Promoting, encouraging and increasing diversity is no longer just an initiative among HR departments -- it now extends to all different parts of company operations. From the C-suite to mid-level team management, diversity is becoming a far-reaching responsibility among top companies. And for good reason: Anecdotal and research-based evidence shows that workplaces that bring together employees with experiences unique to each different type of diversity are more likely to see growth in profits.
It’s important to remember that diversity encompasses a lot more than just skin color or gender representation. When we talk about diverse workplaces, we’re talking about companies that take into account a variety of different diversity types. To achieve a truly diverse workplace (and to reap the benefits of it), HR professionals and CEOs should strive to represent different genders, races, cultures, abilities, religions, sexual orientations, cognitive preferences and learning styles.
While profit growth is a great side-effect of a diverse workplace, the perks don’t end there. Here are four other benefits of a diverse workplace that all serve as great reasons to increase gender, racial, cultural, ability, etc. representation among your company’s teams.
Brings more perspectives, voices and ideas to the table
One of the greatest benefits of a more diverse workplace is that it ensures the presence of varied perspectives. It probably goes without saying that the more diverse the people in a conference room, the better the ideas that are formulated in that room. With diversity represented among the various dimensions mentioned earlier comes a greater breadth and depth of life experiences, informed background knowledge and problem solving approaches.
Teams comprised of employees with varied life experiences are more likely to dream up a wide range of ideas and solutions that account for different genders, cultures, races and abilities. In this way, diverse teams spark creativity that allows for collaborated ideas that otherwise would not have been thought of. Plus, encouraging workplace diversity in terms of skills and learning differences unlocks the potential for multi-talented teams that can learn from one another.
Breaks down language barriers
A great benefit of inclusive hiring practices to increase racial and cultural diversity among employees is that it might also make the company more language diverse. In other words, hiring people of different backgrounds increases the likelihood of building a company that has personnel who can speak and understand various different languages.
The advantages of a multilingual workforce cannot be understated. Companies that are multilingual are able to unlock many more doors in an increasingly multicultural society. If employees can speak and understand other languages, the company can take on business enterprises and client bases in other parts of the world. Additionally, representing different nationalities fluent in their native language can make a company more relatable in the global market.
Attracts more top talent
To many job seekers, diversity and inclusion are no longer just buzzwords or nice-to-have workplace requirements for potential employers to tout in a job description. Instead, much of the workforce’s top talent now expects a workplace to be diverse and inclusive. In fact, a recent study suggests that as many as 87% of job seekers look for a commitment to diversity at the companies they consider joining.
While a commitment to diversity is certainly a benefit for companies as it attracts top talent and a more diverse pool of applicants, a lack of workplace diversity may be going so far as to inadvertently hurt any hiring efforts among companies. Research shows that millennials, the fastest-growing generational group in the workplace, consider diversity to be an important initiative among top companies. Without a commitment to diversity, a company’s reputation may take a hit, making it hard to draw any applications at all from a large percentage of the workforce.
Employees are more likely to feel happy, comfortable and safe sharing ideas and taking ownership of work in diverse workplaces that encourage inclusivity. This helps increase team morale, which increases employee productivity -- the same increased productivity that is often cited as a reason why diverse workplaces generate more revenue. Diversity, inclusiveness and equality among team members allows employees of all different backgrounds to feel confident and empowered each and every day at work.
Striving for a diverse and inclusive workplace can bring a variety of benefits to the companies of today’s increasingly multicultural marketplace. From greater profits to a better reputation, many companies are beginning to realize that their continued success doesn’t just benefit from a commitment to diversity -- it relies on it. As your company begins to bolster diversity efforts, don’t forget that inclusive hiring practices are an important part of ensuring workplace diversity. Happy hiring!
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