More than ever, employers are focusing on diversity and inclusion initiatives and investing resources into making sure their teams are set up for success. Prioritising diversity and inclusion is not only the smart thing to do for your business but also the right thing to do for humanity. In this blog, we’ve outlined the intangible and tangible benefits of diversity in the workplace.
What is diversity in the workplace?
When an organisation intentionally employs a workforce comprised of individuals of varying gender, race, age, religion, ethnicity, education, sexual orientation, and other attributes. Diversity in the workplace leads to a plethora of benefits – both from an internal and external perspective. Here are a few:
1. A much wider talent pool
Employees are not only looking for a 9-5 job that pays well, they’re also looking for a workplace where they can grow, be challenged, and feel accepted. That’s why a company that embraces diversity will attract a wider range of candidates who are looking for a progressive place to work. As a result of this, companies that are more diverse are more likely to attract the best talent.
On the flip side, a company that also actively seeks diversity in candidates will have access to a wider talent pool. While you should be selective about who you hire for the role, being overly picky about traits that don’t matter will significantly decrease the number of candidates you can even consider. By embracing diversity in ethnicity, background, thought and other key factors are vital to finding good hires!
2. Increase employee performance
Diversity and inclusion go hand-in-hand. By creating a work environment where employees see a representation of a variety of backgrounds, cultures, and ways of thinking, they’re more likely to feel comfortable being themselves. Feeling comfortable in the workplace is incredibly important as this leads to happier, more productive employees who want to thrive in their roles.
3. New perspectives
Hiring candidates from diverse backgrounds, cultures, and nationalities, enables you to bring a fresh array of perspectives to the team. Having a team of varied perspectives can have benefits like better problem solving and increased productivity.
Think of it as a scavenger hunt: do you think you would find more success by sending everyone on the team in the same direction? Or do you think you would gather information a lot quicker by having a team that splits up strategically?
Workplace diversity without a doubt leads to innovation. If you have a homogenous group of people, chances are that everything – from their life experiences to problem-solving skills to thought patterns – are likely to be similar. Sameness does not lead to creative solutions! A heterogeneous group of employees, however, will contribute unique perspectives that can lead to breakthroughs in thought. A recent study found that companies that score well on indicators of diversity tend to be demonstrably more innovative.