Home Business Why Companies Should Have A Workplace Culture That Embraces Diversity And Inclusion

Why Companies Should Have A Workplace Culture That Embraces Diversity And Inclusion

Why Companies Should Have A Workplace Culture That Embraces Diversity And Inclusion

Inclusion-focused employers are better positioned to recruit and retain a diverse, actively productive workforce. Achieving gender parity during recruitment is not possible without intentional efforts. It is a commitment with undeniable benefits. Below are three reasons for making diversity and inclusion a vital element in your workplace culture.

A Diverse Staff More Innovative

When the employees are from varying professional and ethnic backgrounds, they bring in an array of life experiences that can be leveraged to improving problem-solving and information sharing vital in better decision making. Therefore, diversity is essential in helping workers have different perspectives and a creative approach to things.

According to a Harvard Business Review post, companies with two-dimensional diversity and leaders with roughly three inherent diversity traits coupled with a similar amount of acquired knowledge and skills from experience will outperform their competitors.

Inclusive Work Culture Advances Employee Retention.

Companies with a homogeneous work environment often lose promisingly productive employees, even if such a culture is created unconsciously. Conversely, a diverse and inclusive workplace attracts a diverse pool of applicants because it has a stimulating work experience that encourages moral therein bolstering retention rates.

According to a 2014 survey done by Glassdoor, two-thirds of job seekers held diversity with high regard, considering it pivotal to their decision of where they would want to work. Veterans, women, and minorities expressed a desire to belong and contribute to a diverse workforce. It means companies with a diverse and inclusive work culture will attract top talent.

Company managers and leaders should not avoid recruiting for diversity before addressing the workplace culture. If the staff do not feel welcome and appreciated, they are less likely to stay for long. For instance, does the marketing material feature align with the hiring process and influence the cultivation of inclusive company culture from the top down? Diversity achieving via recruitment is great but equally is the need to retain the workers. Replacing employees every other season is costly and time-consuming. Even the mining industry is promoting diversity according to TRS Staffing.

Diverse Companies Have Higher Profits

A staff comprising of professionals from different backgrounds makes for a better-connected company with a broader consumer base. Having a diverse marketing team allows the business to reach various customers, and those customers can trust the company if they feel adequately appreciated and represented by the employees. Check out “Top 50 Companies for Diversity” posted by DiversityInc that shines a spotlight on the companies that outperformed the overall market last year. The more diverse the workplace, the more likely the business to have a bigger market share.

Overall, it is evident that diversity can bolster workplace performance. It gives businesses a competitive advantage. According to a McKinsey survey, businesses in the bottom 25% of the pack regarding ethnicity, gender, and racial diversity are less likely to bag above-average financial returns compared to those with average diversity. It means the homogeneous office culture actively holds them back, and embracing diversity and inclusion will be good for the company’s bottom line.

Business Magazine provides readers with informative posts on various business niches. We hope you enjoyed reading this article as much as we have bring it to you.