Why Diversity in the Workplace is Important
When we think about a diverse workplace, what exactly do we mean? For starters, diverse workplaces should include diversity from a variety of categories; Religion, culture, sexual orientation, educational backgrounds, and so much more. These differences all contribute to making a robust and diverse workplace. So why is that important?
Diversity allows us to gain new perspectives and opinions. In a meeting, you might be working with a team to brainstorm ideas; with each person’s own experiences and backgrounds, you will hear thoughts you may not have otherwise heard had there not been the differences and diversity in the meeting. A diverse workforce generates creative and innovative ideas, which are critical elements to an organization’s success.
Research from Diversity Matters by McKinsey&Company showed that diversity helps organizations understand a broader range of customers and can therefore provide better solutions. Not only does the customer benefit from a diverse workplace, but the employee does too. A workplace that exhibits diversity makes employees feel included and accepted and therefore decreases employee turnover rates. Companies benefit from this by saving costs on recruiting and can spend these funds elsewhere.
McKinsey&Company’s research also showed that a diverse team increases productivity by 35%. Increases in productivity and performance are a positive benefit of diversity that raises profits for a company.
A diversified team can enhance an organization’s bottom line. Suppose an organization has a reputation for having fair employment and practicing equity – they will attract more customers that will be more likely to buy from a company whose ethics they trust. More applicants will apply to a diverse company with a good reputation. With diversity in applicants, organizations will have a better chance of finding talents and, therefore, achieve more in their position.
When we look at the advantages of a diverse workplace, it only solidifies the importance of having diversity in the workplace. Workplaces should continue to adopt these changes and reap the rewards of innovation, increased productivity and an overall prosperous environment for employees.
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