Diversity matters now more than ever before. Not only is having a diverse staff the right thing to do, but studies show there is also a strong business case for a widely diverse employee base. Companies with a diverse and inclusive culture have higher innovation and productivity. Perhaps that’s why diversity was one of the top workplace trends last year. What is diversity in the workplace? How and why should companies spend more time fulfilling the mission of diversity in employment? We have answers that can help your business this year.
Workplace Diversity for a Competitive Advantage
Building a diverse culture is something most companies are striving for. Diversity in the workplace means that the company employs a variety of people of different ages, genders, races and ethnicity, cultural background, sexual orientation, education, financial status—and more. Having a diverse group of employees means that a variety of experiences and outlooks will be brought to the table. This will improve the company’s external reputation, but it also has tangible, measurable benefits that impact your bottom line.
The top 9 benefits of having a more diverse workforce include:
- More innovation. Research shows inclusive companies are 1.7 times more likely to exhibit innovation in their business.
- A variety of human perspectives for problem-solving. Harvard research shows diverse teams solve problems faster.
- Decision-making improves. According to the research, diverse teams outperform non-diverse teams up to 87% of the time.
- Increased profits. McKinsey research shows the top companies for diversity were also the top financial performers.
- Higher employee engagement. A Deloitte study showed diverse companies had more engaged and passionate employees.
- Increased creativity. The more backgrounds represented in your company, the more colorful the ideas. Creativity increases when you have a melting pot of diverse employees.
- Reduced employee turnover. Creating diverse, inclusive teams makes for more of a sense of belonging that permeates the culture. This in turn keeps employees happier and less likely to leave.
- Better external reputation. Companies with a commitment to hiring a diverse workforce are seen as more socially responsible and have a better reputation in the marketplace.
- Better hiring. Diversity creates a better reputation for your company that makes it an employer destination sought out by the best candidates.
Contact ADD STAFF Today!
ADD STAFF remains committed to diversity and inclusion in the hiring process. Talk with our team today about the ways we can help your organization meet its goals.