Why this Needs to be a Priority for Organizations
Over the last few years, diversity and inclusion in the workplace have been a hot topic of discussion.
It is heartening to see that the discussion has evolved from being buzzwords that are used to attract employees to essential requirements for corporate growth and prosperity.
Many believe this is happening because more and more companies are seeing the vast benefits of broadening their employee base to be as inclusive as possible.
It is easy to see when there’s a lack of diversity in the workplace, how it results in a homogenized pool of employees who are very similar to each other. This limitation of diversity prevents high potential talent from applying to work with a company because they feel excluded around ‘the inner circle.’ Obviously the same goes for retaining top talent that may not feel like they belong.
In this blog we will outline the top reasons why diversity with a focus on inclusion not only makes good business and economic sense but is also a key factor in the success of a company:
Diverse Companies Perform Better
A company that’s focused on growth, opportunity, and innovation will always understand the value of diversity.
Numerous studies have shown that companies that encourage racial, gender, and ethnic diversity are more successful in terms of both productivity and financial prospects. Diversity within a workforce consistently results in a significant positive impact on the short-term bottom line and the long-term growth of companies.
Diversity Encourages Innovation
When a company has employees that come from diverse backgrounds, experiences, and perspectives, it can tap into varied schools of thought.
Diversity is a vital part of innovation and creativity. It encourages people to open up to different perspectives and come up with cutting-edge solutions and products.
Unless a company is only targeting one very narrow customer profile, it makes sense to employ the broadest spectrum of people possible, for they will bring their varied backgrounds and experiences with them, broadening the products and services that a company can offer their customers.
An Inclusive Workforce Attracts Top Talent
Take a look around your workplace. What do you see? Is the workforce diverse? Has your company been able to tap into the talent of people from diverse backgrounds?
If not, you might want to look into that. Many companies fail to grow because they fail to scout talent from all backgrounds. An inclusive recruitment policy enables companies to find the best talent no matter where that person comes from. By actively searching for candidates outside the normal channels, a company positions itself to broaden their employee base in the very best way possible.
Diversity Enhances Business Identity
A company’s brand or identity is how investors, stockholders, clients, and customers perceive its organizational culture. A business with great employer branding focuses on diversity on all fronts and is hence seen as a terrific place to work. These companies also attract investors from all walks of life.
Recruit leaders of tomorrow that can help you take your company to new heights of growth and success.