Multiple studies have revealed that a diverse workplace yields more success — with happier employees and better finances. The hiring costs that result from high turnover can prevent company success. Devaluing and excluding employees because they are different places limitations on their contributions and ability to grow, as well as preventing the company from thriving.
According to Glassdoor, 57 percent of employees think their companies should be more diverse. And at its best, diversity is a business strategy that has been shown to increase an organization’s ability to achieve better bottom-line performance and sustain its growth and prosperity. It is most effective when it’s focused on increasing opportunity for personal and organizational achievement.
Appreciating diversity is important. Good managers will try to build a diverse team and encourage them to thrive. They know that it will benefit the team as a whole. According to a McKinsey study, racially diverse companies outperform others by 35 percent. This is because a more diverse staff brings more to the table, with differing ideas and talents.
A diverse workplace has more satisfied employees, a lot of creativity, better talent, varying perspectives, increased productivity – all resulting in greater financial success. These combined traits show how important diversity is in the workplace.
Learning More
Want to learn more about how important diversity is? HRDQ is hosting a webinar on diversity on Jan. 23 at 2pm. “Why Does Diversity Matter?” will explain how essential diversity is. After attending the webinar participants will be able to understand the subtle ways that bias occurs, identify instances of devaluing others through small, subconscious behaviors and micro-inequities, and establish a framework to increase inclusion at the organizational level.
Attendees will also be able to recognize different ways of conveying respect, address conflict productively and respectfully, and lead by example and be part of the solution. Click here to register.
