Businesses that understand the importance of diversity in the workplace are known to perform better both financially and culturally. When employees are of various backgrounds, they have the opportunity to learn from one another, and are more likely to produce higher quality products and services. Having a diverse workforce fosters a positive working environment in which your employees will grow and thrive.
Here are four major benefits for expanding diversity within your organization:
1. An expanded talent pool.
When your business is a champion for diversity in the workplace, your talent pool will naturally expand. Having different skill sets, backgrounds and experiences, your employees will be able to learn from one another and collaborate better, making them more well-rounded employees.
2. Promotion of innovation.
When employees with diverse backgrounds collaborate on projects, this promotes innovation within teams and within the overall organization. Innovation can also result from conflicts among diverse teams who are able to listen to different perspectives when such conflicts arise. When ideas from different types of people are presented, there is opportunity to combine ideas to create innovation for the business’s products and/or services.
3. Business growth.
Businesses with a diverse employee base are known to have an equally diverse customer base. When your business shows that it understands the importance of diversity in the workplace, it will attract different types of customers, which will in turn help grow the business. Moreover, your employees can bring in customers via word-of-mouth, which will also expand your customer base.
4. Improved business reputation.
The culture of your business is imperative if you want to attract and retain top talent. Businesses with a diverse employee base are known to excel in conflict resolution due to the fact that conflict naturally arises more commonly when varying perspectives which must be sifted through are brought to the table. With resolutions also comes new innovations, sometimes even for the most common, daily tasks. Addressing different perspectives and emerging innovations also help employees grow and thrive in their careers. Furthermore, in speaking with colleagues and customers, employees’ positive stories will propagate a positive reputation for your business.
To learn more about diversity, equity, and inclusion, check out our recent Talent Spotlight video-interview series, in which our CEO, Ben Thakur, interviewed Amy Doyle, Senior Vice President of Talent Solutions and TAPFIN Global Brand Leader with Manpower Group. This 3-part series covers a range of topics related to DE&I: