A diverse workforce that features people from a variety of cultures, backgrounds, abilities and lifestyles benefits everyone. By having a workforce that is a better representative of society your business will have access to a wider range of talent, meaning you have a greater chance of finding the right person for your new opening.
In addition, a diverse workforce can improve productivity and help to reinforce a positive company culture that is inclusive, leading to employees staying with your organisation and reducing staff turnover.
Diversity brings a broad range of experience, skills and backgrounds which can certainly have a positive impact. In an inclusive environment, teamwork and cooperation can thrive, driving a much more productive workforce.
On top of that, diverse workforces are often more financially successful as it’s been recently reported that companies with a more even gender balance are 25% more likely to outperform those who do not.
However, it’s not enough to just hire diverse talent and expect to see a wealth of positive results, diversity is also about increasing participation, not just symbolic participation or positive discrimination. Treating your diverse talent equally is what will lead to an inclusive workplace that enables all people to succeed.
Larger Talent Pool
By opting to increase your diversity, you're opening the organisation up to a much wider talent pool and a better chance of getting the right person through the door for a role. Diversity is inclusive of many factors, for example, both older and younger generations can benefit from their respective experience and youth. As millennials continue to enter and rise in the workplace they want to be part of workplaces that have diversity programmes that seek to create more inclusive company cultures.
Different experiences, backgrounds and educations, can lead to new and innovative ideas which might not otherwise have come up otherwise. What’s more, with a diverse collection of people working together, one can make an improvement, then others in the group can improve on that and so on.
Having a diverse workforce can allow you to market your business more effectively to different ethnic and racial backgrounds. Staff with similar backgrounds can also help promote better understanding between your business and your different customers, as well as help increase your market share.
Positive Employer Branding
If you want your business to thrive then you need to create a positive employer brand. One with a diverse workforce will feed into that brand, showing you as an inclusive and forward-thinking employer. You’ll be considered a brand people want to work with which in turn can boost staff recruitment and business growth.
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