A diverse workplace is far more important than most business owners realize. Smart organizations choose to practice cultivating a diverse workforce by pushing to be more inclusive across the board. This push for diversity benefits the employees, their team, the customers, and the company itself. The following are four reasons why diversity within the workplace is so important.
Diverse Organizations can Better Relate to Their Customers
Workplaces that are more inclusive in their hiring practices will find that they’re better able to relate to their customers. When clients and customers are able to connect with an organization or business on multiple levels, they will be more comfortable doing business with them. Similarly, organizations that make diversifying their workplace a priority are more apt to understand and listen to the needs of a more diverse clientele as well.
Diverse Teams Accomplish More
Workplaces that employ cognitively diverse workers will find that these teams solve problems faster than a team of people that are cognitively similar. In order to encourage this cognitive diversity, workplaces should further encourage being different and innovative thinking throughout the workplace.
Workplaces with Diversity Enjoy Increased Innovation and Creativity
A workforce with people from different backgrounds and with different skill sets will automatically be more creative than a team that is more homogenous. Having such an innovative workforce will positively affect a business’ bottom line. According to a McKinsey study, workplaces that have a diverse group of executives experience a boost in their return on equity by 95 %.
Diverse Organizations Are Able to Retain a Talented Team
Moreover, organizations that make an intentional effort to diversify their workforce are able to enjoy a higher retention rate, as well as increased engagement in the workplace. Teams that are more diverse allow employees to tap into the idea of “belonging”. This feeling is essential in the workplace as it is a key proponent if psychological safety. Employees that feel as if they belong or are an integral part of the team will perform better than employees that feel like just another worker.
Diversity was always more than just a workplace buzzword. Companies that are actively working to make their workforce more inclusive are doing wonders for their bottom line and for their employees’ sense of self.