Diversity in the workplace means hiring employees with different
backgrounds and characteristics. In the last few years, companies have been clamoring
to achieve workplace diversity. It is easy to paint “diversity” as another
buzzword or business trend that will fade in a few years. However, diversity is
neither of those things. It is here to stay, and these are the reasons why it
is important in the workplace:
Access To A Wider Range Of Talents
Diversity means broadening your horizon during the hiring process. With
a diverse team, you have access to a great range of talents as opposed to
talents limited to one world view.
Variety Of Perspectives
When you bring different people together, you can have a comprehensive
discussion that takes into account multiple perspectives. It will help your
company gain deep insight into the needs of your clients.
Higher Innovation Rates
The combination of diverse talent and perspective leads to new, better, and
more creative ways of seeing things and solving problems. This results in
higher innovation rates in the company. Based on the study
by Josh Bersin, companies with high diversity are 1.7 times more
likely to be innovation leaders.
Better Decision-Making
Having different perspectives on the table also results in smarter decision-making.
Your team can understand issues better and come up with informed, comprehensive
solutions and organizational policies.
Higher Employee Retention
When you embrace diversity in your organization, you will not only think
of better business solutions but also implement better organizational measures.
When you take into account various perspectives, your company will be able to
set policies that align with all your employees’ interests, not just a few.
Thus, the investment you make on each employee will be returned through higher
employee retention.
Better Company Reputation
With improved organizational policies and business performance, your
company will slowly gain a more positive reputation. When you genuinely work
toward diversity in the workplace, it will not crumble upon close inspection
and will be reveal itself as true diversity.
Diversity Is Not Enough
Ensuring diversity in the workplace is only the first step. People,
after all, are not there to serve as displays. Just because your staff members have
varying skin tones does not mean your company has successfully embraced
diversity.
You need to work toward inclusivity as well—put diverse people in
decision-making positions and listen to their input. Diversity and inclusivity involve
a long and arduous process, but it will be fulfilling for the company and your
employees. Access
Loans continuously strives to improve diversity and inclusivity in our offices.
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