The Importance of Diversity In The Workplace

By Connor Wiegand on May 19, 2021

Key Points:

  • What is diversity
  • Areas of diversity
  • Advantages of diversity
  • How to implement

What is Diversity?

Diversity isn’t just a buzzword; it’s a critical component for every workplace. Diversity creates inclusion and opportunities and also provides direct benefits for the company and its employees. Plus, wouldn’t you want the workplace to reflect the world’s diversity accurately?

There are various areas for diversity in a work setting that would contribute to different backgrounds and unique individuals. Below are some of the areas of diversity in the workplace that should be considered when evaluating employees.

Areas of Diversity

  • Religion
  • Age
  • Race
  • Ethnicity
  • Sexual orientation
  • Culture
  • Educational background
Photo by Christina @ wocintechchat.com on Unsplash

Advantages of Diversity

There are many advantages to including all areas of diversity. Attracting dynamic talent allows unique perspectives to be heard and brings positive morale to the company. Below is a list of some of the advantages of a diverse workforce, including, but not limited to the following.

  • Inspire innovation for higher revenue

Diversity creates more opportunities for innovation. When there are individuals unique in their ways, there is more room for creativity. Everyone has different experiences that will enable them to have a unique perspective on any challenges. Creativity leads to new problem-solving skill sets and new innovative ideas. Boston Consulting Group found that diverse management teams have 19% higher revenues due to innovation than those that don’t have diverse management teams.

  • Understand your employees and customer

Having unique perspectives can also help companies better understand their customer. By having everyone’s voice heard, companies can better connect with a broader audience, their target audience.

  • Reduce employee turnover with a positive environment

Including diverse individuals creates a positive space where everyone feels accepted and gains their respect. Fostering this environment will ultimately reduce employee turnover.

  • Room for growth to have well-rounded employees

Not only will employees feel accepted, but they will also have room for growth. There will always be a fresh perspective that will allow every employee to learn from their coworkers. When employees are well-rounded, it gives the company a competitive edge.

How to Start Implementing

A company that considers diversity should do so authentically. For a company to implement a diverse workforce, there should be a time of evaluation to reflect on any bias, create educational resources for current employees and policies specific to diversity. It’s essential to set goals, so they remain top of mind in the recruiting process.

At SPECTRAFORCE, we value diversity; Not only because we are a minority-owned business, but we see the importance of attracting a diverse pool of candidates to hire the best of the industry. We have an internal committee, Diversity, Equity, and Inclusion Committee, that also provides monthly learnings. To learn more, click here for April’s DE&I Learnings.

Sources:

https://www.weforum.org/agenda/2019/04/business-case-for-diversity-in-the-workplace/

https://www.bcg.com/en-us/publications/2018/how-diverse-leadership-teams-boost-innovation

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