When we hear the word “diversity” we think of race or maybe culture or perhaps even gender quotas. Of course, when speaking about diversity; ethnicity, race and culture are key aspects. However in saying that, diversity is much broader.
Diversity and inclusion are definitely buzz words that I’m sure a lot of us have heard and used over the past couple of years but what do they ACTUALLY mean, and why are they so critical to the success of a business?
The fact remains that diversity in the workplace, not just gender but also people from different cultures, backgrounds, personalities and viewpoints can be extremely beneficial to an organization. Being open to diversity gives you access to a much larger range of talent rather than just the talent that belongs to a particular gender, ethnicity or age bracket – as recruiters we know just how important this is, particularly in this current market. It provides insight into the requirements and motivations of all and even more of your client/customer base rather than just a small part of it.
Businesses are becoming more global. Even within a single country, the opportunity to provide goods and services to diverse ethnic groups is very tangible. There are a multitude of benefits as to why you should have a diverse workforce:
Access to a broader range of skills
If you hire a variety of employees from various backgrounds etc. you will get a broader range of skill sets and experience which will lead to your employees learning more from each other. It will create a very well-rounded team who can probably handle a lot more.
Additionally, I don’t need to tell you how difficult it is to find candidates at the moment. The demand for talent is extraordinary. Therefore, if diversity was prioritized, it provides access to a much larger pool of candidates which will increase your chances of finding an outstanding candidate. Diversity also has the added benefit of making your business look attractive to potential customers and employees.
Greater innovation, problem solving and creativity
Inefficient problem solving can lead to delays in workflow and loss of revenue. A cause of this can be attributed to a lack of variety in the workplace. If your team isn’t diverse, you will only have access to a limited range of experiences and viewpoints to draw from. However, if you have a diverse team, employees have access to a wider range of experiences and viewpoints. The team can draw from that knowledge and experiences to create varied solutions in a shorter time period. When you have more ideas and solutions, the problem-solving process runs much smoother and faster. This in turn, can lead to greater profits.
Increased productivity
Teamwork can increase productivity in an organisation. This due to the fact that a diverse team can provide their ranges of experiences and skills and allow other co-workers to learn from this. For instance, at Optimum we have such a varied group of people and it works so well. We have a mix of ages, cultures, work experiences and due to that we have such a vast client base and an extremely broad range of services that we can offer to our clients.
In addition, increased productivity means that ideas can be exchanged, and the business can thrive in a shorter period of time amongst competitors that do not have a diverse and inclusive workforce.
Understanding your customers better
Speaking of competitors, having a well-rounded team will not only benefit your business internally but also most importantly your customers/potential customers. Giving you an edge over your competitors. You will be able to market your business to those from different backgrounds that reflect those that are already working.
Employees are able to promote the business effectively as they have similar backgrounds with the intended target audience. It also promotes business growth as it will give you more opportunity to learn how to tailor your approach to different groups of people.
Increased revenue
By having a diverse and inclusive workforce and managing it successfully, this ultimately will lead to higher revenues. Employees will be happier in their job roles; new ideas will arise, and productivity will increase. This will lead to greater successes within the business and allow the business to flourish and stand out amongst competitors.
By creating a diverse team, you will have more cultural insight. These insights can create opportunities for your business that can put you above your competitors. Such as hiring the best talent; expanding into new and unique markets; appealing to new customers. While hiring to meet a quota may not be the right approach, hiring with diversity in mind is always a strong approach to bringing in new talent to your business.
If you want to know more about diversity in the workplace, check out our previous blogs: