The rise of workplace diversity has become a significant issue in the HR world. Companies are now prioritizing inclusivity, diversity, and equity initiatives and investing in their teams to ensure they are set up for success. This is the right thing to do for your organization and humanity.
In this post, we’ll talk about the various benefits of workplace diversity and how you can start implementing initiatives related to it.
1. Brand New Perspectives
When you hire people from different backgrounds, cultures, and nationalities, you can bring a new perspective to the table, which can help boost productivity and improve your team’s efficiency. This can also be a great way to test your team’s effectiveness. For instance, if you have a team composed of people from different backgrounds, will they be more successful if they’re all in the same direction?
Unfortunately, some hiring managers are reluctant to introduce new perspectives to their teams due to their fears about how awkward or unpopular it might be. Despite this, research has shown that teams with diverse backgrounds can improve their decision-making abilities by 60%.
2. Larger Talent Pool
Today, employees are looking for a place where they can grow and feel accepted. This is why companies must embrace diversity. According to a study, most millennials and Gen Z workers are not white. Also, the number of people from these generations working in the United States is the most diverse in history.
A study by Glassdoor in 2020 revealed that 76% of job seekers and employees consider a company’s diversity when evaluating their options. This means that having a diverse workforce can help attract the best talent. A diverse pool of candidates can also help a company attract the best talent. While it’s essential to be selective when hiring, being too focused on traits that don’t matter will result in fewer people you can consider. This is why you must adopt diversity in your hiring process.
3. Innovation
The correlation between workplace diversity and innovation is quite clear. If you have a homogenous team, most people on your team are likely to have the same mindsets and skills regarding problem-solving and thought patterns. On the other hand, if you have a diverse pool of employees, you can get unique perspectives that can help improve your team’s productivity.
The same can be said for companies that go offsite for virtual meetings or those that need to find new ways to solve a problem. New environments and circumstances can often spark new ideas. A study also revealed that more innovative organizations are more successful on diversity indicators.