Diversity in the workplace is about creating a healthy working environment that accepts, appreciates, supports, and respects individual differences. With such a setup, employees can achieve their full potential, and organizations can reach their maximum potential. Many organizations today are encouraged by different consulting firms, such as FTI Consulting, to implement a diverse and inclusive culture.
When you allow everyone to have equal opportunities, everyone is motivated to be more productive. Here are the most common benefits of a diverse and inclusive workplace.
Table of Contents
Greater Innovation
Having completely different employees with different backgrounds, cultures, skills, and experiences means more fresh ideas that can help solve various company problems. When you provide everyone with an equal platform to share their thoughts, you provide an opportunity for innovation.
Employees will feel more comfortable speaking out and sharing their opinions, which helps drive change. The professionals at FTI Consulting encourage managers to prioritize supporting talented and skilled employees by providing the mentorship and tools they need to achieve their goals.
Leads to Higher Employee Retention
When you operate a diverse workforce, everyone wants to join your team because they feel they have an equal chance to work at your company and grow. Similarly, when employees feel respected, appreciated, valued, and accepted, they’re less likely to leave or hunt for new opportunities.
A 2020 Glassdoor survey found that 76% of employees and job searchers agreed that a diverse staff was important when assessing career possibilities. In a related study conducted by Deloitte in 2017, it was shown that 80% of respondents saw initiatives to promote inclusivity as vital when selecting a company.
Helps Improve a Brand’s Image
As more people and the world as a whole embrace diversity and inclusion, organizations are likely to do better in terms of engagement, productivity, and overall performance. People will want to work for, buy from, and associate with a company that appreciates and treats its employees with respect and equality. Similarly, customers may perceive brands that don’t implement diversity and inclusion as bland or biased.
Increased Profitability
Your employees are an asset to your company. When they’re happy, you reap the benefits directly. Working in a diverse and inclusive community is fun, and employees are likely to thrive in their roles, which helps the business grow. Employees will feel comfortable working with teams and sharing ideas, leading to timely project completion. When employees are engaged, they’re more productive, which leads to increased company profitability.
