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“Strength lies in differences not in similarities” – Stephen R. Covey.
Diversity breeds innovation and innovation breeds business success. The term “diversity” is more than just an HR buzzword but a solid business strategy. Workplace diversity can improve confidence, fortify loyalty, draw in quality talent, encourage a feeling of being part of a network, and lift business advertising. Research has even shown that workplace diversity may earn companies greater incomes. Therefore, workplace diversity is good for your organisation’s bottom line.
Diversity in the workplace covers but isn’t limited to gender, nationality, ethnicity, and age. Here are some top reasons why diversity matters in the workplace:
- It increases creativity. People from different backgrounds have different approaches to how they solve problems. Therefore, bringing people from different backgrounds to a workplace would lead to you most likely getting a better solution to your business problems. Getting solutions on how to tackle a particular demographic would also be easier if you have someone from that demographic as part of the team as they would be able to give valuable insights and ideas.
- It builds your employer brand. Having a diverse workforce would encourage people from various places in the world to apply for positions with your organization. This makes the workplace a more interesting place for people to learn from and interact with each other. It increases your chances of hiring more talented individuals from around the world.
- It makes employees think more independently. If you have team members from a similar background, it would be harder to come up with solutions for complex problems. Having just one person from a different background can get people out of their comfort zone and get them thinking creatively about a problem.
- It encourages personal growth among employees. Employees thrive to use the corporate experience to enhance their careers. Diversity in the workplace helps employees to learn new ideas, gain a better perspective on things, and connect intellectually and personally with different people making them well-rounded with a better sense of the working world.
- Diverse teams perform better. Research has shown that diverse teams make decisions 60% faster than non-diverse teams.
The idea of embracing diversity is extremely important. In the end, companies that can adapt to changing demographics, embrace diversity of the individual, and diversity of thought, are likely the companies that will thrive in the ever-changing competitive world of business.
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