Here are 5 reasons why having a diverse workforce can make a positive difference for small, medium and large businesses.
1. Build your employer brand
A company that has strong diversity within their workplace will have a good reputation for fair employment practices. Creating a diverse work environment has great impact on employees learning more from one another and makes your company look more modern and ‘with the times’. Most professionals will research what the company culture is like within an organisation, before applying. Therefore, maintaining a diverse work environment can result into finding new talent as people want to see that they can fit in your company.
2. Think independently
A study by Katherine Phillips, a professor from Kellogg’s urged companies to embrace the “socially distinct outsider” as her research found that a newcomer from a different background can increase a group’s discomfort and improve the quality of results. Researchers noticed this effect after conducting a traditional group problem-solving experiment. The twist was that a newcomer was added to each group about five minutes into their deliberations. And when the newcomer was a social outsider, teams were more likely to solve the problem successfully.
3. Increase Innovation
A diverse team helps in the development of your product. Innovation can provide better value if your insights were more culturally diverse. Gain new answers on the brand packaging, product extensions, sales strategies and marketing materials to offer your customers. Your brand should speak to people with a variety of different skills, education and experiences. How do you come up with innovative ideas, unless you have a spectrum of ideas to examine?
4. Personal Growth
Employees are constantly learning from one another. Understanding your team and their diverse unique qualities is a major advantage to help the team with new ideas, perspectives and connect intellectually and personally to different people. It will help challenge your own perspectives in understanding different types of people and their background and experience.
5. Better solutions to business problems
Not having a diverse range of employees will make it difficult for you to figure out solutions to certain problems. For example, if your product or service is for the female market ages from 35 to 44 and you don’t have any females behind the brand of your company, then it will be difficult for you tackle this market. Having a professional who is part of that demographic is a great advantage.
Business leaders need to understand that a diverse workplace will help your company evolve.