Diversity in the Workplace
Diversity, Inclusion, and Equity. This topic is becoming more and more relevant. People are taking notice of how others respond to or care about diversity, inclusion, and equity. It is becoming a movement. As this movement grows and gets more attention, the more necessary it is to make it a movement within your organization. Not only is it the right thing to do, but diversity and inclusion also benefit the workplace in many ways. Candidates searching for jobs are becoming more interested in how employers incorporate diversity and inclusion into their workplace culture.
One of our recruiters conducted a survey on LinkedIn that reached more than 3500 professionals across all industries, levels, and walks of life. He found that more than 70% of participants said that a company’s Diversity and Inclusion efforts are a factor in how they evaluate a potential new job opportunity and 46% said it would be a major factor in evaluating potential employers.
Close to half of the population pooled said the level of diversity and inclusiveness was a major factor when pursuing an employer. Have you looked within your organization to see how you have shown that your organization values equal opportunity? Have you also communicated these values with your clients or customers?
Employees and candidates are putting a higher value on Diversity and Inclusion. People want to know that your organization cares. People want to know what your organization values. Candidates take the job because they feel like that could benefit your company; they stay because of how the company makes a difference in the community. Being more inclusive with your workforce allows you to connect with a wider range of consumers, therefore having a bigger impact on the community.
Having a diverse workforce not only attracts a more diverse and expansive talent pool but also has many benefits to your company.
Benefits of diversity in the workplace:
Bringing together a group of diverse and inclusive people creates a wide variety of different perspectives. Your company may have been doing a task one way for a long time, but this does not mean this is the best way to complete this task. New perspectives have the opportunity to bring in better business performance.
A study done by People Management found a direct link between inclusive decision making and better business performance. Diverse teams make decisions faster than individual workers and benefited from a 60 percent improvement in decision-making.
Wider Talent Pool
Every role has a list of qualifications your company has to consider before hiring a candidate for the position. Many companies unknowingly disqualify candidates based on the recruiter or hiring manager’s bias. Creating a culture of Diversity Inclusion removes those biases and ultimately increases the quality and number of candidates presented to any given job opening. Selecting the best possible candidate for the job can be challenging; why not give your company the best possible opportunity to find the best fit and widen your candidate options?
The correlation between innovation and diversity just makes sense. If you have a group of people that are homogeneous, meaning they come from the same background, religion, race, ethnicity, and gender, they are going to think the same. They will have the same thought process and problem-solving solutions. Being similar does not lead to creativity. When you bring together a group of people that are different, they all have unique perspectives. These perspectives can stimulate creativity and even lead to a breakthrough.
Better employee performance and Innovation
Innovation and diversity go hand in hand. When you have a workforce full of employees from different backgrounds, creativity and problem solving can flourish. When everyone in the room has a similar background and upbringing, new ideas are stifled.
Creating an environment where employees see representations of a variety of cultures, backgrounds, and ways of thinking encourages employees to be themselves. When people feel they can express themselves in a safe environment it leads to happier and more productive employees. Research has found that a strong, homogeneous culture can stifle natural cognitive diversity due to the pressure to conform. If employees feel they are not accepted this can hinder their work. Instead, employ people that bring many different backgrounds, cultures, and ways of thinking to encourage the flow of ideas and top performance.
It is no mystery that diversity matters and affects business. It is good not only for inclusion but also for the performance of a company. A 2015 McKinsey report on 366 public companies found that companies in the top quartile for racial and ethnic diversity are 35 percent more likely to have financial returns above their respective national industry medians. They also found that the more diverse their leadership was the better they were able to win top talent translating into better performance throughout the company.
How to get started with workplace diversity
Now that you understand the value and benefits that come with diversity in the workplace, where do you go from here? Luckily, there is a growing number of resources out there to guide you on your Inclusion Journey. We have developed many resources to help guide you through this process.
Take the Next Step
To set up a call with one of our Inclusion Advisors click below: