Workplace diversity refers to organizations that are inclusive and employ a varied staff. Employees in a diverse company often include different age groups, ethnicities, genders, religions, sexual orientations and so on.
As the trend of globalization continues, workplace diversity is a major goal for companies. Research shows that companies which embrace a more diverse culture earn 19% higher revenue than those that do not. Although most company managers are aware of the importance of diversity, they do not know what exact benefits diversity can bring. Unfortunately, the reality of achieving workplace diversity is challenging.
This article will introduce three benefits that workplace diversity can bring and four tips to achieve workplace diversity in practice.
Why Do We Need Workplace Diversity?
1. Boosts Innovation
According to Josh Bersin’s research in 2015, inclusive companies are 1.7 times more likely to be innovation leaders in their markets. A diverse team enables employees to learn various perspectives and discuss distinct ideas. Because individuals have different worldviews and perspectives, a diverse team can produce more mature and innovative processes.
2. Improves Company Reputation and Attracts Employees
A diverse workplace is generally more inclusive; its company culture is friendlier and therefore can attract more employees with various cultures and backgrounds. Existing employees will also feel accepted and valued in this environment, and be willing to stay with the company. Having an inclusive working atmosphere can also improve a company’s public image, attracting more clients from all over the world.
3. Expands the Market
A diverse workforce not only provides a wide range of skills, but also can allow a company access to more resources. For example, employees from different countries may be familiar with different languages and can help the company explore new potential clients, expanding the market as a result.
Four Steps to Achieve Workplace Diversity
1. Set a Clear Goal
The slogan “create workplace diversity” is too general to build a specific implementation plan on. For instance, some managers intentionally design some leadership positions to represent different social or cultural groups so that the overall structure looks diverse. They ignore the ultimate goal of workplace diversity, which is to create an inclusive working atmosphere.
2. Implement It; Don’t Just Plan It
Sometimes, a plan or design seemed faultless before you actually implemented it. Perfect plans can go wrong and there are always unexpected loopholes in planning. Some managers may consider managing talents from different backgrounds to be fairly easy and do not deliberately learn detailed tactics for it. If managers do not carefully prepare for the implementation, various behavioral styles and cultures can lead to conflicts. Once conflicts arise, it is costly to solve them. The best way to avoid conflict caused by diversity is to roll out the implementation plan with complete preparedness.
3. Make Sure Everyone Understands the Significance
We can only develop successful workplace diversity practices with every individual’s understanding of their significance. It is necessary to ensure everyone in the firm realizes the benefits of diversity. If not, all the previous planning and implementation will be in vain because the employees themselves are not willing to embrace diversity.
4. Don’t Duplicate
Last, but not least, each diversity initiative needs to be designed based on each individual company’s characteristics. Copying an entire strategy and method from others is unlikely to work because each company, country and region has its own unique culture.
Want to develop a workplace diversity plan designed just for your company? Click here to contact a CoreAxis specialist to analyze your company type and culture, and give you custom solutions!