“Strength lies in differences, not in similarities.” -Stephen Covey, author of The 7 Habits of Highly Effective People
Depending on who you ask, the word diversity can denote a variety of meanings. Whether it’s race, religion, skill set, age, cultural background, gender, or work experience, employing a diverse team has many advantages and is a benefit to your company. Here are 5 ways that diversity can positively impact your business and affect your employees.
A team comprised of diverse individuals will be stimulated and inspired by their varying experiences and perspectives. Each person brings something different to the table, which allows for strong collaboration and the development of unique ideas and varied solutions. The presence of diversity can spark creativity and by working together and sharing distinct points of view, your employees will arrive at powerful results.
We’ve all heard the saying, “Birds of a feather flock together.” If your employees are alike, they are likely to end up following the same path, yielding the same results. Innovation is about transformation, breakthroughs, and pushing to new ideas and out-of-the-box concepts. If your entire team thinks alike, your company might miss the opportunity to fill a gap in the market, create a new product, or find a more streamlined solution to solve a problem.
Diversity helps with recruitment! Competition for talent is fierce but diversity can help you attract talented workers to your organization. In a recent survey, 2/3 of participants noted that diversity was important to them as they evaluated open positions and researched companies. When the perception of your company is diverse and inclusive, it can help you grow your talent pool by attracting potential hires that share the same values.
The same survey noted that 57% of individuals believed that their company should be doing more to increase diversity in their current workplace. If you are looking to make your employees happy, being a diverse and inclusive workplace has been proven to improve retention. Not only will you keep your employees content by fostering a diverse and dynamic team, but hiring can be expensive, so it saves your company money at the same time.
When given the same challenge, a Harvard study found that the more diverse team completed the challenge faster than the homogeneous team. Company diversity positively affects collaboration, productivity and efficiency in the workplace, which is directly related to achieving business objectives. Investing in diversity will pay off in the long run when your employees are performing at an efficacious level.
Whether you’re a small or large organization, placing diversity at the forefront of your culture will open new doors for your business. Diversity allows for your employees to flourish in the most effective and inclusive manner, enhancing the future of your company as you strive together to reach common goals.