Diversity in the workplace, as its name would suggest, comes in various shapes and sizes. What’s more, there are numerous advantages to having a diverse workforce, even if they are somewhat hard to deduce at first glance.

Nevertheless, diversity for diversity’s sake will not generate the desired results. It also doesn’t limit itself to just racial diversity. Variety can also include things like different nationalities, age groups, genders, religious beliefs, people with various disabilities, or even employees with diverse personal and professional backgrounds.

Below are several reasons why diversity in the workplace is more than a trend and more about actual productivity.

Diversity Equals Innovation

2It shouldn’t come as a surprise to anyone that diversity in the workplace harbors innovation. Different backgrounds, age groups, races, ethnicities, and so on, will bring a different perspective to the table, allowing a company to better think outside the box and improve their products and services, as well as the inner workings of the organization, itself.

Diversity in the workplace is somewhat similar to growth hacking. It is a process of active experimentation across various business segments in an attempt at finding the most efficient way to grow an organization. The way growth hacking works is to establish a team from multiple departments, positions, and backgrounds so that a limited perspective will not restrict the team. Airbnb is a living example of what growth hacking and by extension, diversity, can bring to a company.

Better Company Morale and Productivity

A business is only as good as its employees – that’s a given. Nevertheless, if employee morale is low, the company’s bottom line will also suffer. It is why it’s important to keep spirits as high as possible, to improve overall productivity. And as it turns out, diversity can achieve just that.

People generally feel more comfortable with themselves and with others when they don’t have to worry about things like discrimination and are usually happier to take part in a company that promotes diversity. In fact, surveys have shown that 67% of people consider variety as an important factor when deciding to apply for a position within a company.

Increase Employee Retention

It should go without saying that diversity will provide a company with a much larger talent pool, which is based solely on merit. As we’ve said before, variety for diversity’s sake doesn’t make any sense. In any case, the difference was shown to lower the turnover rate as well as the costs associated with it. When in a diverse work environment, employees are likelier to stay loyal to the organization, since they feel respected and valued for their contribution.

Personal and Professional Growth

Business group portrait - Business people working together. A diverse work group.With the rise of the internet and evermore faster means of travel, the world has become more connected than ever. This trend is improved further when people of various cultures and backgrounds work together toward a common goal.

As a consequence, working with a diverse set of colleagues can be personally and professionally enriching, as the experience will expose employees to new skills, as well as different ways of approaching various situations. It, in turn, will develop an international network that can open up new business and career opportunities for both the company and the employees, alike.

In short, diversity in the workplace can foster an innovative, creative, and highly motivated workforce that will increase the productivity of the company, all the while lowering its overall costs. At DC Powell and Associates, we pride ourselves in providing this diversity. For more information, please feel free to visit our website or contact us directly.