Diversity in the workplace has become a buzz term that many business owners seek to understand so that they can implement it. However, it may go beyond simply hoping for more diverse candidates come to you; sometimes you have to actively seek out diverse employees. Why should any business owner be interested in making the effort? Here’s why diversity is so good for your business–and bottom line financial management.
What is diversity?
Before you embark on a mission to increase diversity in the workplace, it’s important to understand what it is. The first things that come to mind when thinking of a diverse workforce are probably race, age, religion and gender. While these are important building blocks, it is also a good idea to seek out other kinds of diversity, such as people with disabilities, workers who have immigrated or workers who identify as LGBT. All of these groups possess members who have valuable contributions to make to the business world. And as the face of the general population changes to reflect these identities, it’s a good idea for companies to follow suit.
It widens your talent pool. This advantage comes from sheer numbers; the more diverse your talent pool, the more people you have to choose from when making hiring decisions. In addition, your company could gain a competitive edge by looking for top-notch talent in underrepresented minority groups, giving you an advantage that few other employers have.
It helps you keep the most talented workers. Not only does building a more diverse workforce help you attract more high-achieving workers, but it also helps you keep them happy. Research shows that diverse work teams are the most likely to value inclusion and minimize feelings of intimidation or hostility. All of these characteristics make for a happy place of employment, which means that workers will enjoy being there.
It makes your work team more creative. No matter what kind of diversity you strive for, you are likely to end up with people on your team who are no strangers to challenges or controversy. This makes for a workforce that is more responsive when challenges arise; not only can they come up with the best solutions for your business, but they will also be knowledgeable about the best ways to implement those solutions.
It helps you attract more consumers. There’s nothing more beneficial to a business–large or small–than having many different perspectives on the same issue. Especially when it comes to marketing, you could give your company a leg up on attracting more customers and making the ones that you have more loyal by including suggestions for selling points from a variety of backgrounds.
It makes your workplace more adaptable. Seeking out diversity is a process that gives you exponential returns. Even if you’re just starting small, actively seeking people of different backgrounds and experiences has a way of making you more dis-positioned to acquire more diverse talent in the future. And as you start this entrepreneurial journey, you’ll find that everything around you becomes more adaptable.
For more ideas on how you can use creative solutions in the workplace, click here.