Why is diversity so important in the workplace?
Diversity is important in the workplace for a variety of reasons. First, let’s take a look at the general definition of diversity in the workplace: having an organization that employs individuals whose ethnicity, gender, background, experiences, abilities, skills, age, and opinions are varied.
So, why is this so important? Well, according to UC Berkely in Why Diversity Matters,
There is evidence that managing a diverse work force can contribute to increased staff retention and productivity. It can enhance the organization’s responsiveness to an increasingly diverse world of customers, improve relations with the surrounding community, increase the organization’s ability to cope with change, and expand the creativity of the organization.
In a global marketplace, a company is more likely to be able to meet the needs of its customers and gain access to new markets with a diverse workforce. Bringing in talent into the workplace whose experience or background pertains to these new markets can be an efficient solution to accessing these markets as different skills, e.g. language or understanding of cultural norms, are often required to break initial barriers to entry.
The Center for American Progress lists the Top 10 Economic Benefits of Diversity in the Workplace as the following:
- A diverse workforce drives economic growth.
- A diverse workforce can capture a greater share of the consumer market.
- Recruiting from a diverse pool of candidates means a more qualified workforce.
- A diverse and inclusive workforce helps businesses avoid employee turnover costs.
- Diversity fosters a more creative and innovative workforce.
- Businesses need to adapt to our changing nation to be competitive in the economic market.
- Diversity is a key aspect of entrepreneurialism.
- Diversity in business ownership is key to moving our economy forward.
- Diversity in the workplace is necessary to create a competitive economy in a globalized world.
- Diversity in the boardroom is needed to leverage a company’s full potential.
Finally, diversity in the workplace helps employers comply with legislation that protects individuals from discrimination. When employers are legally compliant with these laws, the likelihood of employees pursuing legal action due to discriminatory activities by the company decreases (smallbuisness.chron.com, The Importance of Diversity in the Workplace).
Recruitment is a critical HR function. Strategic HR, inc. knows that finding and keeping talented employees is the key to company survival. That’s why our Talent consultants utilize a variety of resources to help clients source, screen and select the best candidates and employees. Please visit our Recruitment page for more information on how we can help you effectively and efficiently find your next employee.