Top 5 benefits of improved workplace diversity

January 08, 2020

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Many business owners believe that workforce diversity is little more than an inclusion fad that does little to improve a brand. However, there are clear benefits to a more diverse workforce, and employing team members with a variety of characteristics should now be a core goal of your HR department. Workplace diversity is more than just about improving reputation. It comes with a huge variety of benefits that improve your competitiveness and can have a positive effect on your profits. If you think that diversity in the workplace is all about being PC, then here are the very real benefits that you gain from encouraging more diversity in your teams.

Perspective Variation

Employees are a resource. If you hire people that are the same as you, then you simply limit your access to fresh perspectives. Improve your workforce diversity and you immediately gain access to a wider range of life experiences, personalities, and skills. If you want a stronger business strategy development, then viewing your goals from a variety of perspectives simply strengthens them.

Creativity Gains

Not everyone has a creative imagination. When you put people together with a wider range of experiences, you create a melting pot of creativity that can lead you in entirely new directions. From finding new revenue streams to coming up with more imaginative marketing plans, diversity in the meeting room will foster creative solutions that would otherwise be neglected.

More Access to Skills

The more diverse your team is, the more variation there is in terms of skill sets. From marketing specialists to software designers, more diversity means more access to skills. That’s one of the reasons why methodologies like the 6Sigma (as developed by expert Peter Peterka) are being prioritized by those business owners looking to add value to their teams with more diversity. With 6Sigma skills, you boost the effectiveness of your business by creating “…more predictable and profitable business processes.” If you are missing key skills in your workforce, then aim for more diversity of those skills and your company will be much more effective and profitable.

Better Problem-Solving

Research indicates that teams that have more diversity are faster and more effective at solving problems. As a result, they broaden the options and solutions that can be delivered. This leads to more ideas, more results, and a more effective means of decision-making.

More Profits

All businesses need to make money. A more diverse workforce can help your business to make the profits that it needs to maintain growth. When a business has a more diverse team then they can make faster decisions, and with the added combination of improved creativity and problem-solving, this can only lead to higher levels of profit. Speed is essential for modern business, and diversity in the work environment has a dramatic effect on both speed and profitability.

From reducing staff turnover costs to establishing your company culture, a more diverse workforce is more than a buzzword. It is a means of taking more control over your growth and giving your business access to a wider range of skills, experiences, and ideas.

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