Diversity in the Workplace: Why it Matters

As our country grows increasingly diverse, the inclusion of different genders, religions, races, and lifestyles is becoming a critical component to a healthy, productive workplace. At the same time, respect and sensitivity towards people from different backgrounds should be a top priority for all businesses in this day and age.

A diverse staff can have a positive effect on your company, both culturally and economically. Let’s take a look at some of the benefits you can gain from diversity in the workplace.

1: It Provides Your Business With Multiple Viewpoints

A diverse staff provides your company with multiple different viewpoints, skills, languages, and ideas. All of this will increase your flexibility and adaptability, allowing you a greater variety of solutions and approaches to your marketing, communication, business practices, and problem solving.

2: It Opens You To More Consumers

In continuation with the first point, a diverse workforce will allow you to reach out to a greater share of the consumer market, thus increasing growth and revenue. The needs and wants of one group of people may not align with those of another. Having people from different backgrounds can help you adequately communicate with people of different ethnicities, races, sexual orientations, and generations outside of your own.

3: It Decreases Turnover

Companies that encourage a diverse, non-discriminatory workplace have lower turnover than those that don’t. The logic is simple. When your employees understand and respect the different backgrounds of one another, you have less conflict. Less conflict aids a stronger company culture, and a strong company culture is a major contributor to turnover reduction.

4: It Drives Economic Growth

In 2012, McKinsey & Company published the results of a study showing that the increase in women’s overall share of labor in the United States accounted for approx. a quarter of the GDP at the time.

Bottom line: Diversity is good for the economy. Not only does it boost quality employment by providing employers with a larger pool of potential workers, but it creates a more competitive economy which increases overall growth.

5: It’s The Future

Right now, there are approx. 10 million firms owned by women, 3 million firms owned by African Americans, and 3 million owned by Hispanics. In 40 years, there will be no racial or ethnic majority in the United States. Diversity isn’t just a good thing for your business—it’s the cultural direction in which our country is traveling, and our boardrooms, warehouses, and offices need to reflect that direction.

Do you want to learn how you can increase diversity in the workplace? Contact Success Plus today and speak with one of our consultants about a free seminar!