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“When we listen and celebrate what is both common and different, we become a wiser, more inclusive, and better organization.” – Quote by Pat Wadors, chief talent officer at ServiceNow
As per a survey conducted by the McKinsey Global Institute (MGI), called ‘Diversity Matters,’ around 366 public companies were surveyed in the west, the findings are:
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Gender-diverse companies are productive by 15% more
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Ethnically diverse companies are productive by 35% more
Diversity is not only about looking good or putting your best foot forward to the world. It actually makes a whole lot of business sense. Just as a rainbow is always more attractive and eye-catching, being a workplace of diverse representations is a recipe for corporate success. In this blog, we look at how diverse teams are actually smarter and thus in the interest of every company to aspire for.
Let see why diverse teams/workforce are considered smarter:
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Focused on facts. Diverse teams are likely to spend a good amount of time delving into facts and being objective. They are more critical of each member’s acts thus keeping everyone on their toes. Diversity in teams helps individuals to look inward and re-examine their own thoughts & biases etc that can hamper decision-making or action etc seen in homogenous teams of men.
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Careful calibration of facts. Diverse teams process facts, information, and data in a more careful manner. The different perspectives of members enable better processing of all relevant information.
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Innovative. Unique perspectives, views, and lives can be harnessed at work to get teams to innovate and think out – of – the – box. Studies have revealed that having more women and minorities is the best way forward for any company. Companies with diversity are more likely to be innovative by just homogenous teams/companies. Working with people with similar backgrounds etc may be comforting, but at what cost? Having peers/colleagues and staff of different backgrounds shakes up conformity and encourages an independent thought process.
Ms. Neetu Singh, Human Resources head at Codleo says “ Our mission is to be a company with diversity in its core agenda. We are taking proactive steps to ensure our company is an equal opportunity employer. We have employees of different backgrounds, religions, genders and sexual orientation as Codleo is a representative of the diversity that is 21st century India”.
To sum it up, widening the employee pool with people of different genders, races, abilities, religions, and sexual orientations widens your firm’s joint intellectual pool. Every company must incorporate diversity in its mission & culture statement, implement and review it from time to time. Everyone must feel welcomed, respected, trusted, and heard. This leads to the employees becoming sharper, the teams productive and the company successful.
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