WHY IS DIVERSITY IN WORK SPACE IMPORTANT?
Diversity in the workplace in any industry of any shape, size is now the latest mantra & buzzword. For example, an announcement by the Oscars management that in future all films who wish to be considered for the "best film" category would need to showcase the diversity of the world in the film. When we say diversity in the workplace what does it mean? It roughly means that the management/owners of a business/company/organization actively encourage employees to people of varying gender, religion, race, age, ethnicity, sexual orientation, education, etc. There are many reasons for encouraging and hiring people which signals diversity in your organization.
The benefits of diversity in the workspace are:
⦁ With people from diverse backgrounds etc. in the organization, fresh thoughts and perspectives are brought to the workplace. New ideas and thoughts are bandied about, which leads to better productivity and solutions to problems.
⦁ A company gets instant access to a wider pool of talent which was earlier denied to the company for various reasons. Thus, you end up with a better selection of employees/colleagues who will help the company grow and become a better employer. People are always seeking to work in companies that are progressive in thought and outlook, especially the liberal-minded youngsters who seek a rainbow world in their workspace.
⦁ It is widely known that companies with a diverse workforce perform better which translates into more business and revenue generation. A McKinsey study found that U.S. public companies with diverse executive boards have a 95% higher return on equity than those with homogeneous boards. So, it's simple, diversity is a sure way for financial gains for the company.
⦁ Productive employees are well-known off-shoot of diverse workplaces. Diversity of representation is a motivating factor and makes people happy. This leads to an increase in productivity. A homogenous environment is known to be toxic and stifling leading to many negative repercussions.
⦁ Companies are recognized and rewarded by trade bodies, governments, NGOs, and social media for their diversity at the workplace. Get good and free public relations for your company with your genuine commitment to diversity, and not tokenism.
If your organization lacks diversity, speak or take action. Make your office as diverse as you can and reap the fruits. The future is a diverse workplace with people of all hues and thoughts combining their talents to raise the company to greater heights.