“Diversity is being asked to the party, Inclusion is being asked to dance.”
– Vernā Myers, cultural change thought leader and DEI educator
The distinction between inclusion and diversity is that diversity refers to a person’s sense of safety and ability to bring their whole, individual self to work. In contrast, inclusion ensures that everyone has an equal opportunity to participate in and influence every aspect of a workplace.
Diversity and inclusion (D&I) are more than headcounts, rules, or programmes. Many companies still do not employ a diverse workforce with a good balance of employees from various backgrounds. This needs to change! There are countless reasons why diversity and inclusion in the workplace are essential. Here are five reasons that should get you thinking!
1. The more, the merrier!
You will always end up hiring the same kinds of people if your recruiting process remains unchanged. When you hire more individuals of different backgrounds, ethnicities, ages, and abilities – Your talent pool will be more diversified, and your chances of making the most significant hire will rise.
A Glassdoor study found that 72% of women, 89% of black respondents, 80% of Asian respondents, and 70% of Latino respondents said that workforce diversity was important. It is essential to hire more diverse people if you want to draw in more motivated, talented candidates.
Innovative and creative ideas will increase in a workplace with workers with various backgrounds, abilities, experiences, and information. This will eventually aid the business’s expansion, which could drive it to greater heights.
2. Decision and resolution
Diverse teams make better decisions. Online decision-making tool Cloverpop looked at 600 business decisions made by 200 units. They discovered that various groups make decisions 60 percent better.
In the workplace, cooperation and teamwork can boost productivity and helps provide different perspectives. The co-workers learn from, understand and get along with one other. The unique and diverse inputs allow for more empathetic and practical decision-making.
Increased productivity allows for the interchange of ideas and enables the company to outperform competitors that do not employ varied and inclusive staff in a shorter time.
3. Increased productivity and efficiency
Diversity and inclusion have positive business-related effects and are helpful for employee’s mental health. The Harvard Business Review discovered that businesses with more great diversity report 19% higher income.
Higher revenues will eventually result from properly managing a diverse and inclusive staff. New ideas will surface, productivity will soar, and employees will be happy in their jobs. More incredible internal business successes will result from this, enabling it to grow and differentiate itself from rivals.
Additionally, there is a 25% higher chance that companies in the top quartile for racial, ethnic, and gender diversity will outperform in their respective industries national median in terms of profitability.
4. Improved wealth and better mental health
Employee engagement is higher when they feel included. Employees who are highly engaged go above and beyond for the company. Profitability, team spirit, and retention are all positively impacted by this increased engagement. Additionally, those who work in inclusive environments typically have better physical and mental health and require fewer sick days. A staggering 83 per cent of millennials actively engage in work when companies support D&I activities.
There will be happier workers! Employees will be more content to be at work in an environment that values diversity and inclusivity, which will show in the quality of the work performed. Employees will succeed in their roles, and opportunities will present themselves, enabling the organization to achieve its goals.
5. Know your consumer
A diverse and inclusive staff will benefit your business internally and, most crucially, externally—for your clients and potential clients. This is possible since you can advertise your company to people from various backgrounds similar to those currently employed.
Employees can effectively market the company because they share the same demographics as the target market. As a firm, there is a possibility for expansion as you grasp the differences between various demographic groups and how to appeal to them.
Of course, it’s easier said than done to create a diverse and inclusive workplace. There will constantly be growing pains when striving to modify your corporate culture on such a large scale. The introduction of diversity into your company can be done in various ways.
Diverse and inclusive employers outperform their rivals by valuing each team member’s individual needs, viewpoints, and capabilities. As a result, people who work in diverse and inclusive workplaces show more loyalty and trust, having a pleasant work experience and an enjoyable life.