WHY DIVERSITY IS GOOD FOR BUSINESS

Harmony Day is Saturday, 21 March 2020 –  a time to celebrate our diversity.

With the current challenges our world is facing, it’s a timely reminder of the importance of inclusiveness, respect and a sense of belonging.

When it comes to the workplace, study after study shows that diverse organisations outperform the competition.  Let’s take a closer look at the reasons to make diversity and inclusion a priority in your company.

Access to different talent pools

Organisations that are actively committed to diversity in their workplaces tend to look outside their usual talent pool for new hires. Looking further afield often:

  • Exposes recruiters to a wider range of people
  • Leads to a greater number of applicants seeing and applying for positions
  • Results in an overall bigger pool of talent for companies to choose from

The more people who apply for the job, the more likely you are to find someone exceptional in the mix. And with exceptional people – you’ll soon find yourself with a business that’s blowing the competition out of the water.

Representation inspires greatness

When a group of people who are underrepresented in the workforce suddenly find themselves working in a place where they see people like themselves succeeding – particularly in leadership roles – they are often inspired to seek out more career progression themselves.

Inspired employees are more loyal, dedicated and ambitious. It’s this drive that leads to increased motivation and an even more intense desire to succeed.

Diverse leadership improves innovation

What happens when there is an increase in the diversity of your leadership team? It can lead to a jump in the amount of innovation as well as the quality.

  • Studies show a 19% higher revenue for companies with more diverse management teams as a direct result of their innovation*.

This finding is great news for any organisation where innovation is key to future growth.

Different perspectives add value

This is one of the most important reasons why diverse organisations are thriving. It’s also the real reason why you need to make sure you have diversity at all levels in your business, not just the visible ones.

In business, it’s your point of difference that sets you apart from the competition. What better way to be different than to have a truly diverse group of people in decision-making positions for your brand?

Diversity injects different insights, viewpoints and ideas into the business. At the end of the day – that is where true innovation is born.

Here at Labourpower we thrive on a culture of a openness and inclusion. We work closely with companies to find the right fit for your business.

To find out more, speak to the experienced team at Labourpower today.

#everyonebelongs

 

*2018 study by Boston Consulting Group (BCG)

 

 

 

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