Improving and enhancing diversity, equity, and inclusion (DEI) efforts in the workplace have drastically increased over the last several years, and for good reason. For too long, companies of all sizes had workforces that did not reflect the broader society in which they operated.
Far from being just a hot topic or passing fad, organizations have demonstrated greater commitment and emphasis on creating a more diverse and inclusive workforce. In fact, building a diverse workforce is one of the most important steps any business today can (and should) take to respond to a market that is growing increasingly competitive and dynamic.
So what are tangible advantages of having a diverse and inclusive workforce? Below are some of the top benefits you should know when it comes to bolstering DEI initiatives in your company.
5 Benefits of Having a Diverse and Inclusive Workforce
#1: Diversity and Inclusion Inspire Creativity & Innovation
It’s been said that “great minds think alike,” but too much thinking alike can result in stagnancy and a lack of innovation. Having a number of different employees all bringing their own unique backgrounds and life experiences to the table is a great way to stimulate creativity and add new ideas to the mix.
If your business isn’t evolving, it’s in trouble; having a diverse and inclusive workforce ensures that you’re always growing, changing, and adapting to meet the challenges of the day.
#2: Diversity and Inclusion Help Increase Productivity
Everyone has their own strengths and weaknesses. The more diverse your workforce, the better equipped you are to balance out one person’s weaknesses with another person’s strengths.
With proper organization, you can leverage those strengths for all they’re worth, while reducing or eliminating any weaknesses.
This, in turn, makes your company more effective, and productive. It also provides you with access to a broader range of skills that can help streamline efficiencies and workflows.
#3: Diversity and Inclusion Are Vital for Employee Retention
Just as important as finding good, qualified employees is retaining them. The best way to do that is to make sure the people who work for you feel seen and fulfilled.
Valuing diversity and inclusion helps communicate to your employees that you care about them not just as workers, but as people. It helps boost morale and develop a richer, more vibrant employee community. Employees who are encouraged to show mutual respect and appreciation despite their differences build stronger bonds and more fruitful working relationships.
#4: Diversity and Inclusion Are Good for Your Reputation
One mistake that too many businesses make is not actively cultivating diversity in their workforce. Instead, they simply sit back and hope it takes care of itself. Unconscious bias is an insidious thing; not making an effort to actively overcome it can leave you open to making costly mistakes.
On the other hand, being proactive about fostering a diverse workforce demonstrates both to your employees and to the general public what really matters to you. A good reputation goes a long way towards attracting job seekers, while also appealing to potential clients and customers.
#5: Diversity and Inclusion Help Reach New Audiences
On a related note, it’s worth keeping in mind that your workforce isn’t just a reflection of who you are. It also holds a mirror up to your audience. If customers look into that mirror and don’t see themselves reflected back, they will likely search of a business that they feel does reflect them.
In other words, a more diverse and inclusive workforce appeals to a more diverse audience. It allows you to appeal to a much wider number of demographics and opens the door to new opportunities.
Build a More Diverse and Inclusive Workforce with Jobvite
Remember, diversity, equity, and inclusion is a journey, not a destination. Start building stronger teams and make your workforce more inclusive with Jobvite Diversity, Equity, & Inclusion Hiring Tools. Put your DE&I goals into action with the right people, processes, and technologies that create opportunities for underrepresented communities and mitigate hiring bias.
If you want to go deeper on the importance of building strong DEI programs in your business, download our latest report: Diversity, Equity, and Inclusion Spotlight: Examining DEI Across the Talent Lifecycle. Find out new data and insights on DEI across each stage of hiring and get key strategies for tackling DEI in your organization.