Workplace Diversity and its importance

Workplace diversity is the term used for the workplace composed of employees with varying characteristics, such as different sex, gender, race, ethnicity, sexual orientation, etc.

More than ever, employers are prioritizing diversity, equity, and inclusion (DEI) initiatives and investing resources into making sure their teams are set up for success. Focusing on DEI is not only the smart thing to do for your business but also the right thing to do as a human, for humanity.

Increasingly, business leaders are seeing that encouraging diversity in the workplace has several tangible benefits, for the company and for its employees.

In the following article, HRavailable look into the meaning of diversity & inclusion, the importance of diversity in the workplace; as well as the competitive edge it can give your business; in terms of graduate recruitment and beyond.

What is Workplace Diversity?

Diversity encompasses the qualities and characteristics that distinguish individuals from one another. Diversity in the workplace refers to an organization that intentionally employs a workforce comprised of individuals with a range of characteristics, such as gender, religion, race, age, ethnicity, sexual orientation, education, and other attributes. The number of factors that define diversity is truly unlimited. Throughout an individual’s life, the unique biological and genetic predispositions, experiences and education alter who they are as a person. These experiences are what diversify and evolve the community, allowing individuals to connect and learn from each other.

Types of Workplace Diversity

There are many different types of workplace diversity. In the beginning, the term diversity was used primarily to address racial and ethnic diversity.

However, in recent years, the term workplace diversity has been expanded to encompass many different characteristics, such as:

• Race
• Ethnicity
• Age
• Citizenship status
• Education
• Sexual orientation
• Physical abilities and disabilities
• Income
• Skills
• Beliefs
• Upbringing
• National origin
• Management status

Benefits of Workplace Diversity

Workplace diversity is not just something that improves your company’s reputation. Workplace diversity also has many direct, tangible benefits.

Here are the commonly cited benefits of workplace diversity:

1. New Perspectives

When you hire people from diverse backgrounds, nationalities, and cultures, you’re bringing a fresh array of perspectives to the table. This can lead to benefits like better problem solving and increased productivity.

Diversity in the workplace will often result in a much broader spectrum of creativity, from people with different backgrounds, skills and experiences.

A wider range of different perspectives will be highly beneficial across all teams; from marketing to finance.

2. Increased Employee Engagement

Generally speaking, employees who feel included and wanted will be more engaged and motivated to do well.

In turn, a more engaged team will often yield better team performance; making it a win-win for employers.

3. Reduce Employee Turnover

Companies with a diverse workforce will tend to retain employees for longer, because ultimately employees who feel accepted and valued will be much less likely to leave.

Likewise, companies who clearly value career development, and really care about their employees, will tend to have a much higher retention rate than those who don't.

4. Better decisions and are more adaptable

Not only do diverse teams make decisions quicker, they also make better decisions. Better decision-making leads to adaptability. Having a more diverse team means having a wider range of skills and ideas, which makes a team more adaptable and amenable to change—leading to greater business success in the competitive global business environment.

5. Higher Morale values

Companies that make diversity and inclusion as part of their mission are seen as desirable, socially responsible organizations; leading to a better reputation with customers and investors.

A truly diverse workplace features a distribution of people that reflects greater society. This indicates that the company doesn’t present any barriers to entry for individuals of any particular background.

Any worthwhile definition of workplace diversity also includes the notion of inclusion. Whereas diversity is more of an objective measure of how different employees are from one another, inclusion is about whether employees truly feel like they are accepted, their voices matter, and that they belong.

So let HRavailable conclude that, it’s not enough just to be diverse, a company must also be inclusive.

If you're looking to recruit a diverse workforce, get in touch today for access to thousands of excellent candidates through our recruitment services portal HRavailable.

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