The Benefits of Diversity in the Workplace, Explained

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How diverse is your organization?

If your organization is anything like the vast majority of organizations in the U.S., chances are it’s not as diverse as it should be. Only 6.6 percent of Fortune 500 companies have women CEOs, for example.

As a business owner or manager, it’s your job to create a diverse workplace. This is the kind of workplace that comprises employees with different characteristics, including gender, sex, ethnicity, and race.

But why is it important to build a diverse workplace? Continue reading to learn the benefits of diversity in the workplace.

Workplace Diversity Increases Talent Acquisition

As an employer, one of your primary objectives is to bring in quality talent. There are some steps you can take to achieve this, including outsourcing the task to a recruitment agency.

However, did you know building a diverse workplace is one of the most high-impact ways to make talent acquisition easier? According to a recent Glassdoor survey, 2 out of 3 job seekers want to work in a diverse workplace.

Why? You ask.

A diverse workplace is an inclusive workplace. If a person of color is looking for a job, for instance, they aren’t going to fancy working in an organization that has no person of color on the team.

Besides aiding your talent acquisition efforts, workplace diversity also aids your ability to retain your employees. This leads to a low employee turnover.

Increased Employee Satisfaction

The average worker in the U.S. hates their job.

There are many reasons behind this, but one of the most common ones is poor workplace diversity. If there aren’t enough workers who have certain characteristics on the team, an employee who has those characteristics is bound to feel out of place.

As an example, picture a workplace that has 20 male workers and 2 female workers. The female workers can hate their job simply because there aren’t enough women on the team.

There should be equal or equitable gender representation in a workplace that puts diversity first. In such a workplace, employees are more likely to feel satisfied with their roles and the workplace in general.

Greater Revenues

Almost every decision you make has one ultimate objective: to increase revenues.

On the surface, workplace diversity might not look like a way to increase organizational revenues. However, when you look at its direct benefits, such as increased employee satisfaction, you start to understand how it can be good for your bottom line. Satisfied employees are more productive, and increased organizational productivity leads to an increase in revenues.

As such, don’t shy away from investing in workplace diversity. Programs such as diversity and equity training for employees will cost you money, but the return on investment will be worth it.

Reap the Benefits of Diversity in the Workplace

What’s preventing you from building a diverse workplace? Maybe it’s because of the associated cost or you don’t believe it’s necessary. However, the benefits of diversity in the workplace can take your organization to the next level.

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