The Benefits of Diversity and Inclusion in the Workplace
In most organisations, there has been a priority on diversity and inclusion in their workplace. The culture of an inclusive and diverse workplace helps make the organisation open to everyone and welcoming, including the customers and the staff members. It makes the organisation and the employees more versatile and flexible, performing better and generating higher growth of revenue and setting up a benchmark for its rivals. According to a survey by PWC, almost 75% of the respondents say that diversity is the main priority area in their company. Another research done by Gartner says that the performance of an organisation having a diverse workforce enhances by 12%. Furthermore, the enhanced revenue of the diverse management is increased by 19% while the cash flow of diverse companies is 2.3 times higher per employee.
Diversity in the Workplace
Diversity in the workplace consists of employees of various races, ages, skills, physical abilities, ethnicity and various other factors, which makes differences among individuals working together. This means that the organisation hires a diverse group of individuals who considers the society in which the organisation persists and operates. It is mainly about finding out that every employee working in the organisation has different mindsets and qualities, and they bring significant insights to their workplace.
As per the Equality Act 2010, diversity varies in disability, gender reassignment, sex, pregnancy and maternity, marriage and civil partnership, age, belief or religion and sexual orientation. Even though diversity in the workplace is much more than the characteristics that are legally protected, it involves both visible as well as invisible factors like types of personality, cultural and economic backgrounds, different work approaches and the elements that jointly affect the business.
Inclusion in the Workplace
Inclusion in the workplace means that the contribution of every employee is identified, valued and admired without checking up on their working styles, personal characteristics and diverse backgrounds. An inclusive workplace considers the differences in individuals as well as the diversity of the employees. This makes every employee feel safe, and their work can be valued and respected. There are so many advantages of inclusion in the workplace of an organisation. An inclusive workplace provides equal access to resources, opportunities and support to each of its employees. It also aids in the prioritisation of eliminating discrimination, harassment and biasness and making sure that each employee working in the organisation feels appreciated, valued and respected regardless of their differences and individuality.
Advantages of Diversity and Inclusion in the Workplace
Creating a diverse and inclusive workplace is no longer a trend. A diverse and inclusive workplace’s advantages directly affect the company. Execution of a diverse and inclusive mindset in the company aids in nurturing an environment for employees of varied ranges of ages, gender, languages, education, ethnicity, races, sexual orientations, abilities and cultural backgrounds and so on. Several advantages of diversity and inclusion in the workplace critically affect organisations in the short and long term.
- Greater innovation and creativity – A workplace with employees from various backgrounds and a varied range of skills, experiences, understanding and knowledge is ample in creative and innovative ideas. The employees of an organisation become more comfortable while sharing their points of view and opinions without feeling any hesitation regarding ridicule and discrimination when working in a diverse and inclusive work atmosphere. Collaborating with different employees with different viewpoints leads to multiculturalism in the working environment, highlighting a range of novel and fresh ideas, which eventually helps the business stand out from its rivals, reach greater heights, and become successful in the long run.
- Getting more opportunities for professional and personal growth – Organisations which have adopted diverse and inclusive workplaces seek to hire ambitious, motivated and talented candidates who have been trained and have learning opportunities for their professional and personal growth. One of the advantages of inclusion in the working environment is that the employees working in the organisation are more comfortable communicating and interacting with their colleagues. This also helps in leading to the exchange of ideas and opinions. Different employees come across various perspectives and cultures, leading to better interpersonal communication and understanding. Furthermore, diversity and inclusion decrease cliche and preconception that becomes a barrier to the progress and growth of the organisation.
- A diverse set of skills – The basic advantage of diversity and inclusion in the working environment is that it comes with various skills. Whenever an organisation hires individuals from various backgrounds with exceptional capabilities, each individual is hired on their unique skills, which helps the business expand and reach greater heights. A diverse and inclusive workplace identifies the abilities and skills of every employee, making a place for wider points of view in decision-making, problem-solving and the creation and development of novel business ideas. With a larger variety of skills, an organisation has a greater reserve of abilities and expertise to work to achieve their desired goals.
- Faster problem- Solving ability and better decision-making – Organisations having higher diversity in their workplace rapidly work for problem-solving and thus make better and enhanced decisions in business. Diverse employees can solve problems faster than individuals with identical cognitive abilities. Employees coming from various backgrounds also have exceptional experiences, mindsets and opinions. Therefore, they can provide solutions which can be exceptional for a problem. Different solutions from various viewpoints result in more informed and efficient decision-making and consequences.
- Better performance of employees – The performance of the employees enhances when they feel that they belong to their working environment. They focus on their work properly without feeling uncomfortable regarding themselves or their work. In simpler words, diversity and inclusion in the workplace develop a sense of belonging in the employees working in the organisation which ultimately enhances their performance on the job. Employees make sure that their organisation values and respects their work and efforts, motivating them to work harder and in a better way for the business. Contrary to that, organisations that do not embrace a culture of inclusion and diversity have employees feeling that their efforts must be acknowledged and valued.
- Higher retention of employees – The most visible advantages of inclusion and diversity in the workplace are enhanced retention of employees and decreased turnover. Companies with diverse employees are mainly more inclusive because of the different perspectives and differences among individuals, which also makes the employees feel that their efforts are accepted, valued, and respected. When they feel so, they are more satisfied with their work and efforts and are happier and thus decide to work for the organisation for longer. Therefore, a workplace having a culture of diversity and inclusion exaggerates the reduced turnover rates of the employees. This also develops the employee`s mindset with a sense of belonging, making them work for the organisation longer.
- Enhanced productivity – An organisation with a diversity and inclusion culture directly affects productivity. Initially, diverse teams of the organisation come with a varied range of experiences and skills in front of everyone, which allows co-workers and colleagues to learn and enhance their skills from each other while working together. Furthermore, a group of employees working together in a diverse atmosphere means that their ideas flow freely from one individual to another. Overall, the cooperation and work of an inclusive and diverse team play a crucial role in enhancing productivity and aiding the organisation to achieve success in a shorter span. Organisations which follow this culture automatically stand among their rivals which do not exist with the talent of an inclusive and diverse workplace.
- Positive reputation of the company – Organisations that mainly focus on creating and motivating an inclusive and diverse culture are considered humane and socially responsible. They are mainly recognised as unbiased and progressive business firms that respect and value individual differences. Furthermore, diversity in the working environment helps make the organisation look more real. It develops a positive image of the brand, which makes the organisation stand out against its competitors.
- Enhanced profits – Organisations with higher workplace inclusion and diversity tend to attain more profit. Employees working in a diverse workplace can make better business decisions and quicker to solve any problem, providing them with greater benefits than their rivals. Furthermore, an inclusive and diverse workplace also aids in enhancing the employee’s performance and boosts productivity, which ultimately gets reflected in the organisation’s bottom line. Therefore, organisations create more enhanced business results, perform better financially, generate higher revenues and achieve more profits.
- Better quality of hiring – Organisations with an inclusive workplace culture have more opportunities to attract and retain candidates of high quality. A workplace with a culture of diversity and inclusion is the most advantageous quality for individuals looking for newer opportunities. Accepting inclusion and diversity culture in an organisation authorises hiring more qualified and talented candidates from a broad pool. Contrary to this, when an organisation fails to develop a culture of inclusion in the hiring practices, they may start eliminating the candidates who have put in their efforts and added value to the organisation’s success.
- Better relations with stakeholders and investors – An important advantage of having inclusion and diversity in an organisation’s workplace is making better relations with the business partners or stakeholders, customers and corporate investors. The stakeholders of a business firm consist of individuals with different religious affiliations, backgrounds, sexual orientations and ages. Therefore, their ideologies and personal points of view affect the decisions strongly that are to be made by the organisation. Corporate investors mostly prefer investing their money in organisations where they can relate. This is similar to the consumers who are mostly associated with brands according to their ethos and beliefs.
Inclusion and diversity in the workplace take the organisation’s culture to a whole novel stage, opening doors for expansion, growth and opportunities. Inclusion and diversity are powerful as well as important tools for the success of the organisation in the long term. As there are many advantages of having inclusion and diversity in an organisation, they still have to take bold steps to promote a workforce that identifies modern society as heterogeneous.
The advantages of inclusion and diversity in the workplace are not restricted to bigger business firms. Even startups, small companies, or businesses can take dynamic steps to value and acknowledge the diversity of employees to create an inclusive environment.
Author Bio: Mark Edmonds, a refined essayist at Academic Assignments, brings an abundance of insight to the conversation on “The Benefits of Diversity and Inclusion in the Workplace.” Enthusiastically for empowering workplaces through his words, Mark is a driving power behind Academic Assignments’ obligation to providing top-level assignment writing services. His commitment to fostering understanding and progress in professional workplaces shines through in his provocative commitments that inspire positive change and development.