Organizational diversity is the presence of several traits among various employees of the organization. These characteristics could be because of belonging to diverse cultural and ethnic backgrounds, for the employees bring diverse perspectives to the team. For a diverse organization, inclusivity is critical for its diversity to succeed. Inclusivity refers to social norms in the organization that makes employees feel welcome and ensure a sense of belonging in the workplace.
Benefits of having an Inclusive and Diverse workplace
A diverse and inclusive workplace has its own merits. Some of them may be,
- Higher productivity in teams throughout the organization,
- Lower employee turnover,
- Increased problem-solving abilities in the workplace,
- Increased learning flexibility, allowing employees to learn from their peers at various levels of the organization,
- Improvement in morale and employee quality throughout the organization.
According to recent research by McKinsey, gender and ethnically diverse companies outperformed their peers by 15% and 35%, respectively. While this small piece of statistics shows the impact of Inclusive Diversity (ID) in the workplace, especially in the corporate world, we assure you that it is but the tip of the iceberg.
Read on to know more reasons why you must invest in Inclusive Diversity in the workplace for the long-term success of your organization!
Attracting a diverse workforce is the goal of every hiring manager, but how successful are we in retaining talent?
Focusing on building a diverse workforce with Inclusiveness and equity left out of the equation in the workplace could do the organization more harm than anything. It not only gives rise to a hostile work environment unsure of how to treat its diverse employees, but it eventually leads to higher employee turnover rates.
For global reach, organizations must start profiling and hiring from diverse talent pools to employ the best talent in the workplace. Our strategies for engaging employees must go beyond hiring from the same colleges for the advantage of proximity and familiarity to include well-laid plans that help us tap into the vast potential coming with diverse talent pools.
Internationally, corporates have been reaping the benefits of investing in building Inclusive cultures by sowing the seeds much earlier. Imbuing and preparing our teams for Inclusive diversity is a long-term investment, but one that would pay off more than we now foresee.
In the current dynamic business environment, the need of the hour is bold and proactive decision making, and Inclusive diversity promises just that! Teams made of employees and leaders from diverse social constructs with unique out-of-the-box ideas, employees and leaders who are confident, rather than apprehensive in voicing out their opinions, ensure a culture of innovation and creativity, thereby fostering Inclusive diversity in the workplace.
Inclusive Policies that grant flexible hours, daycare services, and similar programs considering unique personal commitments for their female workforce, in particular, enable talented employees to perform their best and flourish in their companies reducing employee turnover to a great extent.
Several types of research indicate a positive correlation between companies that advocate LGBT inclusive and supportive policies and their productivity, performance, and profitability.
The biggest win for such organizations is creating a comfortable workplace for their employees to come out about their sexual orientation without the fear of judgment. The companies recognized globally as the most innovative and inclusive companies are those with stringent LGBT inclusive, anti-discrimination, and support policies in their workplace. Customer perception of these organizations has been tremendously positive, giving way to better customer relationships!
Clients have begun assessing service providers based on the employee diversity of their organization. Incorporating Inclusive Diversity and making it a part of the organization’s DNA could do wonders for the customer satisfaction that enterprises have been vying for, for decades. It is time we began building and sustaining diverse teams capable of designing and testing products/ services/applications to satisfy our organization’s Diverse end consumers.
Based on research by Catalyst, companies with more women on the Board of directors have been frontrunners in Inclusive diversity, outperforming their peers over long periods of time. Women leaders are often known to exhibit leadership styles that include good listening skills, and exceptional communication skills, fueled by empathy and a focus on team building, creating a progressive workplace. Furthermore, women leaders are known for their detail orientation and multi-tasking abilities, among many others, making them a force to be respected and reckoned with. To reap the benefits of having more women leaders, organizations need to work on policies that pave the way for unbiased workplace policies, enabling women to climb the corporate ladder for the sake of the organization.
In summing up, a workplace with policies of Inclusive Diversity welcoming every employee, irrespective of their background, sexual orientation, gender, race, colour, disability, or just about anything that differentiates them, sparks creativity, empathy, and innovation. It is the combination capable of converting your organization into a powerhouse of talent, productivity, and unparalleled success! Finally, your Competitors are already reaping the benefits of creating a diverse and inclusive work culture. Are you on top of your game?
To know more about our Prevention of Sexual Harassment (PoSH), Diversity, Equity and Inclusion (D,E&I) and Employee Assistance Programs (EAP) solutions do write to us at firstname.lastname@example.org or call us at +91-7200500221