The importance of diversity and inclusion in the workplace

Benefits of diversity and inclusion in the workplace

1. Diversity fosters creativity.

Just think about it yourself, the more diverse people you have around you, the more ideas, perspectives, and influences you will have. The same counts for your workforce. By bringing together people with different cultural backgrounds and life experiences, you are set to innovate like no other! Members of diverse teams see things in a variety of ways, they are more likely to recognise new and different market opportunities, they might even notice unmet market needs.  

By working together with people who have different backgrounds and experiences, we are given the chance to take different perspectives into account. These are especially beneficial when it comes to the expansion of products and services into new markets, as well as becoming culturally sensitive when entering a new region. Remember, what works in one country might not work in another.  

2.  A diverse workforce simply outperforms. 

Besides fostering creativity, a diverse team can lead to business growth. Research done by McKinsey shows that large businesses who have more women and ethnically-diverse managerial teams see a stronger financial performance. The study suggested that companies where women made up to 30% of the executive team outperformed businesses with fewer female leads by as much as 48%. In addition, the most culturally and ethnically diverse companies outperformed less diverse businesses by as much as 36%.  

Further research shows that without diverse leadership, women are 20% less likely than straight white men to win endorsement for their ideas, whilst people of colour are 24% less likely and employees from the LGBTQ+ community are 21% less likely. This costs companies crucial market opportunities as diverse contributors are more likely to understand the needs of under-leveraged markets. Another reason to have a diverse workforce is that when at least one member of a team has similar traits or shares the same ethnicity as an end-user or a client, the team is 152% more likely to understand the client’s needs.  

Courses to stimulate diversity and inclusion.

Becoming a more diverse and inclusive organisation goes beyond creativity, innovation, and business growth. It should be a no-brainer that everyone should feel welcome at the work, regardless of where they are from or their sexual orientation. Need a nudge in the right direction to become a more diverse, inclusive and equity-friendly organisation? We got you covered, try out some of our courses!  

Research report: The Current State of Diversity and Inclusion 

Diversity and inclusion is on the rise and the pandemic has enabled organisations to look for solutions beyond what they thought was manageable. Companies have discovered that bringing together people from all corners of the world not only positively impact their business, but with the right skills they can become one united workforce where everyone feels included.  

In our latest research report, we address the challenges many organisations are currently facing whilst also sharing tips on how to make their teams more D&I-friendly. Are you ready to improve the current state of diversity and inclusion at your organisation? Download our report today and keep you and your organisation up to date!