The world is overall becoming more tolerant on diversity, and companies are being shaped by this trend. It is becoming increasingly important for companies to take advantage of the innovation and relevance a diverse workforce brings.
So why is it pivotal for companies to support diversity – whether it be in gender, ethnicity, sexual orientation, religion or disability?
The facts speak for themselves
According to Deloitte, highly inclusive organizations generate 1.4 times more revenue, rate themselves 170% better at innovation, are 180% better in their ability to adapt to change, and are 120% more capable of meeting financial targets. This shows that clearly diversity of ideas and backgrounds drives companies forward.
External opportunities for the development of staff
There is a growing industry of global networks aimed at empowering and connecting minority professionals. Whether it may be RAHM (a global LGBT+ leadership network holding regular innovation competitions) or PWN Global (a professional women’s network, holding mentoring schemes and networking events), there are so many initiatives that will drive your diverse workforce and enhance their work.
Recognition and reputation
Being regarded as an ‘LGBT+ friendly workplace’ or one with females in its leadership board are what many companies are fighting to be recognized as. Both Forbes and Fortune rank the best workplaces for diversity, giving your company the chance for attention and a larger interest from potential employees, who will feel more at home in the workplace environment.
A global mind-set in the work place
Being a global company is more than just having branches abroad, it’s about thinking globally. Having a diverse range of staff from around the world gives you the advantage of incorporating first-hand ideas from other countries and gives you a greater outreach to your consumers through language.
Relevance to the diverse societies of today
There is nothing more embarrassing than a marketing campaign considered culturally insensitive. Being in touch with the real world of today is essential, and having a diverse, multi-ethnic workforce will drive this. Not only will your products or services be more relevant to society, but a greater range of consumers will be attracted to them by relating to the brand and the people behind the brand.
Remember that hiring diverse is sometimes not enough to gain the above benefits, it is also down to ensuring an inclusive working environment where all staff feel empowered. AIESEC – the world’s largest youth-led organization – gives instant access to over 2,500,000 young talents from over 120 countries and territories. Head to our partners’ portal to begin your companies’ journey to a diverse workplace.