8 Reasons: Why Diversity and Inclusion is Key To The Success of Your Business

Sofia Imtiaz

We’ve all heard the mantra in the business world around diversity and inclusion and how it is essential in an organisation as it brings together a healthy variety of people from different backgrounds to provide a balance of voices. However, even though studies have shown great benefits to businesses if they adopt a more diverse hiring strategy, there are many that still don’t have a balance of different people working for them.

It’s clear that this needs to be changed and in this article, I take a look at all the different reasons why D&I is essential in business and how it can have a huge positive impact both in the short and long term.

1. Improved creativity and innovation

If your business has an environment that’s made up of employees from a whole range of different backgrounds, they bring with them a mosaic of skills, experience and knowledge. This mixture of people will automatically mean that you’ll see an increase in creative ideas and innovation. The impact this can have on a business can be huge, helping the business expand in the long term.

If your employees feel more comfortable when it comes to sharing ideas then your business will stand out from others that function with only “one voice”. With a whole host of different perspectives and experiences coming together, you’ll see some benefits that will make you wish your business had adopted this strategy sooner.

2. Boost for your Business

An important factor that people will consider when accepting a role with your business is your diversity and inclusion. Potential employees that see that as a business your workforce is made up of people from varying backgrounds will more likely accept your offer and feel more welcomed. By doing this, your business will also be hiring the best talent available as well, making sure that people are hired based on skills and not just because of the demographic they come from.

3. Employ a wide range of skills thanks to diversity

When you bring people from all backgrounds into your business you’re bringing on a wide range of skills that can help enhance your productivity. When you have a diverse and inclusive work environment you’ll allow for varying perspectives to be integrated in your brainstorming sessions, in problem solving and the development of new ideas for the business.

4. An Increase in Productivity

Productivity in your business can be increased by teamwork and collaborative work. This can happen when you have a diverse team that provides a range of skills and it allows other team members to learn and work well with each other. By experiencing an increase in productivity you’ll ensure an environment where ideas can be exchange, which will result in a thriving business in a short period of time compared to competitors that don’t have a diverse and inclusive workforce.

5. Happier Employees

When you have a diverse and inclusive workforce you’ll find that your employees are happier. When they work in an environment that champions inclusivity and diversity they’ll be happier to be at work which will reflect in the work they produce. Your employees will thrive in their roles which will also mean your business will thrive overall.

6. Broader Talent Pool

If your business champions diversity and inclusion then your talent pool broadens exponentially. It’ll mean you have much more talent to choose from as it’s no longer about bringing people on board that look a certain way, but rather based on their skills and what they can contribute to the business. This’ll help the growth of your business as you’ll be bringing on only the best talent

7. Higher revenues

You’ll start seeing higher revenues if you strategize a diverse and inclusive workforce. Due to all the aforementioned reasons, you’ll start seeing new ideas emerge, an increase in productivity which will inevitably lead to greater success within your business. This will allow your business to flourish and stand out amongst competitors.

8.Better Understanding of Your Customers

When you have a diverse and inclusive team you’ll not only benefit your own business internally, but also your customers and prospective customers. This will happen as you’ll be able to promote and market your organisation to those from different backgrounds that reflect your workforce. Employees will be able to market your business effectively as they come from similar backgrounds to your target audience. There’s only room for growth for your business as you learn the differences between groups, what works, what doesn’t, what their needs are, and how best to position yourself to them to become an attractive offering.

It’s clear that businesses should be taking a more proactive stance on bringing people from various backgrounds on, and developing a more diverse workforce that accurately reflects the real people that make up our society today. What do you think? Have I missed out any other benefits? Let me know in the comments.

If you’re looking for new talent then please get in touch with me and I’ll be able to help you attract the right candidates for your business. Click here.