There are a lot of studies available showing the benefits of having a diverse and inclusive workforce. These studies show that diverse organisations are:
➡️ 33% more likely to generate better-than-average profits
➡️ 70% more likely to capture new markets
➡️ 1.7 times more likely to become innovation leaders in their field
➡️ in a better position of attracting top talent
A diverse and inclusive workplace means people of - for example - all genders, ethnicity, cultures and age are accepted and included to reach a common goal. Such a workplace can help organizations in many ways. Mainly, it can serve as a reflection of the world we live in and can help companies better adapting their products & services to the needs of their customers.
Diversity is no longer just a matter of regulatory compliance or even social justice. However, a lot of companies are struggling with their D&I strategy and find it hard to move beyond the numbers. A first step would be understanding the importance of diversity and treating each employee as a unique person. This allows a company to emphasize workplace inclusion and cultivate a healthy and inspiring culture.
People are definitely the heart of a company. A thriving organization translates into happy employees who deliver greater productivity and profitability, thus enabling the growth of the business. However, it is not always easy to know what’s really going on inside a company.
With the World Day for Cultural Diversity for Dialogue and Development (https://en.unesco.org/commemorations/culturaldiversityday) approaching On May 21st, I thought it would be good to emphasize the importance of cultural diversity in the workforce.
What exactly is cultural diversity? Cultural diversity is the existence of a variety of cultural groups within a society. When talking about a culturally diverse workplace, it refers to the result of practices, values, traditions, or beliefs of employees from different backgrounds, different races, different sexual orientations and different political views.
Some challenges which are often mentioned when trying to establish a culturally diverse workplace:
➡️ Misinterpretations across languages and cultures
➡️ Prejudice or negative cultural stereotypes
➡️ Conflicting etiquette and working styles
➡️ Hurdles to take with regard to employment laws
When companies succeed, the benefits are clear. For example, cultural diversity:
➡️ Inspires creativity and drives innovation
➡️ Leads to more opportunities for personal and professional growth
➡️ Broadens your appeal to prospective employees
➡️ Generates more productive and better performing teams
➡️ Builds the foundation for mutual respect and collaboration
Cultural diversity is definitely here to stay. What does your organisation do to manage and promote cultural diversity? How successful is this strategy?