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7 reasons why investing in Diversity in the workplace is important

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Justin Trudeau, Prime Minister of Canada, said in January of 2017, while one of the many Syrian refugees crisis, “diversity is our strength.” He didn’t mean it just as it was a good willing to help others, but because diversity improves any society, culture and business. For that reason we aim to show you on this article how investing in diversity in the workplace can really help your business.

If you read us often, you know by now that we don’t focus on things that are just best practice for a HR process. We aim to give you business reasons to help you as an SME owner or manager. For that reason we will explain how Diversity in the workplace can be helpful for your company and your team. Also how it can make your company more successful.

What do professionals say about investing in Diversity?

According to the CIPD, the Chartered Institute of Personnel and Development, diversity and inclusion in the workplace are an important aspect of managing a team. It emphasizes the importance of treating each team member as an individual, and explain that this practice can well support the objectives of an organization.

A diversity strategy, it not only means complying with the rules of the country where you are, but also trying to understand what is needed by the company, hire very diverse people, and invest in the welfare of all employees. It is something that changes from company to company, and that has to be studied case by case. There are general guidelines, which can be applied to every organization, but to really get a balanced and successful team, you have to look at each company individually, and implement tailored strategies and processes. “

Chartered Institute of Personnel and Development.

Seven reasons to invest in diversity

1. Your business will be unic

A diverse team unites people that are not only specialists in their field, but also has experience, knowledge and different priorities. This offers your company the possibility to create a unique team, like no other. Porter explains in his model of competitive forces analysis that when we talk about rivalry between competitors, one of the big problems is the lack of differentiation. This is exactly what diversity solves, Different people with different ideas.

2. Better understanding of your clients

All your customers are different. Having employees with a varied experience opens the possibility that one of them will understand better the position, opinion and needs of the clients. This will definetely improve the service that you can offer.

3. There will be more ideas and further innovation

It has been proven that a diverse team is in itself more creative. You are not going to be very creative or think about new ideas and ways of doing things if you think all the same. It is having a different opinions and different people that cause ideas to be generated. When nobody challenges what you think or what you take for granted, it is difficult for you to come up with new initiatives.

4. You will promote equality

Focusing on the person, instead of their origin, experience, sex, age or nationality facilitates equality. It lets you focus on what each person can bring to the team and the company, and helps you create a balanced and diverse organization. The great benefit of this, is that not only it will also avoid legal problems in the future. It will also created less HR issues like employee relations. But it also, it will create a better employer branding and improve the efficiency of any recruitment you might start and increasing your retention rate.

5. You will learn to lead better, and this makes you stronger.

When there is a team of many opinions and many ideas, you need a leader who can lead a team well. It will not always be easy to be the leader. Having very different employees will help you learn how to work with people who do not always agree with each other. Nobody says it’s easy. But it is beneficial.

6. Avoid missing great candidates in your recruitment processes

By definition, you will avoid the HALO effect in your HR processes. If all of you are different, it will be challenging to be subjective in your management decissions. You will all have different backgrounds and even if one of you tend to take decissions based in previous personal experiences, he or she will be challenged by the rest of the managerial team. Why is this good? You will be selecting a wider range of candidates with the best experience and background. By having similar professionals, you could end up just hiring the same background. Even if that means leaving great candidates out of your recruitment process.

7. Do business with your local or national government by investing in diversity

It will allow you to bid on governmental business as a provider. Many national and local governments include it as a requirement to do business with a company. Therefore, if you are aiming for big contracts with your administration, and even if you didn’t believe a word of the previous 6 points, this should push you in the way of looking to invest in diversity in your company.

How can I build a more diverse workplace?

It starts with really believing on it, However, if you are really interested and decided to start working on your diversity strategy, we have prepared a post for you that will guide you on how to create a really diverse company.

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