6 reasons why investing in Diversity is important

Diversity and equality - hr for smes
Diversity and equality

6 reasons why investing in Diversity is important

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Justin Trudeau, Prime Minister of Canada, said in January of 2017 to the Syrian refugees, “diversity is our strength.”

It is something that we totally agree with at HR4SMEs, and in this post we leave some of the reasons and theories that support that Diversity will make any team better.

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, so as an SME owner or manager, we will explain how Diversity in the workplace can be helpful for your company and your team and how it can make your company more successful.

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.

Today, we want to give you our five main reasons on why we truly believe in diversity. Reasons that make your company more efficient and productive.

Six reasons to invest in diversity

  1. Your business will be unic: A diverse team unites people that are not only specialists in the field, but also has experience, knowledge and different priorities. This offers you 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. Understand your clients better: 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, improving 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. This will also avoid legal problems in the future 🙂 And less HR issues like employee relations.
  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. 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.

There are many more reasons why it is worth investing in diversity. Which are the most important for you?

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