Benefits of Embracing Diversity in the Workplace

“When we listen and celebrate what is both common and different, we become wiser, more inclusive, and better as an organization.” 

This quote by Pat Wadors, the Chief People Officer at Procore is the perfect segue to take a deeper look at building diversity in the workplace.

 

What exactly is diversity?

Diversity refers to the differences between individual people.

A diverse workplace is an all-inclusive environment that provides equal rights and opportunities for all employees, irrespective of their color, gender, age, ethnicity, culture, physical ability, and so on.

 

The benefits of workplace diversity

While not only being a moral necessity, an inclusive workplace has a variety of financial and productivity benefits. A workplace diversity plan offers a win-win situation for both employers and employees. Working with colleagues from different backgrounds helps a company to look at tasks from different angles. 

 

5 benefits of workplace diversity:

  • Improved company culture

Company culture can be described as the personality of a company. Cultural diversity broadens employee perspectives and helps to keep the company culture growing.

  • Increased knowledge and skills

Businesses gain from a wider spectrum of creativity and perspectives, by recruiting employees with a broad range of backgrounds and skills. 

  • Boosts company reputation

Workplace diversity attracts clients who want to partner with companies whose business practices are inclusive.

  • Having a better understanding of clients

A diverse team of employees allows for a better connection and deeper insights into their client base. 

  • Reduced employee turnover

Long-term employees enhance the external perception of a business. Employees that feel valued and supported in their work environment, feel happier with their employer and are inclined to stay longer.

 

Tips to building diversity in the workplace

  • Recruit and hire talent from diverse backgrounds.
  • Treat each employee as an individual.
  • Form an inclusion committee.
  • Create more inclusive workplace policies. 
  • Organize activities that celebrate employee differences.

 

Delivering on your diversity goals in 2022

3 ways to take your diversity goals to fruition in 2022:

  • Keep in touch with your employees

Engage with and listen to your employees. Understand what diversity means to them, and ascertain whether they are happy with the changes the company is making. Be sure to implement suitable suggestions received, to help ensure a successful outcome. 

  • Out of Office Diversity

Show your commitment to your diversity goals by partnering with vendors who have also adopted an employee diversity strategy.

  • Goal Orientated

Set objectives and create a clear plan to help you reach your diversity goals in 2022. Your goals should be specific, measurable, achievable, relevant and time-based.

 

Generational diversity in the workplace

Having a multigenerational workforce can be a distinct advantage for companies. Leveraging the unique strengths of different generations and enabling them to learn from each other creates a more collaborative, engaged environment.

‘Reverse mentoring,’ is an interesting trend, where a younger employee and older employee work together to learn new ideas.

 

Gen Z’ers

Gen Z’ers will be completing college and entering the workforce in increasing numbers during the course of 2022.

Research has shown that the following workplace factors are important to Gen Z’ers:

  • Having a good work-life balance.
  • Company values that match their own.
  • Having a deeper purpose, beyond simply making a profit.
  • Career development opportunities.
  • Ethical brand reputation.

 

Workplace diversity statistics

The following stats lend further credence to the importance of diversity and inclusivity in the workplace:

  • 85% of CEOs report that having a diverse and inclusive workplace improved their bottom line, according to PwCs 18th Annual Global Survey.
  • Inclusive companies are 1.7 times more likely to be innovation leaders in their field, according to Josh Bersin’s research.
  • 57% of employees want their company to do more to increase diversity, according to Glassdoor.

 

Diversity is celebrated and infused into the DNA of Sepire’s culture. We believe a gender and culturally diverse workplace promotes innovation and business success, and it also helps us to retain top talent. 

Learn more about the various ways in which diversity and inclusion is promoted at Sepire .