Diversity and business performance There is substantial research to show that diversity brings many advantages to an organization: increased profitability and creativity, stronger governance and better problem-solving abilities.

An increase in market share: A recent Deloitte study showed that diversifying the workplace will help a business increase their market share. Increased exposure: Working with people of diverse interests means that you will attract the attention of different sets of customers, businesses, and potential employees.

A diverse workforce is more likely to understand your customers’ needs and come up with ideas to fulfill them. Diversity in the workplace will also increase employee morale and instill a desire to be more effective and work more efficiently. This will greatly increase the productivity of your business.

on organizations generally suggests that organizations with more diversity outperform less-diverse organizations on the basis of profit, employee engagement, productivity, and creativity. Introducing diversity to formerly homogeneous teams lowers cohesiveness and increases conflict.

Diversity in the workplace brings many benefits to a company as a whole. It’s known to create a competitive advantage for businesses, meaning it allows them to differentiate themselves from their competitors. Many companies desire employees who have different backgrounds and experiences.

Diversity brings in new ideas and experiences, and people can learn from each other. Bringing in different ideas and perspectives leads to better problem-solving. Working in diverse teams opens dialogue and promotes creativity. The value of diversity is true for our culture, too.

Diversity enhances creativity. It encourages the search for novel information and perspectives, leading to better decision making and problem solving. Diversity can improve the bottom line of companies and lead to unfettered discoveries and breakthrough innovations.

1. It help people to come in contact with different culture, traditions, language and develop new ideas and perceptions. 2. It helps people to gain new experiences and interactions among people become more stronger.

Diversity, including diversity of gender, religion, and ethnicity, has been shown to improve retention and reduce the costs associated with employee turnover. In a diverse workplace, employees are more likely remain loyal when they feel respected and valued for their unique contribution.

Ultimately, studies show that diversity in education, particularly on college campuses, improve the “intellectual engagement, self-motivation, citizenship, and cultural engagement, and academic skills like critical thinking, problem-solving, and writing – for students of all races.

Federal laws and policies that a company itself creates to eliminate discrimination in the workplace can cause diversity in the workforce. The policies create a workplace atmosphere that is more open to minorities and older workers, which can cause a diverse workforce to develop.

When organizations work to meet those expectations, employees are more satisfied. A lack of diversity in a job can unintentionally create a hostile environment and contribute to higher turnover. When employees feel like they don’t fit in, they’re not likely to stick around.

Research has shown diversity alone is harmful for individuals and organisations. It has been linked to lower revenue, slower decision making, increased conflict, absenteeism and missed opportunities.

3. Creativity levels will increase. The more diverse a team is, the more skills, backgrounds and experiences your organization can draw from when needing to problem-solve or innovate. In bringing together different and diverse minds, various perspectives can combine in novel ways.

It means understanding that each individual is unique, and recognizing our individual differences. These can be along the dimensions of race, ethnicity, gender, sexual orientation, socio-economic status, age, physical abilities, religious beliefs, political beliefs, or other ideologies.

One thing is unique about diversity is that it teaches us to live and adjust ourselves in broad society. Our Constitution believes in respect to all human beings in a similar way. Diversity makes us tolerant and just. We know how to behave with other people belonging to different caste, creed or culture.

Here are just some of the reasons that small business employers should be actively building a diverse workforce.

• Feed the growing workforce.
• Greater employee retention.
• Improved productivity.
• Wider talent pool to pick from.
• Great innovation and creativity.
• Increased boardroom leverage.
• Better understanding of your customers.