Companies that prioritize creating a diverse and inclusive workplace can create a work environment that’s more accepting and productive. Additionally, employees in these work environments often feel more motivated to reach company goals, stay committed to the company, and avoid looking for other jobs.
This blog post will cover six core benefits of prioritizing inclusivity and diversity in the workplace.
Bigger talent pool
Companies with a diverse and inclusive culture often have lower employee turnover rates and higher employee retention rates than others.
Additionally, job seekers often stay with companies that invest in diversity and inclusivity practices, programs, and resources. When your employees feel included and valued, they also perform better and work harder towards company goals.
In fact, researchers found that 67% of job seekers considered a diverse workforce one of the crucial factors when applying for jobs. As a result, employees consider diversity and inclusivity to be paramount when searching for a job.
Increased employee engagement and trust
There’s no doubt that inclusive workplaces make your workforce feel more valued, understood, and appreciated. As a result, these employees feel more motivated to perform better and instill trust in the company.
Additionally, employees are often more interested in a company’s culture, team-building activities, and goals when they know their voices and talents matter.
New perspectives and innovation
A diverse workplace encompasses many unique employees from different backgrounds. These diverse employees offer companies innovative ideas, creative solutions, and new insights into business processes.
In Fostering Innovation Through a Diverse Workforce (a study conducted by Forbes researchers), researchers found that diverse employees offer companies unique life experiences and backgrounds and new problem-solving techniques. This way, diverse companies can outpace their competitors.
Additionally, according to John Bersin’s research, inclusive companies are 1.7 times more likely to lead innovation in their respective markets.
Having a diverse group of employees with different opinions and skills can help companies get a blend of perspectives for every decision-making process. This way, companies can make more informed business decisions.
Moreover, companies that prioritize the opinions of their employees during decision-making often make their diverse workforces feel more valued. This can also boost performance and motivate employees to achieve business goals.
As we mentioned above, diverse teams are more motivated and productive. As a result, they are more likely to stay committed to the company, work towards company goals, and work cohesively as a team.
Moreover, Gartner found that inclusive work environments can boost team performance by up to 30%.
Another study conducted by Great Place to Work shows that when employees know that they will be treated fairly at work, they are 9.8 times more likely to look forward to work and 6.3 times more likely to have pride in their work. These factors also lead to increased productivity and reduced downtime.
Stronger business results and profits
When employees feel included, appreciated, and valued, they’re more likely to engage in company processes and strive toward personal and business goals. Additionally, highly engaged employees often go the extra mile for the company. This can also lead to higher profits for the company.
In fact, Harvard Business Review found that diverse companies report 19% higher revenue than businesses that don’t promote diversity and inclusion.
We over bespoke services that allow you to support your commitment toward inclusive workplaces.