Diversity is critical for any workforce
But what is diversity? It can be defined as the unique differences between people, including race, ethnicity, gender, age, social class and so on. However, in an organizational setting, diversity goes even further, beyond demographics. Diversity also relates to unique skill sets, such as life experiences and education.
Building a diverse workforce requires equity and inclusion. Equity refers to ensuring employees of all backgrounds have access to the same opportunities. And inclusion refers to a work environment where everyone feels welcome, supported and celebrated regardless of differences.
Although Diversity, Equity and Inclusion are important for all organizations, research suggests that diversity has increased in importance, but it’s not yet prioritized. And this means many organizations are missing out on the benefits of having a diverse workforce.
Diversity in and of itself is tremendously valuable. It breaks down barriers, improves our view of the world and opens the doors of opportunity for so many who would otherwise be overlooked. And this is just the start. The benefits of embracing diversity within your workforce are plentiful. Let me just highlight three benefits:
1. Fresh ideas - Innovative ideas are priceless for any organization. And when individuals with different worldviews, experiences, backgrounds and perspectives come together, new ideas are born. How? Different people think, well, differently.
For example, when a problem arises, each individual will have a different approach to solving it based on their unique experiences. Often, this leads to better solutions than you would have without a diverse team. The same goes for generating everything from new product ideas to innovative marketing methods.
2. Increased morale - What do employees want in an employer? Money or remote work may come to mind. However, employees also want to work with a diverse team. A diverse workforce will become even more important as roles, skills and company requirements change. Creating an environment that your present and future employees are proud to work in is critical for morale and motivation. And high morale is needed to increase productivity, protect your culture and best serve your customers.
3. Higher retention levels - You know that it costs more to source and hire new talent than it does to retain the incredible talent you already have. We also know the pain of losing some of our coveted team members. One of the factors driving employees to look elsewhere is a lack of diversity.
In a study completed by Deloitte, 39% of respondents said they would leave their current organization for a more inclusive one. And 80% of respondents said that inclusion is important when selecting an employer.
In other words, we must begin to prioritize diversity, equity and inclusion to ensure happy, healthy and thriving employees who stick around. Diversity is no longer (and should have never been) option.
To promote diversity within your organization, someone needs to be responsible for developing, implementing and monitoring diversity initiatives, such as diversity training and multicultural events. You also need someone to oversee the hiring process to ensure diversity is kept top of mind.
Prioritizing diversity within your organization takes planning. Having a policy in place enables you to set and communicate guidelines for Diversity to help you reach your goals. A Diversity Policy sets forth the appropriate recommendations and expectations for all members of your team, regardless of employment status.
As mentioned above, innovative ideas are priceless for any organization. And when individuals with different worldviews, experiences, backgrounds and perspectives come together, new ideas are born. How? Different people think, well, differently.
If I convinced you that it makes sense for your organization to create a Diversity and Inclusion Policy, contact me so that I can assist you in finding the right assistance for you. Contact me at hjschumacher59@gmail.com