Corporate diversity may not seem like an important issue at the workplace – until things go wrong. Take Uber for example, after numerous female employees claimed that they were being harassed on the basis of gender and HR was ignoring their complaints, many top executives had to step down, including Jeff Jones, Uber’s president.
This is not an isolated case. A lack of focus on diversity has been known to cause problems in many other companies, especially in the technology industry. Even though some tech organizations are continuously trying to improve diversity, instances of discriminatory behavior are occurring far too frequently.
A recent survey by Glassdoor reveals that nearly 60% of US employees have personally experienced or witnessed discrimination in the workplace, whether based on race, gender, age, or even sexual preference.
Why Corporate Diversity Matters
Disregarding diversity can impact the workplace environment as well as the company’s profit!
According to McKinsey & Company, gender diversity in management positions increases the profitability of the company by as much as 21%.
Also, truly innovative and amazing products that delight the customers and users just cannot be created without taking into account the diverse backgrounds, experiences, and perspectives. A highly diverse workplace allows the organizations to reach more diverse customers as well.
It has been proven that having a diverse team results in a better organization.
Here are some of the major benefits of having a diverse workforce:
The language diversity helps with community relations
If your company is planning to expand into global markets, it will greatly benefit from having diverse workers who speak different languages in the workplace.
For example, if an organization has employees fluent in Mandarin and who understand the Chinese culture, they will have an easier time communicating with Chinese representatives. In addition, the company will also experience an improved reputation within the Chinese community.
This is also why many multinational corporations prefer hiring bilingual employees.
Diverse workforces build company’s reputation
In continuing with the above point about reputation, job seekers are also attracted to companies with diverse workers because it is obvious that there is no employment discrimination there. After all, potential workers want to know that employers treat their staff justly regardless of gender, ethnicity, or race.
Such companies are not only able to entice new talent, but also retain existing employees due to high-morale resulting from diversity in the workplace. Companies with diverse workforces are usually known for their attitude of inclusion, openness, and willingness to adapt. But you don’t want to have people on the team that are not goal oriented either; if they don’t want the business to be successful and don’t respect the business while it’s trying to maintain its profit margins, then this may not be someone you want in your work force.
Think of it this way: if all of your employees come from similar cultures or socioeconomic groups, then your overall perspective, creativity, and innovation will be limited. Employees from diverse backgrounds bring diverse outlooks and solutions to the table. And it ultimately helps achieve the company goals in the most creative and efficient way possible.
Having employees of all creeds, abilities, and experiences gives a company a global perspective as well. It offers them a greater chance of expanding to more diverse markets, be it at home or abroad. Corporate diversity gives organizations the chance to take their business to new heights and across borders.