Diversity is very important in the workforce. Diversity not only in the academic background but diversity related to gender, cultural and geographical background, etc, can have a very positive impact on the organization.

In the current Covid19 situation, with increasing work from home, the location of an employee has become less significant. It is the right time to introduce diversity in the workforce, we can interview candidates from different locations virtually and they can work from their respective locations. Thus introducing cultural, geographical, and gender diversity in the workforce.

Diversity and inclusion start with introducing more women in the workforce, hiring candidates from different cultures & geographies, retired defense veterans, etc in the workforce. Why introduce diversity?  In today’s article, I’ve summarized some key benefits of introducing diversity in your workforce.

According to a Mckinsey report businesses run by culturally diverse leadership are more likely to introduce more new products than a homogeneous leadership.

  1. Availability of larger talent pool: A large talent pool of qualified candidates becomes available, once the organization plans to hire a workforce with diversity. This can reduce the duration of hiring and improve the quality of hire.
  2. Enhance your employer brand and retention: Having an inclusive workforce is a great tool to attract and retain diverse talent. It demonstrates strong company values and thus enhancing the employer brand.
  3. Foster a culture of Innovation: Workforce coming from diverse backgrounds also brings along with them diverse perspectives. Research says diverse teams are more innovative. According to a Mckinsey report businesses run by culturally diverse leadership are more likely to introduce more new products than a homogeneous leadership.
  4. Increase the client base:  Having a diverse workforce increases the capability of the organization to understand the needs of clients from different cultures, geographies, markets, etc. Having an inclusive workforce creates an overall good impression of the brand. Thus leading to an increase in business opportunities.
  5. Increase in overall profitability: It is observed that companies having a diverse workforce tend to be more profitable compared to companies without one. However, if you are a beginner for diversity & inclusion, start introducing it in gradual small steps in order to make it sustainable long term.

 

To survive and thrive in this crisis situation, companies need diverse clients, diverse products, functional society, and a diverse & inclusive workforce. Hope your found today’s article useful.
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