The society we live in and the organization we work are a rich tapestry of diversity. Despite this, there are a lot of organizations which don’t incorporate inclusive strategies in their recruitment process. They don’t try to create a culture which is positive, safe, and inclusive for everyone. Usually, organizations feel that diversity and inclusion are not of great importance and won’t bring much impact to the organization. But that is not correct. Diversity and inclusion have proved to be a great strategy to be incorporated into the organization because:
Companies which are ethnically diverse are 35% more likely to outperform other organizations which are not ethnically diverse. Organizations should make an effort to include employees who are from different ethnicities.
Companies which are diverse in gender are 15% more likely to outperform than the organizations which are homogeneous in nature. If any team has an equal number of males and females is more likely to perform better and be more creative than the team which has one dominant gender.
Organizations which are diverse in gender, ethnicity, race, culture, etc are more likely to bring more revenue. Diverse organizations can bring about 15 times more revenue than the companies which are homogenous or lack diversity in any aspect.
People are motivated and willing to work in the organizations which are diverse and have policies which are inclusive in nature. Having a fair recruitment policy, AI based first level screening so that biases can be removed based on background, race, ethnicity, gender, etc.
Diversity and inclusion drive more creativity and innovation than other organizations which are not diverse and inclusive. It is because when people from different skill set, backgrounds work together in one workplace, it leads to better effective problem-solving. According to a 2011 Forbes study, 85% of 321 global enterprises agreed that diversity is crucial to creativity and innovation inn workplace.
67% of job seekers consider diversity at workplace as important factor while applying for jobs. More than 50% of current employees want their workplaces to be diverse or to do more in diversity.
Job seekers want to work in inclusive workspaces because they have faced some sort of discrimination in their previous workplaces and they don’t want to face the same thing again. A lot of employees believe that their organizations are not creating safe and welcoming environment for them. This affects the mental health of the employees; organizations also face turnover.
In a lot of workspaces, majority of women feel excluded from major decision making and do not feel expressing their opinions. They think that their opinions are not valued enough, and even senior managers don’t want any inputs from female employees.
According to Harvard Business Review, 78% of employees say that there is no diversity at the leadership position at their workplace. A lack of diversity in leadership reduces innovation, prohibits members from minority group to be a part of major decision making and they might fail to take good decisions.