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Diversity at work: why it is so important for companies

We explain why diversity at work should be adopted as a strategy for growth, evolution and financial return for businesses.

We explain why diversity at work should be adopted as a strategy for growth, evolution and financial return for businesses.

In a job market that is increasingly global and plural, companies only benefit from following this trend.

And it's not just about fashions or pressure from groups and average. It is a fact that companies with greater representation have a better chance of standing out and achieving better results.

Data revealed in a study by the recruitment consultant Michael Page, “8 Executive Trends for 2019”, point out that in companies made up of more inclusive management teams, there is an increase of 19% in revenue. Results increase to 60% when decision-making is done by diverse management teams.

So what does more diversity at work mean?

Opening the doors to diversity and inclusion in an organization is much more than accepting and respecting differences. It’s also about understanding and reaping the benefits of this strategy.

A business diversity exists when teams are made up of people of different ages, ethnicities, sexual orientations, genders, social positions, intellectual and physical abilities, disabilities, ideologies, religions and cultures.

All these particularities that make individuals different from each other are valued to promote more equality, creativity and innovation in organizations.

If we think about success stories like Apple, we noticed a history of diversity that proved to be one of the ingredients for its success.

Formed by multidisciplinary teams Since its foundation, with specialists from different areas, including computer scientists, mathematicians, designers, and even philosophers, all coming together to create pioneering and truly revolutionary solutions, the large multinational continues to invest in the expansion and diversity of its staff.

What should not be confused with diversity

Cultural diversity is not just about social responsibility. It is a competitive advantage: Companies that invest in inclusion are more productive and profitable.

That's why, diversity should not be considered as:

  • A marketing strategy or a politically correct strategy;
  • A way to comply with legislation;
  • Kindness or charity;
  • An exclusive perspective on the company's image and reputation.

The importance of diversity in organizations

Bringing together people with different profiles, but equally qualified and capable, allows the sharing of experiences, knowledge and skills. This diversity enriches teams and organizations and contributes to greater harmony and acceptance in the workplace.

If we think about the benefits, values such as diversity, accessibility and empowerment, it is also reflected in the company positioning in the market.

An organization that integrates the LGBT+ community, the black community, the population with physical and cognitive disabilities, refugees, women, indigenous people, and all minority groups under a single banner, is an organization committed to diversity at work.

On the other hand, a company that puts its employees' capabilities first and believes in them can expect a positive impact on its management strategy. employer branding.

But how is all this reflected in concrete results? What are the benefits of applying a diversity policy in companies?

7 benefits of diversity in organizations

1. Greater Creativity

A variety of perspectives, skills and experiences encourages greater originality of ideas. And, of course, this variety comes from a more diverse workplace.

2. Innovation

More creativity almost always generates more innovation. This is especially true in plural teams, capable of thinking outside the box.

3. Better working environment

In a work environment that favors respect for diversity, there are less conflicts. This is because a healthy policy of coexistence with difference generates greater tolerance and cooperation, even when there is a difference of opinion. Which translates into less friction between employees and a better working environment.

4. Positive organizational climate

The organizational climate can greatly benefit from a culture of diversity and a environment of cooperation and respect. It's not just about values, but about better coexistence between workers and a more relaxed work routine.

5. Reduced employee turnover

As the organizational climate becomes more inclusive and supportive, individuals feel that their characteristics and specificities are accepted by everyone and that they can contribute something very valuable to the company.

Therefore, feel happier in the workplace and have more incentives to stay with the organization, which reduces employee turnover rates and costs.

6. Better company image

Another benefit of having a workforce rich in diversity is the image it conveys to the outside world, that of a company more humane, socially responsible and considered attractive to work for.

7. Higher profits

All the benefits mentioned lead to greater profits. Because a more collaborative, friendly and stimulating work environment makes your employees more motivated and productive employees and this is reflected in the results achieved.

Did you like this content? For more tips on how to improve the environment between workers, as well as all the benefits this will bring to the productivity and profitability of your business, read the article 10 Strategies to motivate your team at work.