2020-06-25

The 5 Key Advantages of Diversity

Drake Editorial Team

It is becomingly increasingly understood that encouraging diversity and promoting inclusion is not only valuable, but a commercially astute business decision. By harnessing a diverse range of talent, companies can build a stronger business and generate increased productivity through a more creative, committed and motivated workforce. 

Job seekers are drawn to companies with diverse workforces because it is evident that the companies do not practice employment discrimination. Potential employees want to know that employers treat their staff fairly regardless of race, ethnicity or gender. Not only do such firms become employers of choice, but they can also retain existing talent because of high employee morale resulting from workforce diversity. 

 

The 5 key advantages of workplace diversity are: 

1. Increased Productivity: By bringing people with different talents together to work towards a common goal, businesses are able to benefit from a more engaged workforce, which can result in greater loyalty, retention and productivity.  
    
2. Increased Creativity and Problem Solving: With so many different and diverse minds coming together,more solutions will arise as every individual brings their own way of thinking, operating, decision making and problem solving.  
    
3. Attract and Retain Top Talent:Feeling included and appreciated increases loyalty and a feeling of belonging.  The ability to retain top talent in today’s ever increasing skills-shortage market can help companies save money and gain a competitive edge. 
    
4. Help to build synergy in teams and enhances communication skills that brings in new attitudes and processes that profit the whole team. By having a workforce with a greater language skills base, companies are able to reach further in to an increasingly international market. 
    
5. Increase market share and create a satisfied diverse customer base by relating to people from different backgrounds.  Businesses can build brand reputation as they are seen as being in touch with, and committed to, the communities in which they operate.  

 

By implementing good equality and diversity practices, employers ensure they can access as wide a talent pool as possible to help them find the best talent to help drive their businesses forward.  

 

The best starting point for any organisation is to develop a good equality and diversity policy, backed up by a concrete plan of action.  Our Drake HR Solutions team are able to provide excellent advice for businesses wanting to drive their businesses forward with the best talent available.