Being inclusive and business benefits

Do you encourage diversity within your organisation?

Here are four of the most important benefits of harnessing workplace diversity are proven and tangible.

Innovation

Perhaps the most prominent is innovation. Innovation is a very important differentiator for many organisations – it allows them to come up with new services, products or improved ways of delivering those services or products.

Improved attraction and retention

You’re more likely to discover the most suitable skills and experience if you open yourself to a diverse pool of candidates. Employers that limit diversity parameters effectively reduce the number of candidates they can consider.

Improved financial performance

Diversity improves productivity and makes bottom-line business sense. Hiring a demographically diverse workforce can improve a company’s financial performance. Making gender diversity, and diversity in the wider sense, a business priority can lead to financial benefits and help a company realise its full potential.

Meritocratic culture

Ideally in a workplace that operates as a true meritocracy, the best people are promoted and the best ideas are implemented. Those people who want to participate, have put in the work, gained results and proven themselves are respected, rewarded and promoted. No other factors come into the promotion decision making.