FTSE 350 businesses are paying more attention to diversity amongst their senior team candidates than ever before.
The percentage of seats filled by ethnically diverse directors has risen to 22%. When it comes to gender balance, it has been found that 54% of new board seats have been taken by women, showing that companies are moving in the right direction.
But why is workplace diversity becoming such a priority? One of the most obvious benefits is that organisations can gain precious insight from people with varied backgrounds and experiences.
Impact, a world-leading expert in experiential learning, looks at ways in which diversity can enhance a business’s operations and how it can be implemented effectively.
Building a diverse workplace means employing people of different genders, ethnicities, age ranges, sexual orientations, and education levels.
With a squad of workers from all walks of life, you can truly promote team development and ensure that your company is as efficient as it can be.
Here are some of the advantages of embracing a diverse and inclusive workplace.
In a world where creativity is crucial to stand out from competitors and other businesses, having a diverse workforce by your side can act as an important ace up your sleeve.
Dominic Fitch, Head of Creative Change at Impact, said: “People from different backgrounds can offer fresh, innovative perspectives and ideas to help solve day-to-day challenges.
“This is because they see the world in their unique way and may be able to come up with solutions or suggestions that you might struggle to think of yourself.
“Pulling from a wide range of experiences, a diverse team is more likely to make sound, educated decisions. In fact, according to studies, they tend to make smarter choices than non-diverse workforces up to 87% of the time.
“Ultimately, with workers from all sorts of backgrounds, you will have a more socially aware team that can pick up tasks in a creative, efficient fashion.”
Communication and collaboration are some of the most important ingredients in a successful business recipe.
In a company full of people from similar experiences, education, and upbringings, there’s little consideration for opposing opinions and outlooks. This is because colleagues may often be on the same wavelength and – through no fault of their own – fail to explore more original ways to carry out a task.
Instead, being part of a diverse group means sharing different viewpoints, which can encourage people to be more open to alternative solutions and expose them regularly to new ideas.
As well as benefitting the organisation’s efficiency and performance, it can also help foster a better company culture in which team members can thrive.
Putting diversity at the top of your agenda can also improve your reputation in the eyes of the general public. This includes anyone from current employees, potential candidates, clients, customers, and even vendors.
Why? Because if you have created a visibly diverse workforce, more people will relate and feel a stronger bond to your company, as they can see themselves represented in the business, too.
A good reputation can spur a larger clientele, as consumers are more likely to support and deal with organisations that share their same ethos.
In short, as well as allowing you to keep your staff happy and productive, workplace diversity can give you a better chance to secure business and maximise your profits.
As a manager or business owner, it is your responsibility to encourage a diverse workplace culture. But where to start?
Currently, 47% of employers in the UK don’t have an inclusion and diversity strategy in place. If you’re one of them or have plans to nurture your workplace diversity even further, here are some tips to take into consideration: