Diversity in the Workplace

Figure 01:Diversity in Workplace

What is Diversity in Workplace?

To foster diversity in the workplace, the employer needs to hire a wide range of individuals from various backgrounds. Diversity in the workplace is characterized as a feature of an organization's culture that encompasses a range of employee demographics, including gender, age, sexual orientation, religion, language, ability, professional history, socioeconomic background, and educational background (Morgan, et al., 2009).

Diversity is becoming increasingly important in most communities as the world's population becomes more mobile. The countries like New York, Dubai, London and Singapore which are also some of the world’s most successful business centers used to take pride in their high level of diversity. (Eswaran, 2019).

Benefits of a  Diverse Workplace

Better opportunities for creativity and problem-solving

A diverse workforce solves challenges by bringing together a wide range of individuals with various backgrounds, abilities, viewpoints, and ideas. Because teams of individuals from diverse backgrounds may draw on their unique experiences and a larger range of knowledge to spark new, original ideas, diversity improves creativity, innovation, and strategic thinking (Milliken, et al., 2003) .

As an example, in an organization when colleagues can connect to one other more deeply when they share their common experiences or histories, they can discover that their employee connections are stronger and that workplace collaboration is enhanced. 

Smarter Decision Making

Employee groups with diversity draw from a greater range of backgrounds and experiences. This could enable them to make better judgments, which would benefit the company. It has been demonstrated that diverse teams are more creative, intelligent, and socially conscious.

An increase in profits and productivity

Professionals with high aspirations are frequently drawn to inclusive businesses. Increased productivity and an efficient, engaged staff are possible outcomes of this. Diverse teams are not only more productive, but the financial success of the business also shows the benefits of diversity. According to one study, businesses with executive teams that are 15% more gender diverse than average had a 15% higher chance of producing above-average profitability than businesses in the lowest quartile (Hunt, et al., 2018).

Reduced Rates of Employee Turnover

One of the biggest benefits of diversity in the workplace is that inclusive workplaces tend to have happier, more contented workers. Additionally, they will have the urge to be more devoted and to remain longer at organizations that value and acknowledge their distinctive talents (Eswaran, 2019).

Considering all the things, workplace equality can boost self-esteem and motivate workers to reach their greatest potential. Diverse teams are frequently more creative, productive, devoted to the company, and have higher morale.

Importance of Diverse Workplace

Best Practices for Fostering Workplace Diversity

• Be fair and identify potential bias
• Valuing employees equally
• Promoting ways for career advancement
• Educating workforce on diversity and respecting others
• Help in workforce collaboration
• Offer flexibility and respect other beliefs
• Implementing hiring strategies for diversity
• Examine the rules and assumptions that define culture

Conclusion

Encouraging diversity in the workplace benefits companies strategically as well as morally. Organizations may foster an inclusive culture where all individuals feel valued and empowered, unlock innovation, and improve decision-making by accepting varied viewpoints, experiences, and backgrounds. It is imperative that organizations actively foster conditions where each person may flourish and contribute their special talents, in addition to giving diversity in hiring first priority. By working together, we can create workplaces that are more resilient and powerful, reflecting the diverse nature of our global society.

 

References

Eswaran, V., 2019. World Economic Forum. [Online]
Available at: https://www.weforum.org/agenda/2019/04/business-case-for-diversity-in-the-workplace/
[Accessed 01 April 2024].

Hunt, D. V., Yee, L., Prince, S. & Dixon-Fyle, S., 2018. McKinsey & Company. [Online]
Available at: https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/delivering-through-diversity
[Accessed 1 April 2024].

Milliken, Frances J and Bartel, Caroline A and Kurtzberg & Terri R, 2003. Diversity and creativity in work groups. Group creativity: Innovation through collaboration, pp. 32-62.

Morgan, John and V{\'a}rdy & Felix, 2009. Diversity in the Workplace. American Economic Review, 99(1), pp. 472-485.