Workplace Diversity: The Benefits.

Workplace diversity and inclusion is a crucial element toward business productivity in the 21st century, but what exactly are the benefits of a diverse workforce?

Despite it being critical for South African businesses to be legislatively compliant to BBBEE and Employment Equity Regulations which includes it’s own benefits, research has shown that having a diverse workforce has a broad scope of benefits outside the realm of legislative compliance which can contribute to long-term growth.

Increased creative problem-solving and innovation.

Having team members and employees from different backgrounds would mean that a diverse number of solutions would be proposed to a particular problem. This is because different cultures approach problems differently. Companies with higher diversity rates are 1.7 times more likely to lead in markets and be more innovative according to Josh Bersin’s Research.

Better client relations.

With clients being so vastly diverse, having a diverse workforce to match helps clients relate, increasing positive experiences when interacting with customer service. This, in turn, increases the companies reputation among customers, reaping the benefits of better communication methods.

More learning.

When employees are faced with hurdles, whether a larger problem or a simple creative block, learning from others who face the same problems with different creative solutions and tips to the problem could increase productivity among employees and strengthen working relationships and morale. Diversity plays a big role in creative problem solving, leading to a diverse range of opinions and solutions to consider.

Better reputation among job seekers.

A total of 67% of job seekers reported that workplace diversity was very important when considering working for their company in 2018 according to a survey conducted by Glassdoor, an employer that considers diversity and inclusion important is seen as fair among employees, with staff being treated equally regardless of race or gender. These companies are known to be flexible, adaptable and resilient, qualities that contribute to long-term growth.

Better employee retention.

Employees that are valued regardless of their backgrounds, race or gender are generally happier, in return, increasing employee retention and reducing employee turnover. This includes better opportunity windows to employees looking to up-skill and get promoted.

What do you think are the other benefits of diversity in the workplace?

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