When it comes to the word diversity, things that spring to your mind must be factors such as age, gender, race, cultural background…. However, there is far more to creating diverse workplace than creating the perfect male to female ratio or recruiting people who fit into different age/ position brackets. In order to gain the myriad advantages which diversity in the workplace offers, it's important to understand its strong points, and how they can help your organization succeed in the modern business landscape.
1. Diversity in the workplace
People are unique, intricate and complex beings that provide various offerings through a combination of their identities and bring different experiences to the table. Thus, it provides your organization with an opportunity to crack the code to a lockbox full of insights and new perspectives.
However, there is an unavoidable fact that despite great strides over the years, the Vietnamese workplace still has a diversity problem. Fewer CEOs are women than men, Millennials will make up 75% of Vietnam’s workforce by 2025 which will require a shift in how our workplace operate in the near future….
So why diversity is so important among a team? Here are a few of the top benefits when your teams are diversified.
2. Benefits of diversity in the workplace
• Increase innovation and creativity: Research which was conducted by Forbes Insight pointed out that "a diverse and inclusive workforce is crucial to encouraging different perspectives and ideas that drive innovation." Individuals from diverse backgrounds, experiences and working styles can offer a broad set of skills and a variety of visible solutions on how to achieve a common goal. Thus, it has a great impact on your organization's ability to capitalize on an innovative concept with so many different and diverse minds, feedback and suggestions coming.
• Expand the talent pool: You are a unique one, imagine that you had to work in a synchronized workplace, how would you feel? You cared for your own tasks, and so do your peers. It’s not a beautiful cycle, but it’s too hostile for you to fit in. Thus, a company embracing diversity will appeal to individuals from all walks of life, expand the top of the hiring funnel. EY is an example, its cultural diversity attracted thousands of candidates each recruiting years.
• Improve employees' performances: Ethnical companies are likely to outperform their peers. A diverse workplace combines people from different ethnicity, backgrounds, and experiences. Your attitude of respecting that diversity is important in encouraging your people to feel confident in their ability, study from their co-workers and achieve their best. As a result, it boosts team morale and increases productivity.
• Improve your company’s reputation: Last but not least, your company can receive a positive reputation when developing cultural diversity in the workplace. A diverse collection of skills and experiences allows a company to provide a wide range of services to customers worldwide because the company could understand their potential clients better. Not to mention, cultural differences and languages can make it possible for a company to expand into global markets and interact with a broader client base.
The workplace has made progress when it comes to diversity, but it’s a long way to go. So let Faro – a professional HR service provider, make it shorter for you!