Diversity in the Workplace

iStock_000060658012_SmallMalcom Forbes once said that diversity is the art of thinking independently together.

He was on to something there.

Our workforce is comprised of talented men and women of all races and from five generations. As (thanks to technology) our world becomes smaller – and our business environment becomes more competitive – organizations that “master the art of diversity” will thrive in the following areas:

Talent acquisition.

  • Diversity helps organizations actively identify and remove barriers to equal opportunities in all aspects of employment and talent management, from recruiting and hiring to promoting, retaining and developing professionals.
  • Gender diversity, in particular, increases a business’ ability to attract and retain talented women – which will become increasingly important as more women continue to join our labor force.
  • In a recent Glassdoor survey, two-thirds of people polled said that diversity was important to them when evaluating companies and job offers.

Innovation.

  • A 2011 Forbes study indicated that workplace diversity/inclusion is a key driver of business innovation and growth – fueling the creation and execution of new products, services and processes.
  • Research cited in Harvard Business Review showed that, in firms with 2-D diversity (i.e., both “inherent diversity” – traits like gender, ethnicity, generation, etc. – and “acquired diversity” – traits employees gained through experience), employees are 45 percent likelier to report that their firm’s market share grew over the previous year and 70 percent likelier to report that their organization captured a new market.

Financial performance.

  • A recent Gallup study of more than 800 business units showed that gender-diverse, engaged business units outperform those that are less diverse and engaged.
  • Gender-diverse retail organizations have 14 percent higher average comparable revenue than less-diverse business units.
  • Gender-diverse hospitality organizations show 19 percent higher average quarterly net profit than less-diverse ones.

The key takeaway? Diversity isn’t just a laudable goal; it’s smart business.

Build a more diverse, competitive team with Corps Team.

With local professional staffing and search offices from coast to coast, Corps Team provides rapid access to a broad range of exceptional professionals. And as a WBENC Certified (woman-owned) business, we can help you achieve your diversity goals. What can we do for your organization?

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