The Value-Addition of Diversity and Inclusivity

A diverse workplace is an important asset since it acknowledges the individual strengths of each employee and thepotential they bring. Valuing the differences of others is what ultimately brings us all together and can be the secret to a successful, thriving workplace and a fair work culture.

Diversity brings varied perspectives to a work environment. Wide-ranging perspectives from employee groups who come from diverse backgrounds can reduce risks by 30 per cent while improving innovation by 20 per cent. The fact is that if you want to build teams or organizations capable of innovating, you need diversity. Diversity enhancescreativity. It encourages the search for novel information and perspectives, leading to better decision making and problem solving. Diversity can improve the bottom line of companies and lead to unfettered discoveries and breakthrough innovations. Even simply being exposed to diversity can change the way you think. This is not just wishful thinking: it is the conclusion we are able to draw from decades of research by organizational scientists, psychologists, sociologists, economists, and demographers.

A Diverse Workforce Improves Customer Experience

Diversity of all kinds and the incorporation of diverse best practises provides the framework for any firm, their goods and services, and their target market. One cannot focus on customers if one doesn’t understand how they think. Having varied perspectives allows companies to understand and design better customer experience, which leads to better customer satisfaction and better customer services. 

A diverse and inclusive workforce can improve customer services. As a matter of fact, a diverse workforce will often mean diverse expertise, talent, experience, and capabilities in the employees If management properly understands the complexities and intricacies of efficiently managing diversity, they will be able to place the right individual in the right position, minimising weaknesses while maximising employee strengths. As a result, a varied workforce enables a business to select the best applicant for a specific function. For example, someone with a positive attitude and the ability to connect with consumers is ideal for the customer service department.

• Gartner predicted that through 2022, 75 per cent of organizations that boast of a diverse and inclusive culture among frontline decision-makers will exceed their financial targets.
• In 2019, IBM announced its effort to embrace neurodiversity by effectively hiring high-functioning individuals with autism spectrum disorder (ASD). The company stated that “Neurodiverse people approach the problemsdifferently and have to think harder to get around what the rest of us accept”.

Brand and Reputation Enhancement

Brand and reputation enhancement leads to increasing profitability and employment prospects. An organisation that is known for its ethics, fair hiring methods, and appreciation for diverse talent is more likely to attract a larger pool of competent applicants. Other benefits include client loyalty from customers who choose to do business with companies that implement socially responsible business practises.

Diversity and inclusion also lead to exploration of unknowns. A diverse workplace provides more than just exposure to people from various cultures and backgrounds. Employees learn from co-workers who have different work methods and attitudes towards work than they do. This is especially true for employees who operate in multigenerational work environments or in locations that are accessible to those with disabilities.

The Elements of a Good Diversity & Inclusivity Strategy

A good diversity and inclusivity strategy for corporates involves several key elements, including:

1. Clear and measurable goals: A good diversity and inclusivity strategy should have clear and measurable goals that are aligned with the company’s overall mission and values. These goals should be specific and time-bound, and progress towards them should be regularly tracked and reported.
2. Inclusive leadership: Senior leadership should demonstrate a commitment to diversity and inclusivity and model inclusive behaviours. They should also be accountable for the success of the strategy and should empower others throughout the organization to drive change.
3. Employee involvement: Employees should be involved in the development and implementation of the strategy. This can be done through surveys, focus groups, or other forms of feedback to ensure that the strategy is relevant and responsive to the needs of employees.
4. Recruitment and retention: A good diversity and inclusivity strategy should focus on recruiting and retaining a diverse workforce. This can be done by implementing policies and practices that promote diversity and inclusivity, such as bias-free job descriptions and diverse interview panels.
5. Training and development: Training and development programs should be provided to all employees to help them understand and value diversity and inclusivity. This can include workshops, online courses, and other forms of training.
6. Measurement and evaluation: A good diversity and inclusivity strategy should be regularly measured and evaluated to ensure that it is achieving its goals. This can be done through data collection and analysis, employee feedback, and other forms of assessment.
7. Transparency and communication: The strategy should be communicated clearly and transparently to all employees, stakeholders, and customers. Regular updates on progress towards goals should be provided, and feedback should be welcomed and addressed in a timely manner.

Overall, a good diversity and inclusivity strategy should be comprehensive, integrated, and aligned with the company’s values and goals. It should be an ongoing process that is constantly evolving and adapting to changing circumstances.