It is no longer debatable when it comes to companies creating diversity and inclusion in the workplace. Studies and statistics have shown that companies showing high-diversity cultures enjoy high team performance and higher cash flows.
Yet, one of the most difficult challenges faced by companies is to implement diversity and inclusion in the workplace. Creating a sense of belonging environment in the workplace is perhaps the toughest task for companies to do. But, they are getting there for the clear benefits provided by establishing diversity and inclusion in the workplace.
What are Inclusion and Diversity?
Gender identity differences, political beliefs, religion, race, class, sexual orientation, and culture are referred to as diversity. Diversity in the workplace means that new backgrounds and perspectives are brought to the table by the diversity of the staff.
Being valued, treated fairly, involved, and respected regardless of diversity is the meaning of inclusion. Inclusion in the workplace means that the recognition of special talents empowers all workers to feel connected and a sense of belonging in an inclusive culture.
Importance of including diversity and inclusion in the workplace
The practice of diversity and inclusion in the workplace should go hand in hand. A toxic workplace culture happens with diversity without inclusion. On the other hand, an uncreative and stagnant workplace culture happens with inclusion without diversity.
Unfortunately, many companies and organisations focus on diversity and disregard inclusion. A workplace that does not make a concerted effort in including both diversity and inclusion processes will make their workers feel unsupported and out of place.
Advantages of Diversity and Inclusion in the Workplace
Feeling a sense of belonging is fostered among employees in workplaces that have established a diverse and inclusive culture. Workers have been seen to produce a higher quality of work when they feel more connected to the workplace.
Huge rewards in the form of good decision-making, business results, and innovation are gained by companies adopting diversity and inclusion practices in the workplace.
The advantages of implementing diversity and inclusion in the workplace include:
Better work performance
Increased performance and productivity are the direct results of the increased company profits brought on by the implementation of diversity and inclusion in the workplace. It has been consistently seen that new markets are captured as much as 70 percent by diverse companies.
Increased trust and engagement of employees
Employees are more engaged in their work when they feel included. Going the extra mile for companies has been seen with highly engaged employees. Consistent ripple effects in retention, profitability, and team morale are ensured in inclusive workplaces.
Employees also become healthier mentally and physically when they love working for a company. As much as 83 percent of active engagement is seen in workers working for companies supporting diverse and inclusive initiatives.
Fresh ideas brought on by diversity
Hiring a more diverse group of employees provide companies a higher level of acquiring fresh ideas and perspectives. Companies supporting diverse practices in terms of age, industry, gender, migration, and career path become innovative leaders in their chosen industry.
Multiple tools are needed by companies wanting to support diversity and inclusion initiatives. Companies implementing diversity & inclusion in the workplace empower employees to do better work while remaining happy and healthy in the workplace.