Diversity and Inclusion Are the Keys to Your Business’ Success
Have you ever walked into a room and instantly felt out of place? It’s as if you have attended a party to which you were accidentally invited. It’s clear you’re not welcome and you’re certainly not included in the conversation. Awkwardness surges through your body as you try to find a place to hide or blend in. Maybe you’re the bold type and call attention to the tension making others laugh nervously. You’re not sure how to respond and neither do the others. Or those who believe you’re stepping into their territory make it clear that your presence isn’t wanted. If this were a birthday party, you would leave. You don’t have to waste your time feeling excluded. But if this were your office? It’s a different story.
It’s time to do the hard work of diversifying your workplace and fostering a culture of inclusion and belonging. Your company will benefit immensely from a diverse team that will extend beyond production and revenue but serving new audiences and making your company a desirable place to work. Whether your goals include establishing a global reach, or simply serving your community well, here are five advantages to having a diverse and inclusive workplace.
1. Increase Innovation
When team meetings are filled with people from different backgrounds, skill sets, and worldviews, new ideas will flourish. However, it is crucial to not just fill your conference room with a diverse team but promote inclusivity and open conversation. The Harvard Business Review reports, “people like to fit in, so they are cautious about sticking their necks out. When we have a strong, homogenous culture, we stifle the natural cognitive diversity in groups through the pressure to conform.” When everyone feels comfortable enough to share their ideas and think outside the box, innovation can occur. Your time is too precious to have your employees spending the day trying to conform rather than create. Creativity and innovation keep your company relevant and extend the life of your business.
2. Broaden Your Reach
If you want to be a leader in your industry, serve your community well, and meet your customer’s needs, create diverse products that appeal to a larger audience. The best way to understand what your customer needs or how to engage with a broader marketplace, you’ll need people who understand that particular customer. With a diverse staff, you will be able to connect with new audiences effectively. By fostering a culture of inclusivity, you can learn how to promote your business in a meaningful way to a diverse audience.
3. Increase Productivity
If you feel awkward, out of place, or unwanted at a party, your knee-jerk reaction may be to retreat or blend in. You might not say much at all, let alone anything that would rock the boat. The same is true for employees who feel out of place in the office or believe their voice doesn’t matter. When the office is full of men and women of different races, ages, and backgrounds, it’s difficult for a single person to feel like they don’t belong. When your company culture celebrates diversity and promotes inclusivity, you’ll find increased productivity and efficiency, two building blocks necessary to having a successful business.
4. Reduce Turnover
When you create a work environment that includes unique voices and gives space for those voices to be heard, when employees feel like their presence matters and their ideas are used, you establish a place that people want to work. When your employees enjoy coming to work, or feel a sense of purpose within their work, they are more likely to stay. When a team moves forward and grows together, you can accomplish your goals at a faster rate than when you have to refill a position and train a new employee. According to a Deloitte University study, “83% of millennials are actively engaged when they believe their organization fosters an inclusive culture.” And since millennials currently make up two-fifths of the working population, it’s important to pay attention to your work environment. Diversity and inclusion not only encourage employees to engage but entices them to stay.
5. Higher Revenues
You know that positive company culture is important. But the bottom line is still a driving force for many of your decisions. We’ll let this study from the American Sociological Association speak for itself: “companies reporting the highest levels of racial diversity brought in nearly 15 times more sales revenue on average than those with the lowest levels of racial diversity.” Greater diversity and inclusive environments breed innovation, higher levels of productivity and efficiency, boost employee morale, and retention. With this kind of success in the day-to-day routines, it’s clear that you’ll see success in profit margins as well.
At Trinity Training and Development, we want your company to be successful, and we believe that to do so, you must diversify your team and establish an inclusive environment where every voice matters. Professor and anti-racist researcher George Dei notes that “inclusion is not bringing people into what already exists; it is making a new space, a better space for everyone.” If you’re ready to create a better work environment, contact Trinity Training and Development today. We’ll train your team to improve communication, reduce conflict, and establish a culture of inclusivity so your business can experience success in every area.