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5 Reasons Why Diversity Is Important in a Workplace

What is diversity?

Diversity in a workplace, or any other community for that matter, is where a variety different people or groups from different backgrounds are well represented. This can include race, ethnicity, age, ability, language, nationality, socio-economic status, gender, religion, or sexual orientation.

Diversity in the workplace

Diversity in the workplace has become an important issue for businesses, brand and organisations. Not only because it gives different people from different backgrounds an equal chance, but because it brings with it some very real benefits. In fact, a McKinsey & Co study in 2018 called “Delivering through diversity” found that businesses with a greater proportion of women and racial and ethnic diversity, are 33-35% more likely to outperform their industry averages financially.

In other words, businesses, brands and workplaces that focus on diversity do better than businesses that don’t. At Dive In Media, we view diversity as having good representation or a higher proportion of women, LGBTQIA+ and First Nations people in leadership roles, and as visible and engaged members of workplace teams.

Five benefits of diversity in the workplace

  1. A wider and richer variety of perspectives because of different backgrounds, ideas and experiences.
  2. Enhanced creativity and problem-solving capabilities that flow from different perspectives.
  3. Smarter and faster decisions, and potentially more/better innovation.
  4. Greater productivity where different people feel seen and empowered to bring ideas and solutions, resulting in better staff engagement and ultimately better performance.
  5. Improved reputation, as well as a wider audience (more people attracted to visible diversity) and hence the potential for a greater level of marketshare in an industry.

Ultimately, workplace diversity and inclusion allow businesses to build teams that bring different viewpoints and talents to the mix, increasing innovation and driving higher revenues. But diversity is often only as good as its implementation and promotion (or ongoing communication).

At Dive In Media we advise businesses, brands and organisations to keep focusing on their communications around their diversity and inclusion, and to keep communicating the benefits to all stakeholders involved. We can help by creating key messages and uncovering success stories.

Diversity in a workplace can have huge and lasting benefits. Need help to set up, revive or promote diversity in your workplace? Contact us to learn about ways we can assist you, for example with our unique DIVE IN Diversity & Inclusion Program.