5 advantages of embracing diversity in the workplace

Very few countries have managed to undertake the programme of immigration that Australia has had since the end of the Second World War period without experiencing significant social fragmentation or division.

Here’s a quick picture of what Australian society looks like: 28% of our population was born overseas; another 20% have a parent who was born overseas; about 20% of our population speaks a language other than English at home.  Basically, we can say that almost half the population is either first generation or second generation Australian and this diversity isn’t likely to diminish in any way. The two biggest migration source countries are now India and China. 

While there are a few challenges for organisations in having a diverse workforce, the positives far outweigh the negatives.

Economists from Stanford university and the University of Chicago recently found that 20% of productivity growth can be attributed to a reduction in racial discrimination. Other researches have also shown that companies with high executive and board diversity had returns on equity that were on average 53% higher than those with low diversity levels.

There are some other very positive benefits that can be hard from having a more diverse workforce. Here are five benefits to individuals and employing companies;

1. Increased productivity and creativity: Diversity brings in different talents together, all of them working towards a common goal using different sets of skills. Employees from all sorts of different backgrounds get to learn from their colleagues’ experiences from a different perspective. Thus, they are able to bring fresh ideas to the project by thinking out of their comfort zone.With so many different and diverse minds coming and working together, many more solutions will arise as every individual brings in their personal way of thinking, operating and solving problems and making decisions. Companies that encourage diversity in the workplace inspire all of their employees to perform to their highest ability.
2. Improved employee engagement: There is no better way to learn about other cultures and ethnicity than from colleagues that come from a different background than your own. A diverse workplace allows staff members to ask and learn from fellow employees during lunch break or after work drinks to learn more about each other’s lifestyle and culture.This increases employee engagement and at times increase employee motivation as well, which is great for the company.
   
   
   
3. Improved company reputation: Another benefit of cultural diversity in the workplace is the positive reputation that the company would receive. Companies who recruit and encourage individuals from a wide range of backgrounds generally gain a reputation for being a good employer.Potential clients often feel more valued and thus give more business to these organisations.
   
   
   
4. Wider range of skills: When companies hire a more diverse workforce from all backgrounds, these employees inevitably bring their own specific skills, that can be often just as diverse. Having a wider range of skills and knowledge available to them, these companies often enjoy a more diverse and adaptable range of products and services that they can offer to their respective markets.
   

   
   
   
   
   
5. Improves cultural insights: In a culturally diverse workforce, it is often found that employees then spend more time in their daily lives with people from cultural backgrounds that they are often never exposed to. The end result of this is that employees learn new cultural insights and this in turn, reduces negative emotions such as racism, homophobia, sexism and the like.