In this era of technology and globalization, companies are focusing on having a diverse workforce. Customers, investors, and future and current employees are demanding it. According toGlassdoor, 69% of executives rate diversity and inclusion as an important issue. But what is diversity and why is it important in the tech industry?
What is workplace diversity?
A diverse workplace is an environment that provides equal opportunities for all workers regardless of gender, color, age, ethnicity, physical ability, sexual orientation, religious beliefs, etc. Diversity and inclusion in the workplace are an important asset since it acknowledges the individual strengths of each employee and the potential 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. The beauty of diversity is there is no perfect formula. Every team will be unique.
Why is workplace diversity essential?
1. Diversity increases revenue
A 2017 Boston Consulting Group (BCG)study identified diversity as a key driver of innovation, finding that diverse teams produce 19% more revenue. Results showed that these companies develop more relevant products because they are more in tune with the customer’s changing needs. This finding is huge for tech companies, start-ups, and industry where innovation is the key to growth.
2. Diversity improves collaborative work
Diversity in the workplace involves finding ways to help people from different backgrounds be productive as a team. Teams with a high level of diversity have an increased ability to handle conflict productively and are better prepared to deal with differences that emerge.
3. Diversity encourages a 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. Fostering an inclusive culture that values the contribution of a workforce made of diverse individuals withtransferable skillsetsis essential for company growth and advancement. Having a wider range of skills and knowledge available to them, these companies often offer a more adaptable range of products and services to their clients.
When you employ a diverse team, your workforce reflects in your community and industry. A reputation of inclusion can go a long way toward building favor. A reputation of including can help your talent acquisition and retention efforts. Companies that have a diverse workplace are often perceived as better employers. Potential clients also see in value in an inclusive organization. A diverse collection of skills and experiences allows a company to provide service to customers on a global basis because the company can relate and understand their clients better.
Diversity starts with you.
There’s a common misconception that diversity is an HR issue. Majority of individuals think of HR when they hear the world diversity. However, the reality is that diversity isn’t just an organizational issue created by the HR department. It starts with you, as an individual. Exposing yourself to diversity broadens your perception and enhances your creativity and troubleshooting capabilities.