Illustration with a blue background and six hands on top of one another. text reads - building a diverse team.

Advantages of Building a Diverse Workforce

As a business owner or manager, it’s your basic task to create a diverse and inclusive workforce to maintain a positive work environment. It’s to ensure that there’s no discrimination within your team or organization and to keep the work harmony among your staff.

Making sure that there’s no discrimination at work is not just a matter of basic human decency. It is also mandated by existing laws that safeguard employees from unfair treatment based on their race, socioeconomic status, gender, age, religion, nationality, and disability.

Additionally, when staff feel valued, are free from profiling and given equal opportunities, your organization will greatly benefit from it as well. You’ll see that they’re more likely to try harder to contribute to your company’s success.

Why your business should have a diverse workforce

The Harvard Business Review states that companies with greater diversity encounter enhanced innovation leading to a 19% surge in revenue. That’s just one of the many good points of a diverse work team. The following are some of the advantages you can gain by having an inclusive workplace:

  1. It improves company reputation

Many clients are not only interested in the products or services you provide. They also want to know if your values align with theirs.

People are more likely to connect with your business if they recognize that you accept people from all backgrounds. This is especially true for those in minority groups. It’s a plus if they see that you have staff who belong in the same group as them.

Encouraging fair treatment in the workplace shows respect for different cultures. It also presents your company positively as an organization that can work in a multicultural society. 

  1. It attracts best talent

The most skilled and knowledgeable professionals are not only from one particular group of people. The perfect fit for your organization can be anyone.

Having a diverse workforce can make your company an attractive option for job seekers, especially Millennials. In a study conducted by Great Place to Work, diversity and inclusion are among the top 5 things Millennials look for in an organization. Millennial job seekers prefer employers that are willing to address the issues of diversity, equity, inclusion, and belonging (DEIB). 

This generation seeks equity, transparency, flexibility, and purpose. If an employer fails to meet these expectations, they’re more likely to leave your organization.

Always remember that an inclusive culture improves your brand and creates a good impression.

  1. It increases productivity and profitability

McKinsey & Co’s study revealed that organizations that feature high levels of gender diversity on their executive teams are 25% more likely to exhibit superior profitability compared to those in the fourth quartile. This percentage has displayed a positive upward trend since 2014.

Firms that purposefully recruit, retain, and nurture diverse employees are 35% likelier to surpass their competitors in performance.

  1. It gives better decision-making, creativity, and problem solving

Social influence in a workplace shows when employees share their opinions and ideas to each other. A diverse workforce encourages the exchange of diverse perspectives, resulting in a more balanced overview and innovative thinking.

According to one study, diverse teams are capable of making better decisions than non-diverse teams in as much as 87%.

Having a diverse team brings a variety of thought and experience. This increases the chance of finding the right people with the right expertise. They can provide unique insights and informed decisions that may not be available in your usual team.

Ways to promote inclusivity and diversity in your organization

  • Develop a diversity and inclusion training program
  • Be open to hearing feedback from your employees
  • Strengthen anti-discriminatory policies
  • Provide equal opportunities
  • Train recruiters to recognize unconscious biases
  • Encourage your staff to refer a diverse range of candidates
  • Offer internship to minority groups

Cloudstaff promotes diversity and equal opportunities

At Cloudstaff, we embrace diversity and reject all types of discrimination, and believe it’s important to establish a welcoming workplace. As a businesses, we are dedicated to equal opportunities and merit-based recruitment.

We strive to create an environment where every employee feels secure, appreciated, and acknowledged. Our confidential reporting systems allow everyone’s opinions can be heard.

Want to learn more about our commitment to our social responsibility? Check out our social responsibility page.