The Value of Building a Diverse Workforce

Caroline Gleeson

3 minute read

Have you made assessing and evaluating your diversity process an integral part of your management system?

If you haven't yet, it's time to start! Here are just a few reasons why:

Positive brand reputation

‍Having a diverse workforce is not only important for your employees but for your company’s reputation and it’s not only important from within the company but with your outreach too. Display commitment to a inclusive work environment through your recruiting efforts and you’ll find your company rep will flourish.

An organisation known for its ethics, fair employment practices and appreciation for diverse talent is healthier and will have the attention of a much bigger talent pool. Additional rewards include faithfulness from customers who choose to do business only with companies whose business practices are socially responsible. ‍

Diverse teams perform better‍

It’s true, diverse teams perform better. It’s proven that companies with a diverse workforce are more efficient when it comes to problem solving due to having multiple viewpoints.

Employees from diverse backgrounds bring individual talents and experiences in suggesting ideas that are flexible in adapting to fluctuating markets and customer demands.

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Increased creativity

If you have fostered an open environment for your employees, you’ll find they’ll be comfortable in sharing diverse ideas among each other, leading to a larger pool of ideas and experiences. Your company can pull business ideas and strategies from this pool, ultimately making a positive impact on your bottom line.

US public companies with a diverse executive board have a 95% higher return on equity than those with non-diverse boards, according to a McKinsey study.

Hiring and retaining talent will be easier

A recent study carried out by Women Ahead has found that there is a direct relationship among employee retention and supporting employee networks for specific demographic groups such as ethnicity or gender.

Women Ahead founder and CEO Liz Dimmock, said:

“Networks aren’t just a nice thing to talk about. They’re a really key business enabler that leads to bottom line performance, productivity and innovation.”

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To give your HR team time to keep up with this and all the latest recruiting trends, we can make your hiring process faster, easier and stress-free. With the help of AI technology, Occupop can greatly reduce your recruitment admin, time and costs, while streamlining the entire process. We’ll post your job descriptions across 20+ recruitment channels, score and filter your CVs and give your hiring team the tools to keep up with this rapidly-changing industry.

Summary Points

These are the top reasons to build a diverse workforce:

Positive Brand Reputation: An organisation known for its ethics, fair employment practices and appreciation for diverse talent is healthier and will have the attention of a much bigger talent pool. Additional rewards include faithfulness from customers who choose to do business only with companies whose business practices are socially responsible. ‍
Diverse Teams Perform Better: Employees from diverse backgrounds bring individual talents and experiences in suggesting ideas that are flexible in adapting to fluctuating markets and customer demands.
Increased Creativity: If you have fostered an open environment for your employees, you’ll find they’ll be comfortable in sharing diverse ideas among each other, leading to a larger pool of ideas and experiences.
Hiring and Retaining Talent Will Be Easier: A recent study carried out by Women Ahead has found that there is a direct relationship among employee retention and supporting employee networks for specific demographic groups such as ethnicity or gender.