Why is it important that companies these days are stressing on elements like diversity and inclusion? Research by Deloitte cited that diversity and inclusion declared to be ‘important’ or ‘very important’ for the ongoing business market. Diversity without inclusion can lead to a bad business outcome, hence diversity and inclusion play a major role in businesses.
We know that workforce diversity is a critical factor for most organizations. The major challenge that most companies face today is to ensure that diverse talent is recruited and retained. Diversity and inclusion in organizations have a great impact on workforce management and progression. If we defined diversity, it is the range of human differences, not limited to race and ethnicity or gender, sexual orientation, social class, physical abilities, and ethical value system etc. And talking of inclusion, it is the process of getting involved in organizations or another workforce where the dignity, inherent worth, and capabilities of the individuals are being recognized and valued. Inclusion promotes the sense of ones belonging to a certain place, irrespective of different values, beliefs, and the background the member comes from.
Dealing with workforce diversity requires a corporate leader to integrate collective differences and similarities that can be implemented successfully in the organization. The objective of the infographic is to communicate the objective and goals that organizations and employees acquire from diversity and inclusion.
Meet financial targets – 2x
High performance -3x
Staying agile and motivated – 6x
Achieving effective business outcomes – 8x
Feeling empowered – 4.6x
Feel the pride working for the organization – 3.8x
Workforce diversity acts as a tool for organizations looking to have a positive influence on businesses and retaining an employee in an organization. Having effective management in diversity requires a change in the organization, in short, managing diversity is critical for the success of the organization.
In recent times, there has been a lot of changes that have taken place in the job market. Due to digitization and privatization, the work scenario has also changed drastically. Those days are long gone when people of the same age, qualification, and experience come and work together in the same organization. This is where diversity and inclusion plays a big role, impacting the success of the organizations. Now even the role of corporate leaders is changing, 78% of leaders believed that diversity and inclusion are a competitive advantage.
To retain talent and workforce management these are the four levers that will drive diversity and inclusion:
Clear career paths
Networking and visibility
Looking to gather more information on diversity and inclusion?
Here’s what you need to read today! Workforce diversity and Inclusion whitepaper.