6 Key Benefits of Having a Diverse Workforce

Diversity in the workplace may mean different things to different people. But, the impact of diversity in the workplace is always positive. While some may think that a diverse company is one that has employees of all different ages or genders, it goes beyond that. The modern workplace is one that is inclusive in many different ways – which provides great benefits to employees and the organization alike.

What Is a Diverse Workforce?

Put simply, a diverse workforce is one that has employees who are all different. Employees’ differences can be wide-ranging and include ethnicity, age, gender, religion, sexual orientation, socioeconomic status, and personality. An organization with an inclusive workforce often enjoys benefits that nondiverse companies do not.

How a Diverse Workforce Benefits the Organization

The benefits of having a diverse workforce are far-reaching and positively impact the entire company. While this is by no means every advantage, here’s a list of the most common benefits of diversity in the workplace:

1. Increased creativity. One of the most exciting benefits of hiring a diverse workforce is that your company may experience an increase in creativity. Because you have a wide variety of minds working together to solve a problem or help your company achieve its goals, unique solutions will be brought to the table.

2. Increased productivity. Productivity is a key indicator that your business is running smoothly. An inclusive workforce combines employees with all different sets of skills, which translates to improved problem solving and new, more efficient processes. In addition, employees will learn from each other, which may challenge them to innovate and find ways to improve their own productivity, too.

3. Improved employee engagement. You’ve probably heard it before, but engaged employees are crucial to the success of your company. One unique way to boost engagement is to leverage workplace diversity. Consider holding virtual or in-person workplace lunches or networking events to encourage employees to get to know one another. Not only will this help improve camaraderie among the team, but it will also make team members feel like they belong, which goes a long way in boosting employee engagement.

4. Decreased employee turnover. When employees see that you value diversity in the workplace, they’re more likely to be engaged, which, in turn, leads to happier employees who want to stay with your company. When employees feel loyal to their company and like they belong, they’re more likely to remain there for years. Decreased turnover rates can also improve recruiting efforts and help you get the brightest talent available through your doors.

5. Improved company reputation. Diverse companies that hold a reputation for hiring an inclusive workforce are more likely to be regarded positively in their industry (in other words, they have a strong employer brand). Having a positive reputation can help your company receive good press, improved attraction and retention efforts, and may even help you grow your business.

6. Decreased skills gaps. HR professionals have been warning about a skills shortage for years. While some industries have definitely felt the effects of a skills shortage, others have been able to get by. One of the benefits of having a diverse workforce includes having a wide variety of employees with different skills. By nature of having a broader range of skills in your employee base, you’re less likely to feel the effects of a skills shortage.

These six key benefits of having a diverse workforce are just the beginning. Your organization is sure to benefit from a diverse workforce in many more ways than just the ones listed above.

Why You Should Prioritize Diversity at Your Workplace

The impact of diversity in the workplace cannot be understated. As such, it’s important that your company prioritizes hiring diverse employees and supporting those employees throughout their tenure. If you haven’t already started prioritizing having a diverse workforce, today’s the day to start!

For more tips on how to build a diverse and inclusive workplace, head to our Employer Resource Center.