Getting the Talent Your Company Needs: 10 Benefits of a Diverse Workforce

There has been a lot of talk about diversity lately, and that has gotten the attention of hiring managers and human resource departments everywhere. More than one high-powered executive has taken a look around and stared in dismay at the largely white, overwhelmingly male, workers in the office.

Some industries are doing better at diversifying their workforces than others, but every business owner can do their part to create a more welcoming and inclusive workforce. And while encouraging diversity may seem like a charitable thing to do, there are enormous benefits for the businesses involved.

Here are 10 great reasons to build a better and more diversified workplace starting today.

1. Unique marketing insights

   Every person you hire brings their own life experiences to the company, and their own unique insights. These diverse pools of knowledge can make your marketing more effective, and that will be good for your bottom line.

2. Talented surprises

   When your workforce is diverse, you never know where your next superstar will come from. These pleasant surprises can help you grow your company and compete more effectively.

3. Less risk of a discrimination lawsuit

   When the people in your office or factory all look alike, your risk of a discrimination lawsuit shoots up. Even if you do not intentionally discriminate, you could find yourself on the wrong side of a costly judgment. Diversifying your workforce is good for your company, and for your bottom line.

4. It is the right thing to do

   Do you need a better reason to field a diverse workforce? Hiring across all ages, races and demographic profiles is the right thing to do, for your business and for society as a whole.

5. Stronger interpersonal relationships

   Every workplace is a network, with every member of the team playing their part in building a successful business. Bringing a diversified team of talented individuals together under one roof is a great way to forge stronger, more powerful and more long-lasting relationships.

6. Increased loyalty

   Building a talented team of employees takes time and money, and the last thing you want is to lose those star workers to a competitor. Diversifying your workforce is one of the best ways to engender company loyalty, so your most talented players stay on the team.

7. Lower recruiting costs

   Recruitment costs can take a bite out of your bottom line, but building a diverse workforce could help lower those expenses. By reducing turnover and building company loyalty, workforce diversification efforts can sharply reduce recruiting expenses.

8. An increase in creativity

   It is not enough for workers to do what they are told and follow the company manual. Creativity is a major competitive advantage in the modern workplace, and one of the biggest benefits of employment-placed diversity.

9. Build a better reputation

   In the internet age, your business is only as good as its reputation. Diversifying your workforce is one of the most effective ways to boost the visibility, and the credibility, of your brand.

10. Increased productivity

    A happy workplace is a productive workplace, and diversity contributes to that happiness. When workers see people who look like them, they go the extra mile, and that is good news for your business and your bottom line.

Building a diverse pool of talent is the right thing to do, but hiring more women and people of color is not about altruism. Diversity has real business benefits, from enhanced creativity and unique pools of talent to lower recruiting costs and reduced turnover. Now that you know the benefits, there is no reason not to diversify your workplace.

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