Benefits of a Diverse & Equitable Workforce

A diverse and equitable workplace is a good business, and has been proven to enhance productivity, reduce turnover, attract talent and increase a company's intellectual capital.

Diversity in a workforce is achieved by having individuals with a wide range of characteristics and experiences. To list a few but not limited to, race, ethnicity, gender, age, religion, skills, abilities and sexual orientation.

In an equitable workplace everyone receives fair treatment creating an advantageous environment where all people have equal access to opportunities

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1. Enhance productivity.

A happy, collaborative workplace is a productive workplace; instilling a positive culture resting on equity and diversity is key, along with clearly communicating the company’s values to all employees. This kind of workplace encourages and enables employees to be more involved, contribute and perform to their full potential.

2. Reduce Turnover

Employees who believe they have a bright future with a company want to stay. Ones who work in a diverse and equity workplace have equal rights and access to personal and professional growth. Employee satisfaction and reduced turnover is promoted by employees who feel safe, secure and align with the company values.  

3. Attract Talent

It’s a natural expectation that talented people want to work in an environment that promotes equity and diversity in a workplace they consider safe to invest their brains, energy and dedication. Talent attracts talent; high achievers want a chance to work with other achievers to further enhance and develop their talent, skills and actively learn from their peers.

4. Increase a Company’s Intellectual Capital

Diversity and equity in a workplace results in a wider range of variety in the experiences and perspectives collectively across the employees, promoting more source materials to draw from during brainstorming and problem solving. Diverse companies are proven successful in creating innovative products and services whilst encouraging acceptance and respectful behaviour leading to minimise discrimination overall.

If you are unsure where to start to analyse whether your workplace is diverse and equitable, I strongly suggest setting aside some invaluable time to complete the Diversity & Equity in the Workplace course which is now available free in the Chorck Marketplace.

Change starts with learning and understanding and requires action to implement. The benefits gained from implementing a diverse and equitable culture in your workplace far out-way the time and commitment required. Could your workplace benefit from enhancing productivity, reducing staff turnover, attracting talent and increasing company intellectual capital?