The global trend is to include people of different races, ethnic groups, genders, ages, religions, sexual orientations, and people with disabilities in business processes. This implies the principle of organizing life in society, allowing participation in all its aspects. The diversity practice owes much of its beginnings to charitable projects that existed primarily on grants. It took time for businesses to see that diversity does not contradict but rather contributes to success, and social justice has its financial advantages.
Statistical data
McKinsey experts calculated the advantages. Their conclusions attracted the attention of the business community. The experts concluded that companies with gender diversity among top managers are 15-21% more likely to demonstrate above-average profits than those with no such practice. And companies that track ethnic and cultural diversity perform 33-36% better.
How does it work?
The effect of job diversity manifests itself in several ways. For example, it improves the reputation of companies, which allows them to attract the best talent. By the way, this is one of the reasons why such a policy began to be implemented primarily in IT companies, where competition for professionals is incredibly high. This approach appeals to millennials who rank corporate responsibility, including diversity, as a prerequisite for business.
Embracing diversity and inclusiveness allows companies to serve their customer base better. Recognizing and respecting the uniqueness of each employee helps reduce conflicts in the workplace, says the ‘employer of records. In addition, such a community is easier to rally around a common goal; it is more motivated and achieves results faster.
How to increase diversity?
The business world has developed many methodologies for introducing diversity into business processes. But often, the meaning is lost behind the details. The main thing that is required from a leader working to implement an inclusive environment is to create an atmosphere of trust in which employees will not be afraid to ask questions and share their ideas. It is essential that each team member feel their uniqueness and relevance. Management needs to study the characteristics of each employee carefully.
- Do your research
Is your team diverse enough at the moment? To understand this, analyze the employees. Gather demographic data about employees compare it with available information about companies where diversity is already paying off. Adapt good practices from other companies if they seem applicable to you.
- Set a goal!
Set clear goals that match your business ambitions. Explore how diversity tools have impacted the experience of companies in your industry. Consider examples from international practice. Let’s say that there are practically no women in leadership positions in your company. You are lagging behind your competitors on this indicator, and this does not correspond to your corporate ideals. Set a goal to increase the representativeness of women and set specific deadlines – this will turn the concept into a strategy, increasing the level of responsibility of employees involved in the selection.
- Find like-minded employees
Implementing a diversity approach in an organization is a significant change in corporate culture. You will need a critical mass of like-minded people, at least half of the team, who will become change ambassadors and help the organization transform.
- Follow the plan no matter what
For each diversity initiative, a step-by-step plan needs to be developed. This will make it easier for employees to understand the changes and participate in their implementation. As you create the structure of diversity within the company, your goals and objectives will also evolve. Don’t dwell on just one difference. Study the issue in-depth, and you will discover the actual values of the diversity approach.
- Analyze results
Adjust the plan as you go. Diversity is a process that needs to be constantly refined and improved. Study the employees’ reactions observe the impact of the measures taken on business results. Change the focus of the program when necessary. The success of diversity initiatives needs to be communicated to every employee: use visual infographics and hold meetings on the topic. So everyone will understand the role of diversity. The involvement of the entire team in new initiatives is a necessary condition.
- Integrate the employer of records in your hiring strategy
One of the core competencies of an employer of records is to create a culture of communication and interaction among all employees. They will help you reduce misunderstandings, increase team satisfaction, and build trust and a foundation for collaboration. Such a team will be able to interact effectively better cope with emerging difficulties. This method is an easily accessible and convenient means of increasing employees’ loyalty during diversity.
Final Words
It is important to understand that implementing the diversity approach will not bring an immediate effect. Nevertheless, in the end, it is a comfortable environment and equal opportunities for everyone that can help a company become more efficient and reach new heights.