Benefits of Diversity in the Workplace Essay Example | Topics and Well Written Essays - 1250 words

Benefits of Diversity in the Workplace - Essay Example 1. Greater share of the consumer market A diverse workforce is able to seize a larger segment of the consumer market. This is because it enables a company to bring in people from diverse backgrounds and as a result it allows the organization to better understand the various cultures, races or genders that make up the consumer market. Understanding the consumer market allows the organization to directly cater to the preferences of the consumer market, moreover it also lets the organization market their products or services more efficiently. In addition, understanding different languages, cultures and ethics allow an organization to operate on a global basis. 2. Recruiting from a diverse pool of candidates means a more qualified workforce Companies who do not bias their selection of employees will find that they are able to select employees from a bigger pool of candidates. This allows them to select only the best and also selection is strictly based on talent and their abilities inste ad of culture, generation or gender. 3. Fosters a more creative and innovative workforce Diversity promotes a more â€Å"creative and innovative† workplace (Dolly 1). Companies who incorporate a more diverse workplace are able to foster a more diverse range of ideas and viewpoints. As a result, employees are able to contribute more into the pool of ideas that a company uses to perform its business tasks. In a 2011 study by Forbes study, 85 percent out of 321 global companies that generate annual revenues of at least $500 million, agree â€Å"diversity is crucial to fostering innovation in the workplace† (Dolly 1). 4. Increased adaptability Companies who promote diversity within their employee population will find increased adaptability. Having the capability of the diverse workforce means that companies are able to pool in a larger variety of solutions to business-related problems that the company may encounter. Employees are able to bring in ideas or personal talents that come from different walks of life. 5. Increased Customer Relations Customers in an existing organization can come from extremely diverse backgrounds. Employees with akin natural diversity in any organization help significantly increase customer relationship and connection. This is boosted by sharing organization vision with the employees. In return, it allows employees reach out to customers and handle their needs in their desired manner. This makes the customers develop a feeling of assimilation to the organization thus becoming part of the organization (Laura 1). 6. Enhanced Reputation The promotion f diversity, talent and inclusion within a company create a favorable viewpoint from the customer, partners, and media. This attracts talented individual for it is usually viewed as a good place to work. The positive environment creates successful breeding ground thus attracting the brighter and best employees from all spheres of the world. Gender: Organizations who actively promo te gender diversity in the workplace will increase the company’s understanding of preferences for women and children.