At this time in modern history, the financial benefits of diversity and inclusion have been well researched and documented. The Harvard Business Review reports that greater diversity leads to higher return on equity and higher net income growth, while Economic Geography finds that increased diversity leads to greater product innovation. But what about the human impact of enhanced diversity and inclusion in the workplace?
Here are just three examples of the power of diversity and inclusion in the workplace as it relates to the human impacts:
According to Chitra Reddy, author of Why is Respect Important in the Workplace, respect in the workplace leads to reduced stress and lower incidents of conflicts and problems. This is particularly relevant considering the American Psychological Association reported in 2017 that 58% of Americans say work is a considerable source of stress, and that occupational stress costs employers $300 billion through absenteeism, illness and lost productivity.
In her article, The Importance of Respect in the Workplace, Katie Martinelli writes that as mutual understanding increases, employee satisfaction increases, company culture becomes more positive, and employee turnover decreases. According to Martinelli, “As mutual understanding and respect increase, the exchange of ideas will rise which will increase company knowledge and innovation.”
Employees with diverse backgrounds can learn from each other’s perspectives, and offer more creative solutions to specific problems. Lauren Clarke, author of 8 Amazing Benefits of Cultural Diversity in the Workplace, writes that employees in diverse companies have the opportunity to “learn from their colleagues’ experiences from a different perspective. Thus, they are able to bring fresh ideas to the project by thinking out of their comfort zone.”
Workplace diversity is about recognizing, valuing and respecting differences. To be successful in the modern world we must be able to learn from each other, we must be inclusive, we must seek understanding. When we learn to embrace and harness diversity, our performance is enhanced and we produce better outcomes than we could in a homogenous group.
Rhythm and music are the perfect metaphor for driving the power of diversity in your company. Contact us to discuss how we can create a diversity and inclusion training program for your team.