Workplace diversity is a term which refers to a company which employs people of varying characteristics, such as gender, age, religion, race, ethnicity, cultural background, sexuals orientation, religion, languages, education, abilities, etc.
Workplace diversity has many direct and tangible benefits. Employee diversity and inclusion programs are not just nice-to-have HR initiatives — these programs have a direct impact on the company’s bottom line.
Companies with more diverse workplace are not just seen as a more desirable employer, they also outperform competitors and achieve greater profits. Here are the top 5 workplace diversity statistics and their benefits in the workplace:
Companies with more diverse workplace make more money.
Companies that have more diverse management teams have 19% higher revenue.
Source: Boston Consulting Group (BCG)
Workplace diversity leads to innovation.
Inclusive companies are 1.7 times more likely to be innovation leaders in their market.
Source: Josh Bersin research
Workplace diversity leads to better decision making.
Diverse teams made a business decision, they outperformed individual decision-makers up to 87% of the time when it comes to making business decisions.
Workplace diversity generates higher job acceptance rate.
67% of job seekers said a diverse workforce is important when considering job offers.
Companies with diverse workforce outperform its competitors.
Racially and ethnically diverse companies outperform industry norms by 35%
How can you improve your company’s workplace diversity?
Hopefully, these statistics have prompted you to learn how to build and manage workplace diversity in an effective way in your company too!