Diversity describes differences in gender, race, nationality, religion, ability, sexual orientation, socioeconomic background, and other characteristics in a company’s workforce. Equity provides each employee with the unique resources they need to access opportunities within a company. Inclusion is providing accommodations for employees who historically have been excluded because of race, gender, sexuality, or ability.
Recent data from a CNBC and SurveyMonkey survey shows that 82% of employees prioritize diversity, equity, and inclusion (DEI) when deciding where to work. This shows the importance of promoting DEI to increase employee attraction and retention.
Including DEI in your company culture provides other advantages as well. The following are some of the main benefits.
Discover How Your Diversity, Equity and Inclusion Efforts Can Benefit Your Minnesota Company
Better Innovation
Diversity in your workforce leads to greater innovation. Employees with different backgrounds and experiences can share, develop, and implement ideas for new or improved products or services to benefit your customers further. Providing additional value helps your company stay competitive.
Stronger Team Cohesion
Inclusion promotes an understanding of employees’ differences. This encourages showing empathy and support for employees’ obstacles and struggles.
Encouraging positive employee interactions promotes strong bonds among colleagues and coworkers. This increases collaboration and provides a sense of togetherness.
Elevated Productivity
Inclusion encourages employees to be their authentic selves at work. It welcomes and celebrates the differences among your workforce.
Promoting inclusion at work helps employees feel safe, respected, and connected. This builds a strong feeling of community. Increased cohesion leads to greater collaboration and productivity.
Higher Employee Retention
Diversity, equity, and inclusion encourage employees to remain with your company long-term. Employees who feel valued and respected remain engaged and productive. They enjoy collaborating to achieve company goals. This increases job satisfaction, employee morale, and retention.
Increased Bottom Line
Diversity helps job seekers and consumers see themselves represented in your workforce. This encourages job seekers to apply for your openings and consumers to purchase your products or services.
As a result, your candidate pools and customer base increase. Hiring the best talent and adding to your customer base elevate your bottom line.
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