Fostering Diversity In The Workplace

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Whether you are the CEO of a company or a typical employee, you can play a significant role in encouraging diversity in the workplace. As seen before, hiring employees from different racial backgrounds and making them feel comfortable at work has several benefits. According to a new research by Hunt et al. (2015), companies with more racially diverse workforce perform better financially. In their research, they found that companies that embrace diversity will have greater financial gains than the industry average. Out of 366 public companies examined, those “in the top quartile for racial and ethnic diversity are 30% more likely to have financial returns above their respective national industry medians” (Hunt et al., 2015, para. 4). The research…show more content…
A company can never become more racially diverse if only two or three employees commit to it. Employees should collectively work to build a constructive and more inclusive workplace. Companies could also provide ongoing diversity training sessions which everyone, from the top down, should attend in order to become more familiar with the notion of cultural and racial diversity. These training opportunities will help employees and managers understand the importance of establishing an inclusive and diverse workplace, and as a result, they will be more likely to value the different groups of colleagues in a more genuine way and gain a deeper sense of cultural awareness. Fostering diversity in the workplace is about making sure that all viewpoints, backgrounds, races, experiences are valued in the organization. When employees feel more valued within a company, they are more willing to work and make significant contributions to the organization. Consequently, employees will become more productive and creative. For this reason, encouraging diversity in the workplace is believed to drive up…show more content…
Companies are beginning to harness the power of diversity in order to benefit their employees and their business itself as well. As businesses and communities are becoming increasingly globalized, companies are starting to operate within a diverse marketplace. Establishing diversity in the workforce indeed brings about innumerable benefits. Promoting diversity in your company also implies having a broader collection of skills such as different languages and different approaches to the same problem as well as varied experiences from each diverse employee. For this particular reason, companies that truly engage in diversity will enjoy a competitive advantage over the other companies in the same industry. It is indeed argued that “diversity is probably a competitive differentiator that shifts market share toward more diverse companies over time” (Hunt et al., 2015, para. 1). When your workplace is home to employees all with different backgrounds, experiences, diverse races and so forth, your company will be more attractive to people and will be able to market to all groups of consumers. Research shows that companies with a more racially diverse workforce will perform better than the other competitors in the industry. The bottom line is that diverse companies will have
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