The Importance of Diversity in Corporate Culture
Diversity can relate to a number of factors including age, gender, and ethnicity. When it comes to the work environment it has never been more important to establish a dynamic company culture that includes more than just age and gender differences. Bringing on board individuals from different backgrounds, with varying experiences and who have mixed interests can help increase company productivity and profit. A diverse corporate culture can be the leading factor that sets your business apart from others in your industry.
Why Your Corporate Culture Should be Diverse
1. Increase Innovation.
Multifaceted company cultures result in having unique perspectives and ideas. Putting together a team of individuals who come from an assortment of backgrounds not only allows for better problem solving but gives you a better understanding of markets in other areas of the worlds. This often leads to more innovative ways to produce, market, and execute new products or services. When individuals are too similar they often only have one way of thinking or one understanding of how things should be done. When you work with a group of individuals who stand out from one another you allow for those individuals to play to their strengths. Where one may come up with creative ideas another may come up with the most effective and efficient way to execute it. Diversity promotes out of the box thinking in the workforce which can lead to greater returns.
2. Inspire Creativity.
Along with increasing innovation, creativity increases within the workplace. When you have individuals from several backgrounds you will often see these teams of people work in very unique ways. They are able to brainstorm more ideas, add on to existing ideas with confidence, and share more creative solutions. A diverse workplace will inspire creativity among all employees in a way that everyone feels more relaxed in sharing their experience, input, and perspective. Employees who work in a mixed culture company will often perform better because they feel more comfortable sharing their ideas which leads to an increase in productivity.
3. Better Problem-Solving.
Diversity also makes employees feel as if their opinion matters. No one is keeping quiet because they feel like the minority or that their different experience or ideas are insignificant. When individuals with different skills and experiences are working together they are able to gain a better understanding of other peoples experiences and background. If you have a group of distinct individuals working together who come from various parts of the world, one of those individuals may have a better perspective on how a market from where they are from would react to a new product or service. Without these valuable perspectives, problems can be left unsolved or can become major setbacks.
4. Break Language and Culture Barriers.
Consider how much easier it would be to expand your company globally if you have individuals on your team that spoke the language or new the culture more personally? Having a universal company gives you the advantage to gain better insight into cultures all over the world. These individuals can be what helps you break through any language or culture barriers when you are entering an unknown market. Companies that have a diverse culture are 70% more likely to be able to succeed in a new market than companies that lack this diversity.
5. More Appealing Workplace.
Individuals are actively searching for companies that have an all-embracing workplace. These companies are more attractive to individuals because it makes the statement that it is an inclusive company that values different opinions and ideas. Having a work environment that is expansive will inevitably attract more qualified individuals when job opportunities open up. These individuals often possess excellent skills that would be of great value to any business.
All the benefits of a diverse company culture tie in and relate to one another, but it does not just relate to age and gender. Having employees from all over the world, who may be just beginning their career or who have 10 plus years of experience, who have varying experiences and unique skill sets is not only beneficial but is often necessary for businesses to survive and thrive. When individuals work in a place that encourages and embraces individuality it often leads to a work environment that is more enjoyable and fulfilling for the employee. When an employee feels as if they have a purpose and their unique skills are highlighted and acknowledge they will become more productive and the company in return is more successful.