Diversity services helps businesses design and hire an effective and diverse workforce. Their services include matching qualified individuals for temporary to full time positions, payroll services, full-time executive level positions and employee leasing.
A diverse team helps increase productivity because it allows employees to work with different perspectives and opinions. In turn, this boosts creativity and innovation.
1. Attract and Retain Top Talent
In today’s highly competitive job market, candidates are looking for companies that offer great salaries and benefits, include inclusive company cultures and provide ample career development opportunities. They also prioritize employers that align with their goals and values.
To attract top talent, it’s important to build a diverse recruiting pipeline by removing educational requirements and focus on experience, such as internships, community service, volunteer work or holding leadership positions in clubs. This approach helps ensure you’re hiring the right people for the job from the start and reducing the potential for bias in your recruitment process.
Offering intentional, goal-aligned development options can have a dramatic impact on employee retention rates. Not only does it increase employee engagement, but it also strengthens employer brand and improves company culture.
2. Foster Innovation
In today’s global business environment, the ability to innovate is essential for success. A diverse group of workers from different economic backgrounds, educational experiences, genders and ethnicities can provide a rich source of innovative ideas that will help your company compete in the market.
In fact, a new study published by PWC found that companies that are more inclusive in their management teams outperform the industry on innovation revenues by nearly 20 percentage points. They are also more likely to find unconventional solutions to problems and develop more innovative ideas that become winning products in the marketplace.
Having a diverse workforce helps to stimulate the minds of all employees in a unique way, and it is this stimulation that fosters innovation. It also allows for an environment where “outside the box” ideas can be heard, enabling all members to access senior leadership’s ears and persuade them to allocate resources to pursue those ideas.
3. Increase Customer Satisfaction
Embracing diversity and treating people equally can make a huge difference to your customer service. It can increase customer satisfaction and encourage repeat business. It also shows your customers that you are open and welcoming to their culture.
In addition, a team that is made up of different individuals will be more willing to offer up unique ideas and solutions. This will lead to more creativity, which can ultimately boost productivity and profitability.
Companies that are in the top quartile for gender diversity outperform their competitors by 21% in profitability, and those that are ethnically diverse are 35% more likely to create superior value creation.
To maximize the impact of diversity on business results, it is important to target employees in the job families with the most direct customer interactions and impacts. For example, hiring salespeople who regularly interact with your diverse customer base will have a much greater impact than hiring maintenance personnel who rarely meet these groups.
4. Increase Employee Engagement
In an inclusive workplace, employees are more likely to feel connected to their company in a way that goes beyond just a paycheck. Employees who feel valued and included will stay with the organization longer, helping it to grow.
Employees who are engaged in their work will also perform better. Especially when it comes to creative breakthroughs, the team will be more willing to contribute to ideas that are not just in line with the company’s values, but also more authentic to their individual perspectives.
Employees who feel like they belong in the workplace will also remain happier, which will decrease turnover rates. This will save the company money in terms of hiring new employees and training existing staff members. Keeping the best people around for longer will also increase profits.
