How Diversity Can Improve Your Company’s Performance

Diversity Can Improve Your Company's Performance

Diversity Can Improve Your Company’s Performance : Organizations that are committed to diversity have higher returns on their investment, take fewer risks, are better focused on the objectives of their clients, and stand out for their capacity for innovation. These are the conclusions that emerge from the Diversity Matters study, by the international consulting firm McKinsey. This report stands as a benchmark in the sector and provides very valuable insights.

According to the data collected by the consultant through a survey of 366 companies, organizations with better inclusion strategies by gender increase their options to obtain benefits by up to 15%. This figure increases to 35% if the organization implements policies in favor of racial diversity.

Far from skimming the surface of these numbers, the report explores why diversity leads to greater business success. How Diversity Can Improve Your Company’s Performance is given below. For the consultant, there are five main reasons:

1. Talent

Talent is attracted to companies that are committed to diversity. In addition, by having more hiring options, organizations with inclusive policies have an easier time identifying and hiring more capable people.

2. Customer Orientation

Companies with inclusive policies are more adept at identifying market needs. For example, a company with women in leadership positions has an easier time adapting its products to the wishes of its target (we must not forget that women are responsible for 70% of purchasing decisions).

3. Job Satisfaction

An organization that is committed to inclusion offers a more open and friendly work environment. There are many studies that show that diverse templates favor interaction between employees, increase their degree of satisfaction and reduce the possibility of conflicts.

4. Innovation

The variety of existing points of view in a team marked by diversity increases innovation and creativity.

5. Corporate Social Responsibility

Companies that are committed to diversity improve their image both for the customer and for their team members.

Diversity: The Pending Subject Of The Business Sector

Diversity is therefore key to optimizing the performance of any organization. But, despite the multitude of studies that support the conclusions reached by the Diversity Matters report, the truth is that inclusion is still a pending issue in most companies.

Very few are workers who believe they have prejudices related to the world of work. However, studies show that they are wrong. According to the Implicit Association Test on gender and professional career, carried out by Harvard University, 75% of those surveyed have work prejudices related to women, age, ethnic origin, nationality, or sexual orientation of women. people.

Improving these figures is not an easy task. The McKinsey report indicates that 70% of companies with strategies to favor diversity fail to apply them. According to the aforementioned study, this happens mainly for two reasons: the lack of identification of the organization’s leaders and the conception of the plan as a non-priority strategy. 

With these premises in mind, how can a company implement a program that is committed to inclusion?

How To Implement A Program For Diversity In A Company?

The involvement and example offered by managers are the keys to successfully implementing a company policy for diversity. To achieve this, a measurable program must be established which, according to researchers Scott Keller and Colin Price (whose conclusion is included in the McKinsey report), must have five stages:

1. Aspiration

Establish a strategy that defines the action plan and the objectives to be achieved.

2. Evaluation

Analysis of the internal situation, and of external examples that serve as references.

3. Architecture

Establish a differentiated action plan for each type of diversity, which must be led by management.

4. Action

Activation of the plan for each planned action. Striking initiatives must be established that involve everyone from the beginning.

5. Progress

Analysis of the change that this plan for diversity is assuming. Establish initiatives that serve to overcome mental barriers and consolidate the transformations that are achieved.

Training, A Key Tool For Diversity

Training is a basic pillar within any program that aspires to promote diversity; It is essential that the team is able to identify the most frequent unconscious discriminatory biases in work environments. Tools like Game of Diversity can be very helpful in this regard.

Game of Diversity

This is the first 100% gamified course on diversity. Created on a fully gamified multilingual Moodle platform, it has tools such as badges and competitive rankings among students. In addition, it offers powerful reports for the manager, which help him work on the most sensitive points.

It will be possible to recreate real situations in which users can practice without the risk of making mistakes. This will improve the decision-making of your team, whose members will receive instant and personalized feedback.

Also Read : Social Networks

Similar Posts