For any business to move forward on diversity initiatives, it needs to have a business case as to why it is important to make diversity a priority. I could easily argue that any business that wants to stay competitive in the 21st century cannot afford not to make diversity a priority.
However, here are a few highlights to consider when it comes to making a business case for diversity:
Diversity Stimulates Creativity:
For any organization to compete and thrive in the 21st century, bright and creative people are vital otherwise your company will falter. In the coming years fewer employees will be required to make material goods but more individuals will be in demand that can generate bright and innovative concepts. And this comes about from having a diverse staff!
Diversity Increases Productivity:
Productivity increases when a workplace truly values and enhances the similarities and differences of their employees. This is when people can be who they are without being judged. And harmonious work environment increases allegiance, moral and job satisfaction.
Diversity Improves Workforce:
As the workforce begins to change, attracts the best and brightest employees which ultimately enhance and improves the workplace. Without this top talent, your company will not be able to compete. As the labour shortage looms, this is already the case in some sectors of the Canadian economy such as mining, companies will struggle to find qualified employees. Retain you’re your best and brightest staff members.
Diversity Improves ROI:
When your employees are content in the workplace, you have less turnover, and just that can reduce the cost of recruiting and training employees. The average cost of hiring a new employee is about $10,000. This could be more or less depending on the position being filled.
Organizations need to understand that diversity in the workplace can no longer be ignored or put on the backburner. For any company to do well, they will have no choice but to embrace diversity. The global market is changing, and it is becoming smaller but more competitive.