The business environment is constantly evolving at home and abroad. And when it comes to diversity and inclusion, here are some key factors, which organizations need to address, if they still want to thrive and prosper in the coming years.

In today’s global business market, management requires the expertise and tools to deal with changing demographics in the general marketplace, and workforce in the 21st century.

They need to recruit the best and the brightest from a diverse talent pool: women, different age groups, LGBT, people of colour and applicants with disabilities, etc.

Furthermore, employees that have worked in other countries have global knowledge and can converse in more than one language. This exhibit that they can think in more than one way to come up with ideas and solutions, which in the end affects the success of the company.

Furthermore, in the ever-changing global market, companies need to think globally in terms of succeeding.

But it will not be easy, especially when countries like the U.S., U.K., France as well as many other nations are putting up barriers. Even countries such as Canada that welcomes people from different nations with open arms has a problem – subtle racism. Racism is often more than a social dilemma – it is an economic one as well.

To overcome this cancerous attitude, organizations must have diversity and cultural sensitivity training on a regular basis. And all the staff members need to be on board. Diversity must become a culture instead mission and vision statements, which are not always followed.

Businesses that will survive in the coming years are not the ones that are the biggest, strongest, or the wealthiest, rather it will be the ones that adapt.

We are aware what is happening to many one time successful companies such as Sears, which is now faltering. This company did not make the necessary changes along the way to adapt to the new market changes and now are in a reactive mode.