Diversity should be understood as the varied perspectives and approaches to work that member of different identity groups bring within an organization. Unique, important, and competitively relevant knowledge and perspectives to a task—how to design processes, reach goals, frame tasks, create effective teams, communicate ideas, and leads.
Importance of Diversity?
Diversity has the potential to eliminate the inter and intracontinental borders, hence broadening the scope of accessibility for a larger talent pool untapped by the majority of organizations. Women, ethnic groups, LGBTQ+, disabled are few amongst many underrepresented sections of our society that have immense potential which has not yet been fully explored.
According to a report by the Harvard Business Review, companies with greater than 30% female executives were more likely to outperform those with 10%–30% women executives. A similar condition in case of the varied ethnic groups, where companies in the top 25% for ethnic and cultural diversity were found to be 36% more profitable than those in the bottom 25%.
Benefits of Diversity
- Enhanced productivity:
- Enhanced creativity:
- Improves cultural awareness:
- A positive reputation:
- Increases marketing opportunities:
This diversity of talent means that employees have a greater range of talents as well as a diversity of experiences and viewpoints, which boosts the possibility for increased productivity.
When people from different cultures and backgrounds bring different viewpoints and solutions to problems, increasing the likelihood of a feasible solution to a workplace problem.
A diverse range of cultures in the workplace enables businesses to deal with the various nuances in a global economy.
Companies with a diverse workforce are frequently seen as better employers. In fact, 67% of job seekers factor in workplace diversity when considering applying to a company.
Diversity promotes a favorable reputation, raises market awareness, and results in a more diversified client-base
With governmental benefits and tax exemptions involved, collaborating with registered Diversity suppliers has been fruitful for the organizations to a large extent. ShoreWise Consulting is a leading global player in IT recruitment and staffing solutions, with a niche focus on Staff Augmentation. We are a registered Minority Business Enterprise in US and Canada delivering opportunities for your business to realize your DEI goals and also a way to ensure that you have access to a diverse and wider skilled talent pool.
Partnering with us can help you access advantage of many federal and state tax incentives, tax breaks, and potential rebates that are exclusive to MBEs, thus increasing revenues and reducing overall costs for MBE partners as well. With our years of experience, we have become the go-to partner for businesses looking to embrace an inclusive approach with a diverse global workforce, thus amplifying the benefits of your supplier diversity programs.