There’s a myriad of benefits for companies and organisations to foster a more diverse and inclusive workplace. With the Millennial and Gen Z generations being the most diverse in history it is important now more than ever to get serious about inclusion in the workplace. The upcoming generation of workers will be the most diverse talent pool yet, and for businesses and organisations this means they have to look at the benefits inclusion can bring to their workplace and consider how they can benefit from diversity.
Inclusion is more than simply hiring for diversity, it’s ensuring that every single employee regardless of their background, social status, ethnicity, age etc. feels a genuine sense of belonging and like they are valued and respected for their diverse views and perspectives.
We’ve put together a list of the top 4 benefits of inclusion in the workplace and how inclusion ties into women in tech.
A more inclusive workplace is a more innovative one. Making employees feel genuinely included and like they are valued and belong in the organisation is likely to result in more innovation in the long run. Inclusion gives people a sense of security and genuine confidence to take risks, be innovative, and bold in their ideas. Diversity is crucial for a more innovative company culture, but without inclusion as well the true potential of diversity may not be fully realised as people may feel held back due to their alternating views.
Recent research from Fast Company suggested that organisations with above average diversity levels outperform those with lower levels of diversity by 46-58%. One key reason for this could be the increased motivation and loyalty inspired by an inclusive working environment. In a recent press release by AECOM, it was revealed that employees’ commitment to their jobs increased by 70% in organisations with diversity and inclusion programmes. Higher levels of loyalty and motivation for the company someone works for often correlate to higher productivity levels. A company that places inclusion at the core of its values may benefit from higher productivity overall.
Diversity and inclusion in the workplace advances company reputation and positive brand awareness. Being known for having an inclusive workplace will in turn increase the quality of future applicants as well as customer variety. This is because the positive association of social responsibility that comes with caring about inclusion is likely to attract more people to a company. Committing to boosting diversity and inclusion is a way companies can make a difference for women in tech by closing the gender gap hindering diversity in tech teams.
Better talent, higher levels of productivity, and more innovation all result in better products or services for clients and consumers and increased company profits as a result. Statistics have suggested that more diverse companies have 2.3 times higher cash flow per employee over a three year period than less diverse companies. This makes the case for investing time and money into diversity and inclusion strategies in order to empower people to perform at high levels and return the investment through their high quality innovative work.
To read more about inclusion and why it goes hand in hand with diversity, click here to visit our sister site Diversity in Tech