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The Significance of Diversity in the Workplace

Happier Way Original

In recent years, many institutions have begun prioritizing diversity and inclusion. These include major universities, such as the University of Michigan’s Office of Diversity, Equity, and Inclusion, as well as government institutions, such as the US Department of Health and Human Services’ Office of Equal Employment Opportunity, Diversity & Inclusion. But now it is time for companies to also acknowledge the significance and value of diversity in the workplace as well.

Top 3 Reasons to Value Diversity in the Workplace

While there are many reasons to value diversity in the workplace, let’s take a look at the top three and the significance that they bring to companies, their performances, and their cultures. Once companies design diversity efforts that work, they will be able to secure these benefits.

1. More Perspectives

To put it plainly, more diversity means more perspectives. Because diversity brings together people from all different types of backgrounds—in terms of age, race, gender, education, seniority, and more—there is naturally more diverse thought. By this same principle, things such as policies, strategies, and many workplace problems can be addressed through broad perspectives rather than a narrow focus. 

2. Increased Innovation

The most successful companies create workplaces that promote innovation. After all, innovation leads to product and service differentiation and, in turn, competitive advantages and more revenue. Increasing diversity means being able to solve problems that more homogeneous groups struggle to solve.

3. Better Company Culture

Establishing a positive company culture is paramount to finding business success, but it is a challenge that many organizations struggle to solve. One major benefit to building a better company culture is by recognizing the value of diversity in the workplace. In fact, research has shown that people in more diverse environments are less prejudiced, promoting a culture that is more accepting of all people. In the research, participants in diverse groups “reported feeling greater life satisfaction” and saw others as “warmer and more competent,” both leading to a more positive company culture.

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