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According to research, workplace diversity and inclusion lead to increased employee engagement, better performance, and higher profits.
Fremont, CA: A diverse workplace promotes higher levels of employee engagement, improved performance, and increased profits. The importance of diversity and inclusion has increased by 74 percent in the last three years, according to a recent report. The concept of diversity and inclusion in the workplace is not new, but many businesses struggle to put it into practice.
According to research, workplace diversity and inclusion lead to increased employee engagement, better performance, and higher profits. The concept of forming teams made up of people with diverse backgrounds lived experiences falls under a new frontier focused on adding diversity of thought to the traditional demographic lens. While the concept of workplace diversity and inclusion is not new, the new frontier is focused on bringing a diversity of thought to the traditional demographic lens by assembling teams of individuals with diverse lived experiences.
According to recent research, employee diversity often correlates with higher levels of employee engagement. Today's employee is concerned with more than just the monetary benefits that a career can provide; they want to know that the work they do matters and that the company they work for is committed to creating a diverse and inclusive environment. The modern employee is concerned with making a difference, and this ideal extends to how they want their workplace to be. This includes working in a diverse and inclusive workplace.
To foster diversity and inclusion, businesses must first become great listeners, implementing meaningful, 'always-on' employee voice programs. Companies with greater racial/ethnic or gender diversity have been shown to outperform their national industry medians in terms of financial returns. Furthermore:
• Companies with the highest levels of racial diversity in their organizations generate nearly 15 times the amount of sales revenue as those with the lowest levels of racial diversity.
• Companies with more diverse management teams generate 19 percent more revenue due to innovation.
• According to research, businesses with more diverse teams are more innovative, engaged, and creative in their work.
See Also : Diversity And Inclusion Companies