Diverse Multicultural Work Force Advantages
“Diverse cultural perspectives can inspire creativity and drive innovation.”
One of the real values of a diverse workforce is having different minds working for a common purpose that leads to accumulating assorted bits of information, things are done in unique fashion and everyone working together to achieve goals. Research show there are 8 key benefits to companies of having cultural diversity in the workplace:
- Increased productivity
As outlined in the research paper “The economic value of cultural diversity: evidence from US cities” having multiple culture collaborating together on resolving problems often leads to an increase in productivity levels as every employee with a different cultural background tends to approach work problems with a different angle. The multiplication of these different angles tend to produce a much faster way to resolution than a traditional one dimensional approach.
- Increased creativity
Multiple minds working together with different cultural background will often result in a much more creative approach. A 2013 survey undertaken by think tank, Center for Talent Innovation, found that 48 per cent of companies in the US with more diversity at senior management level improved their market share the previous year, while only 33 per cent companies with less diverse management reported similar growth. This may be in part to global business trends, and the benefits of language diversity.For example; with the rise of companies dealing their businesses in China, a company that hires employees fluent in Mandarin to increase the company’s reputation in Chinese communities. This could result in an increase in sales, and resulting in improved profits.
- Increased employee engagement
Employees who work for a company where cultural diversity is higher tend to stay longer. Furthermore companies that encourage social and cultural diversity, including gender diversity are twice as likely to attract and retain talent that those who don’t. This is due in part to the appeal for employees to be surrounded by people with different cultures from who they can learn from.
- Cultural diversity reflects positively on reputation
Another benefit of cultural diversity in the workplace is the positive reputation that the company would receive. Companies who recruit and encourage individuals from a wide range of backgrounds generally gain a reputation for being a good employer. Potential clients often feel more valued and thus give more business to these organisations. A diverse collection of skills and experiences allows a company to provide service to customers on a global basis because the company is able to relate and understand their clients better, and some even on a personal level.
- Cultural diversity encourages wider range of skills
When companies hire a more diverse workforce from all backgrounds, these employees inevitably bring their own specific skills, that can be often just as diverse.Having a wider range of skills and knowledge available to them, these companies often enjoy a more diverse and adaptable range of products and services that they can offer to their respective markets.Diversity in cultures means diversity in skills and therefore products and service offerings.
When next planning to hire new employees, consider making an effort to hire a diverse range of people, across gender, age and cultural backgrounds. Your organisation could soon enjoy a wide range of benefits that ultimately will reflect on the bottom line.
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