Why Diversity Matters

Inclusivity means not ‘just we’re allowed to be there,’ but we are valued. I’ve always said: smart teams will do amazing things, but truly diverse teams will do impossible things.

~ Claudia Brind-Woody

I've just noticed that the "nice people" decisions also appear to be the "smarter" decisions. For example, being vegan may be beneficial not only to animals but also to humans; giving appears to bring more rewards than receiving; and a diverse culture appears to create chances for individuals, countries, and enterprises.

And by diversity, I mean a diverse environment comprised of people from various ethnic origins, genders, abilities/disabilities, sexual orientations, ages, or political perspectives.But, doesn't it seems as if diversity is not as well represented as it should be? White men (no, we don't hate you, relax) appear to be vastly over-represented in desired employment positions and positions of leadership.

Furthermore, we tend to conceive of women and people of colour in positions of authority as having received handouts, being lucky, or being exceptions to the rule.

However, statistics paint a different picture. More inclusive firms, for example, appear to be prospering economically, creatively, and productively. However, there are still hurdles to access, instances of backfiring, and a lot of work to be done.

According to a Forbes study, teams beat individual decision=makers 66 percent of the time, and decision making improves with more team diversity. When compared to individual decision-makers, all-male teams make better business judgments 58% of the time, while gender diverse teams make better decisions 73% of the time. Teams with a diverse variety of ages and geographical areas make better business judgments 87 percent of the time.

In other words, the more varied the firm (in terms of gender, ethnicity, age, and so on), the better it appears to perform in comparison to less diverse ones. 

Why?

One factor is the variety of viewpoints that may be gained by having different employees/team members. Different people can contribute to problem resolution in different ways, for as by viewing the company's difficulties from distinct perspectives. As a result, solutions and outcomes will be more likely to be inventive and functional.

Another reason for having diversity, and why diversity may be effective, is that it portrays the "real world" outside of firms' walls much better (or Zoom, post 2020).

It also provides firms with a bigger pool of talent from which to choose.  Consider for a moment that this applies to another area, such as music. Imagine that record labels would only sign pop/white/male/young singers. No, thank you. We'd miss out on too much talent.

To make businesses and other sectors more diverse, we must be inclusive if we have the ability to make hiring or leadership decisions. Be daring if you are diverse and want to pursue the finest potential opportunity.

But we require more.

Diversity Companies may use training to recognise and address unconscious biases, sexism, and racism. However, they frequently backfire and are never totally effective on their own.

We must hold each other accountable.

Individuals should be accountable in their interactions with various coworkers, subordinates, and even superiors on a daily basis. Companies, in particular, must hold themselves accountable for diversity, from hiring decisions to career advancements to leadership selection.

Diversity boards or committees are beneficial. Policies enacted by the government or a company are a move in the right direction. Accountability is essential.

Remember, aside from the obvious ethical reasons for inclusivity, these are the benefits of a diverse business:

1. Innovation
2. A Pool of Different Perspectives
3. Superior Creativity
4. Faster Problem Solving
5. More Effective Decision Making
6. Higher Profits
7. Better Engagement
8. Reduced Turnover
9. Better Reputation