Tiffany Callender – Co-Founder and CEO of The Federation of African Canadian Economics (FACE).
In the ever-evolving landscape of modern business, fostering diversity and inclusiveness within a workplace has become a paramount consideration for achieving sustainable growth.
The benefits reaped from a diverse workforce extend far beyond mere compliance; they encompass tangible and intangible advantages spanning benefits such as increased productivity, a positive work environment and heightened morale—all culminating in increased employee retention, loyalty and lower turnover rate.
I firmly believe that any successful business strategy must incorporate diversity and inclusivity as its foundational pillars. Here are some of the reasons for you to actively recruit through the lens of building a diverse and inclusive workforce.
Cultivating Creativity And Innovation
When individuals from different backgrounds come together, their varying experiences, cultural nuances and unique perspectives can help create an ecosystem that allows your business to challenge the norms, question preconceived notions and push the limits of what is possible. More importantly, it helps create a space for different points of view and allows you to expand your mind, think outside the box and discover new ways of doing things—fueling innovation, creativity and business growth.
One of the assets I have prioritized throughout my career is having individuals from diverse backgrounds who can contribute to the fabric of my organization. When we go out to the community, it is magical to see the connections made when people find within my company folks who have a shared lived experience—to see them exchange in their language of origin or share stories about how they arrived in Canada. Because of that dynamic, you can automatically see trust develop, which we, as a company, benefit from.
Increased Employee Morale And Loyalty
Creating an environment where employees feel valued and empowered can be challenging. However, companies that embrace diversity send a strong message that the workplace is inclusive and welcoming.
One of the things I have always encouraged is to let people bring their authentic selves to the workplace environment, and this includes their culture. I have seen how this can result in increased employee morale and loyalty to the company. Even small things like an internationally-themed potluck or intentionally having music from different countries in the playlist at an employee mixer can help you create inclusivity for the employees. It’s not just the professional skill sets that a diverse group brings to the table, but their identities and unique viewpoints also have an overall impact on the culture of your organization.
Taking stock and being intentional with even the small things can significantly impact your employees’ morale. In fact, according to at least one productivity study, employees can be up to 20% more productive when they are happy, as compared to unhappy or complacent colleagues. Striving for a happy workforce and positive work culture is one of the core foundations of ensuring strong and sustained business longevity and growth—complemented by lower turnover rates.
Improved Talent Acquisition And Retention
A company’s diversity and inclusiveness are also major deciding factors for many job applicants. A recent survey by Glassdoor underscored that a whopping 76% of job seekers consider a diverse workforce a key consideration when evaluating a job offer.
Thus, for companies that want to attract and retain top talent, I think this is a crucial ingredient in the recipe for success. Therefore, you want to create a work environment that reflects the cultural melting pot that we live in and ensure that you can both hire from the best talent pool and retain excellent talent.
I have personally benefitted from having individuals who have worked in different parts of the world, whether it’s their country of origin or through travel. I find that it results in a far richer exchange in leadership dynamics, the team-building process and capturing those moments of “lightning in the bottle.” People bring to the table what they have seen work in other markets or parts of the world, and you can benefit from seeing how these strategies resonate in your own environment.
Catering To Customers’ Preferences
In business, the customers reign supreme, so listening to what drives them in their purchasing decisions is essential. In recent years, the composition of the customer base has evolved significantly, driven by increasing immigration and the emergence of minority communities.
Consequently, businesses now serve an increasingly diverse clientele. I cofounded my organization with the express notion that in addition to the traditional five Cs of credit, there is a sixth C: culture. Recognizing the significance of diversity to your clients can make all the difference.
A diverse workforce sends a message of openness and acceptance that resonates powerfully with customers, often in subtle, unspoken ways. As said in French, “C’est des non dit”: the things that are not said can become resonating and obvious. Thus, it stands to reason that when a company reflects a diverse and inclusive culture, it is more likely to attract and be top of mind for customers from minority communities.
It is evident that diversity and inclusion are not just ethical ideals but also astute business strategies. By championing diversity, companies can harness the full spectrum of creative ideas, foster a positive work culture, attract top talent and build robust relationships with an increasingly diverse customer base.
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