10/29/2023 0 Comments Benefits of diversity and inclusionBut diversity is just one part of the equation. Recruiting a diverse workforce injects personality into an organization’s culture. In the public sector, a more productive workforce can serve your community more efficiently and at a lower cost. In the private sector, this can give you an edge over your competitors. Secondly, diverse teams tend to be more creative and better at problem-solving. A more productive workforce translates to higher profits. Why does diversity have such a strong impact on financial performance? For one, diversity increases productivity. Organizations with ethnic and culturally diverse leadership are 33% more likely to outperform their peers.Organizations in the top quartile with gender-diverse executive teams were 21% more likely to experience above-average profitability than their industry peers.Increases ProductivityĪ report by McKinsey & Company found that diverse companies perform better, especially if an organization's leadership is diverse. Measuring the impact of diversity and inclusion isn’t always straightforward, but research indicates five common benefits of diversity in organizations. Having a diversity, equity and inclusion (DEI) program has proven advantages. How Diversity Can Improve Your Organization’s Performance
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