California employers can increase profits and reduce turnover rates by focusing on diversity and inclusion in the workplace. Increasing the diversity can result in more innovation, improved employee morale, and increased productivity.
Understanding workplace diversity and inclusion
Workplace diversity and inclusion are terms that have seized the public imagination over the past decade. While they are popular concepts for businesses, many employers don’t understand what they mean and how to make their workplaces more diverse. Diversity refers to including people of multiple backgrounds in the workplace, including people of different races, religions, genders and gender identities, and other differences. It can also refer to including people who are of different socioeconomic backgrounds. A diverse workplace that is also equitable and inclusive is one in which people of all backgrounds share in the decision-making structure and have opportunities to provide input. Employees that work in diverse workplaces are likelier to feel valued.
Benefits of workplace diversity and inclusion
Research has demonstrated that employers can derive multiple benefits from emphasizing workplace diversity and inclusion. When a business increases the diversity and inclusiveness of its workplace, research has shown that it might benefit in the following ways:
- Increased profits
- Greater innovation revenues
- Improved productivity
- Increased employee morale
- Reduced turnover rates
By promoting diversity and inclusion in the workplace and hiring people of various backgrounds, employers can demonstrate to their employees that they are valued. This can result in greater creativity and an increase in ideas for business improvements, which can facilitate the business’s success and growth. While diversity and inclusion might seem like popular terms that many businesses toss around as abstract ideals, companies that embrace diversity and facilitate inclusion and equity in their workplaces are likelier to experience greater creativity, productivity, growth, and success as compared to those that have homogenous work environments.