The Ultimate Guide to Cultivating a Diverse Workplace

Nov 29, 2020

The Ultimate Guide to Cultivating a Diverse Workplace

America is becoming increasingly diverse. This shift is good news for small businesses, as inclusive workplaces with diverse demographics bring a host of benefits. First and foremost, you can rest easier at night knowing that you’re promoting a company culture that embraces all employees and empowers them to be their best.

But the goodness doesn’t stop there. Research from McKinsey reveals that businesses that make a point to embrace diversity outperform the competition. Such businesses are “35% more likely to have financial returns above their respective national industry medians,” the research finds.

Businesses that promote diversity showcase the kind of positive values most businesses merely put in their mission statements. People undoubtedly notice these positive actions, and your reputation will be elevated by them. Additional benefits enjoyed by diverse businesses include:

  • Healthier workplace culture
  • Higher community engagement
  • Higher retention
  • More internal perspectives
  • Better brand loyalty

In other words, you should strive for diversity in your business because it’s the right thing to do. And by making ethical decisions, you’ll also see a lot of corresponding perks.

“An inclusive work environment doesn’t just happen; it requires sustained effort,” explains a report on company culture from McKinsey. “Stresses from COVID-19 and extended isolation are driving a range of negative emotions in employees. On top of that, recent prominent examples of racial injustice have affected many employees in ways that cannot be left behind when work begins. This is especially true for Black employees. While the systemic nature of racism demands systemic action, individual actions are an important part of supporting employees and ensuring they can continue to make meaningful contributions.”

In order to foster an inclusive workplace, you’ll need to make a concerted effort to bring in the right people. Once they’ve been welcomed and onboarded, you’ll then be tasked with continuing to treat them right.

About the Author

Grant Olsen

Grant Olsen

Grant Olsen is a writer specializing in small business loans, leadership skills, and growth strategies. He is a contributing writer for KSL 5 TV, where his articles have generated more than 6 million page views, and has been featured on FitSmallBusiness.com and ModernHealthcare.com. Grant is also the author of the book "Rhino Trouble." He has a B.A. in English from Brigham Young University.

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