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Benefits of a Diverse Workplace

Due to the current labour market trends, employers are looking beyond the normal demographic for suitable employees. Businesses are looking for employees that are underrepresented in the workplace. These include:

  • Aboriginals
  • Youth
  • Women
  • People with disabilities
  • People of different cultures/ethnicities
  • Foreign/Immigrant workers

Diversity among employees allows businesses to:

  • Meet and predict market demands
  • Increase response and attraction to diverse clients
  • Create and improve products and services
  • Improve decision making
  • Attract, retain, motivate and use employees more effectively
  • Create a competitive advantage
  • Improve company culture and morale
  • Decrease complaints, litigation and conflict
  • Open up new markets
  • Increase productivity
  • Increase market identity
  • Reduce training costs
  • Reduce costs of turnover and absenteeism
  • Create opportunities for disadvantaged groups
  • Better manage the impact of globalization and technological change

There are many benefits to supporting diversity in the workplace. One of the more obvious benefits is improving the knowledge of the company about different cultures, how they operate and understanding their needs. For example, if you decided to hire a Chinese immigrant and you wanted to look into the Chinese market for new clients. This employee could be invaluable to the company because they can explain what the market is looking for, and identify any cultural practices or ideas you should be aware of. If you are trying to expand globally, having employees from your target markets can be a valuable asset.