Quick Tips #10: The Five Reasons Why Diversity Should be at the Heart of Your Company Culture

Written by Injoy Global Co-Founder & COO, Jeff Baietto on June 5, 2020

As have seen on TV over the past week, our nation is once again struggling with the issues of race and diversity. We all want to help. But it can be difficult to know what a single company can do to bring about the changes we all want to see.

At Injoy Global, however, we have always believed that one of the most effective ways to bring about such change is to develop an inclusive corporate culture that welcomes and values all of your employees, regardless of race, gender or economic background.

While you cannot change society as a whole overnight, your company’s culture is your opportunity to build a vision of the world you want to see. And the more that we insist on these values in our daily lives – the more likely it is that they will become universally accepted everywhere.

In short, we believe diversity should be at the heart of your culture. Here are five reasons why:

1. It’s the right thing to do. In America, we often say that everyone should be treated equally. But, as we have seen recently, this isn’t always the case. We still have a way to go as a nation until that is a reality for all of us.

But your culture is one place where you can work to ensure equal treatment. A culture that treats everyone with respect can help your employees, your company and your community grow. And we believe its ultimate impact can go beyond the four walls of your company - and have a positive effect on the outside world.

2. You’ll get access to new, different and perhaps even better ideas – when every one of your decision makers looks, acts and thinks the same way – it is highly likely that they’ll keep coming up with the same ideas.

A culture that actively solicits input from everyone will gain access to a whole new range of wildly different, possibly contrarian – but potentially lucrative - ideas. Every voice in your company wants to be heard. You should insist on a culture that wants to listen.

3. Your target audience is more diverse than ever - Two shocking facts: women in this country make a stunning 80% of all purchase decisions. And yet, incredibly, only 7.4% of all Fortune 500 CEOs are female. It is a lot easier to understand the needs of your target audience when you can personally relate to their lives.

And it’s not only a question of gender. Today’s consumers – and your workforce - are more ethnically diverse than ever before. A smart company will welcome input from every demographic in their employ – and heed their advice.

4. Your workforce is about to become even more diverse, as well – That’s because Generation Z is entering the job market. As of 2020, they already account for 33% of the world’s population. And if there’s one word that describes them, it’s “diverse.”

In fact, almost 50% of Gen Z is non-white. This is compared to less than 20% of young baby boomers. What’s more, Gen Z women attending college now outnumber men by an astounding 2-1 margin.

In short, Gen Z will arrive expecting an inclusive culture. They will be watching closely to see how everyone is treated. And if your culture is not perceived as fair or welcoming, then they will go to work for someone else.

5. Because when everyone is included – everyone benefits - Inclusiveness will increase the value of your entire company. When people know they are genuinely embraced as unique individuals, they will give their all to help your company succeed.

Research shows that fully engaged employees can increase productivity by 37%. Employees whose opinions are valued – and acted upon – will have a greater sense of ownership and pride of outcome.

Embracing diversity will make your company stronger, more vibrant and more reflective of the customers you serve.

We still have a long way to go until our society treats everyone with the respect they deserve. But instilling a positive corporate culture will help your company contribute a small – but vitally important - part to a larger, long-term solution.

We’ll get through this.

Jeff

P.S. Please share your own tips or suggestions for embracing diversity in the comments below.

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Jeff Baietto
COO + Co-Founder

Supporting Articles

https://www.npr.org/2018/11/15/668106376/generation-z-is-the-most-racially-and-ethnically-diverse-yet





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