The Importance of Diversity in the Workplace

By SilverDoor Apartments, Serviced Apartment and Corporate Accommodation Experts The RES Forum’s Technical Partner for Temporary Accommodation Solutions Written by Anton Constantinou.

Diversity is a much talked about topic in big business. With offices now increasingly multicultural, and greater gender equality in leadership roles, it seems that companies are becoming more open in the way they operate.

Diversity isn’t just a simple matter of race, gender or social class. It’s about businesses embracing different views and attitudes as part of a balanced workforce. In an age of mass immigration, equal opportunities and same sex marriage, the call for inclusivity has never been stronger.

Here are just a few reasons why diversity in the workplace is important:

It stimulates creativity, learning and innovation

A 2013 study by Harvard Business Report revealed that companies that focus on achieving diversity are likely to perform better. The report goes on to say that diversity “unlocks innovation by creating an environment where ‘outside the box’ ideas are heard”.

It helps drive profits

Recent evidence shows that businesses with women in top positions are more likely to be profitable - the argument being that “women in corporate leadership positions may improve a firm’s performance. At SilverDoor Apartments, our 14-person senior management team is made up of eight women and six men.

It helps companies solve problems better

A little diversity goes a long way when it comes to problem-solving. A study from the University of Michigan found that groups of diverse problem solvers generally outperform those with the most intelligent problem solvers. In a nutshell, diversity carries contrasting visions and beliefs, which, in a work environment, creates a healthy free-flow of ideas.

It reflects well on brands

From April, British businesses will, for the first time, be required to disclose their gender pay gaps. Companies must, therefore, respond by ensuring their diversity and inclusion initiatives are up to scratch. According to a recent study by Glassdoor, greater investment in D&I programmes makes firms more attractive in the eyes of job seekers, and provides positive brand awareness.

It unlocks talent

By recruiting a wide range of people, businesses are able to tap into different skillets. An open-hiring policy creates an attractive workplace where employees feel valued not for what they look like, but rather for what they can bring to the table.

Our workforce includes graduates, placement students and former apprentices. Heads of departments have joined us from other businesses while, for some, SilverDoor was their first job after university, and they’ve progressed through the company to their current position. Collectively, we speak more than 14 languages across our three offices in London, Lancaster and Singapore. We are a global service provider and it’s important that our team reflects the people we work with and the customers we serve.

Sources

https://www.managementtoday.co.uk/build-culture-diversity-inclusivity-workplace/future-business/article/1457154
https://www.cipd.co.uk/knowledge/fundamentals/relations/diversity/factsheet
https://www.peoplemanagement.co.uk/experts/research/businesses-expect-increase-investment-diversity

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