This is what many companies will say when asked privately about their “Diversity Plan”. The truth is Diversity Makes Good Business ₵ents. The uncertainty that many businesses have about developing an action plan for diversity comes from the misunderstanding of the costs and benefits. Sure, once a year there’s a day to celebrate multiculturalism resulting in an increased awareness about culture and the world outside your office, but businesses are starting to realize that the real benefits of diversity are the seeds of innovation that get planted within the minds of diverse and engaged employee groups. Companies are realizing that diversity leads to richer points of view, the ability to look at challenges in a different light, and that often long lost employee feeling of empowerment – all things that lead to an improved bottom line. Planning a strategy to develop diversity in the workplace is a process that requires you to engage your employees. Don’t worry; there are long standing community groups in every part of the nation that can provide your company with information, support, and the ability to tap into new and innovative employee pools to access amazing candidates. Reporting your progress is also a valuable tool to help you reach your diversity goals; it also lets your community know that you are committed to making diversity a part of your business. Now back to the all-important cost factor: with shrinking labour pools, companies are spending more and more time, money, and effort on finding and training candidates, sometimes filling a position more than once. As a business you can accept those continuing costs, or you can invest in making innovation and diversity a part of your strategy to improve the bottom line. The return on investment is always in your favour when you invest in innovation. Consumers want to feel that they support businesses that reflect who they see in their own community. As the global economy continues to grow and thrive with its many multi-cultural faces is it not time that we better reflected the diversity in our workplaces too?
“Diversity costs money”