Diversity is an essential element to have a pluralistic society. It is of no doubt that variety is responsible for blending of ideas and efforts to come up with innovations. Variety helps in eradicating feminism, gender identity, political difference, and social segregation.
Diversity surrounds us every day either at work or in the society. Studies have shown that more diversity translates to more success. We have social, economic and cultural diversity.
Importance of diversity
Diversity is essential in the following ways
- It gives better financial results
Numerous studies have revealed that organizations with diverse teams make massive profits. Additionally, firms with the most racial and ethnic diversity have a higher chance of being successful financial
- Leads to shared information
Homogeneous groups have diverse ideas and experience. This implies they supplement each other with information. The problem you are facing another person has its solution
- It contributes to global-level competition
We live in a global economy where diversity is a crucial element for success. Companies who hire employees from diverse population can compete globally. This boosts global entrepreneurship.
- It allows for fact-based decision making
Different groups tend to make their decisions basing on the facts. They look beyond the old way of thinking and re-examine facts thus making the appropriate choice.
- It boosts creativity
If we live in a society where everyone thinks and acts alike, then you will always see the same, and it is possible to experience common problems over a more extended period. Therefore, a homogeneous society have creative ideas which provide solutions
- It leads to innovations
The cause of change has diversity. When people have diverse thinking, they tend to come up with new ideas which result in new inventions
- Allows for cross-cultural understanding
Various groups get along better creating a better world to live. It eliminates misconceptions and prejudices
- Boosts team performance
The common agendas and goals unite a diverse group. Therefore, an organization with different employees has higher chances of being successful.
- Avoid high turnover
Lack of diversity in the workplace can create a hostile environment for those who feel like they don’t fit in. Successful companies have networking groups and internal programs which support diversity which establishes a workforce community.
- Capture more of the market
Difference creates a sufficient demand for all consumers regardless of their ethnic, gender or social status. Building a diverse workplace increases market share.
For a modern society diversity is essential. Let’s embrace this together for wholesome growth and development. All you need is to be flexible to diverse environment and thinking.