Being a great company means having a diverse workforce. Diversity as we now know equates to higher revenues and greater profits for companies that focus on their diversity and inclusion practices.
Investing into D&I initiatives and practices will increase overall creativity, innovation, morale and company revenue within a corporation or business. Regardless of the size of your company, we are consistently seeing that companies that invest into D&I see a revenue increase by up to 41%.
So, Why is investing in Diversity so valuable to your Workplace?
Well, the Sodexo Corporation is a great example of a company that drastically increase their ROI on their employees by heavily investing into D&I programs and practices. According to Dr. Rohini Anand, Sodexo’s VP & Global Chief of Diversity: Sodexo tracked their investment in their D&I initiatives and found that for every $1 they invested into D&I they saw a $19 ROI.
Here’s some other benefits to investing into D&I…
Benefit 1: Higher Innovation & Creativity
Diverse and inclusive workplaces bring together the best minds. Studies show that companies with higher diversity had 19% higher innovation revenues.
Benefit 2: Better Company Reputation
Investing into your diversity will only make your organization shine bright offline and online.
Benefit 3: Improved Hiring Results
67% of job seekers value workplace diversity and factor it in when considering where to apply. Inclusive workplaces help increase the talent pool you have access to when doing your most valuable hiring.
Benefit 4: Higher Employee Engagement
50% of current employees want their workplace to do more to increase diversity. When employees get a seat at the table and are heard, magic happens. People add more to conversations, care about company success and are more engaged in company culture.
Studies repeatedly confirm that organizations that are more diverse are more innovative and therefore see a fresher revenue mix. Companies that focused on diversity in gender, education, age, migration, industry and career path saw 19% higher innovation revenues.
Diversity & Inclusion is no longer a legal requirement but an intelligent business strategy that creates profitability and most importantly happy, engaged employees.