The importance of corporate diversity

17/08/2021

The importance of corporate diversity

More and more companies are promoting and incorporating diversity as a strategic element within the company. According to Mercer's "When Women Thrive" report, 89% of Spanish companies are working to improve their diversity and inclusion levels. In this post, we want to tell you about the benefits that a good inclusion strategy brings to companies and the different business profiles that work to make a company advocate for inclusion. 

What is corporate diversity?

Diversity in the workplace means companies opening their doors to anyone, regardless of gender, religion, ethnicity or health status. Business diversity was one of the key workplace trends in 2018 and to this day remains so. Organizations and recruiters have realized the importance of creating workspaces that encourage diversity of thought in order to achieve a greater variety of talent as well.

What are the benefits of diversity in a company?

Implementing diversity within a company's strategy ensures a variety of different perspectives. Diversity means that people will have different characteristics and backgrounds and, therefore, can offer a variety of different skills and experiences, i.e., more creativity. When you bring people together who see the same subject matter in different ways, you are more likely to come up with new and fresh ideas. Without a doubt, this significantly enhances job creativity, but also effective problem solving.

On this subject, a Harvard Business Review study found that diverse teams are more decisive than cognitively similar people, as they can provide a greater variety of solutions from different points of view. Finally, another benefit of workplace diversity is talent retention. More inclusive organizations encourage people to feel accepted and valued, which has a positive impact on the company's social image and how it is valued by the most talented candidates.

As we can see, business diversity benefits not only the attraction and retention of talent, but also the improvement of work processes and their effectiveness. For this reason, companies are increasingly including this aspect in their business strategies, as a new formula of business culture that is essential to be competitive today. But in order to implement this type of action, it is necessary to have expert profiles in this field that can execute and design the best strategies for the company.

Expert Profiles of Corporate Diversity

According to Linkedin, the profile of Chief Diversity and Inclusion Officer or Chief Diversity Officer, will be fundamental for an organization if it aims to grow, innovate and compete for talent. This platform confirms that the number of people worldwide with this profile has more than doubled (107% growth) in the last five years. 

The three most prominent profiles in this area, and the ones that companies should focus on, are mainly: "Head of Diversity", "Director of Diversity" and "Chief Diversity Officer". These profiles are responsible for recognizing, creating and implementing plans to promote diversity within an organization, and a large part of their role is to promote and develop training programs to improve employees' understanding of inclusion. On the other hand, these figures act as HR regulators on diversity issues and are responsible for ensuring that the organization complies with legislation. 

And you, do you already have an inclusion strategy and profiles that are implemented and executed in the company's day-to-day? What other actions or benefits would you implement to meet this need? We want to read your suggestions and we will continue to develop the topic to give you ideas.

See you next week!

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