Which of the following is not a benefit of valuing diversity in an organization?

Which of the following is not a benefit of valuing diversity in an organization?

Building such culture is something that most companies strive to achieve now. But why is that so? Is it just about improving a company’s reputation and promoting inclusion at the workplace?

While your company’s reputation and inclusion are definitely important goals worth pursuing, workplace diversity has many other immediate and tangible benefits related directly to your company’s bottom line.

Thus, workplace diversity is not just a politically correct fad - it is a serious competitive advantage. The research even showed that you can outperform your competitors and achieve greater profits! So, let's see other benefits as well!

What are the benefits?

Here is the list of the top 10 benefits of diversity in the workplace:

Which of the following is not a benefit of valuing diversity in an organization?

#1: Variety of different perspectives

Diversity in the workplace ensures a variety of different perspectives

Since it means that employees will have different characteristics and backgrounds, they are also more likely to have a variety of different skills and experiences.

Consequently, employees in a company with higher workplace diversity will have access to a variety of different perspectives, which is highly beneficial when it comes to planning and executing a business strategy. 

#2: Increased creativity

In addition to having a variety of different perspectives from people with different backgrounds, the exposure to a such variety leads to increased creativity. 

When you put together people who see the same thing in different ways, you are more likely to get a melting pot of fresh, new ideas, thus improving the creativity of your workforce.

#3: Higher innovation

Diversity in the workplace leads to higher innovation rate.

According to Josh Bersin's research, inclusive companies are 1.7 times more likely to be innovation leaders in their market. 

In a diverse workplace, employees are exposed to multiple perspectives and worldviews. When these various perspectives combine, they often come together in novel ways, opening doors to innovation

#4: Faster problem-solving

Companies with higher workplace diversity solve problems faster.

Harvard Business Review found diverse teams are able to solve problems faster than cognitively similar people.

Employees from diverse backgrounds have different experiences and views, which is why they are able to will bring diverse solutions to the table. Thus, the best solution can be chosen sooner, which leads to faster problem-solving. 

#5: Better decision making

Workplace diversity leads to better decision making results.

A white paper from the online decision-making platform Cloverpop has found a direct link between workplace diversity and decision-making. Researchers found that when diverse teams made a business decision, they outperformed individual decision-makers up to 87% of the time. 

When employees with different backgrounds and perspectives come together, they come up with more solutions, which leads to the more informed and improved decision-making processes and results. 

#6: Increased profits

Companies with greater workplace diversity achieve greater profits. 

McKinsey & Company, a global management consulting firm, conducted research that included 180 companies in France, Germany, the United Kingdom, and the United States. They found out that companies with more diverse top teams were also top financial performers.

Companies with a diverse workforce make better decisions faster, which gives them a serious advantage over their competitors. As a result, companies with diversity in the workplace achieve better business results and reap more profit. 

#7: Higher employee engagement

Workplace diversity leads to higher employee engagement.

Deloitte conducted research that captured the views and experiences of 1,550 employees in three large Australian businesses operating in manufacturing, retail and healthcare. This research showed that engagement is an outcome of diversity and inclusion.

The link between workplace diversity and employee engagement is pretty straightforward - when employees feel included, they are more engaged

#8: Reduced employee turnover

Workplace diversity is beneficial for employee retention.

Companies with a diverse workforce are generally more inclusive of different individual characteristics and perspectives. 

Diversity and inclusion in the workplace cause all employees to feel accepted and valued. When employees feel accepted and valued, they are also happier in their workplace and stay longer with a company. As a result, companies with greater diversity in the workplace have lower turnover rates. By creating commitment to diversity and employees create a sense of belonging to the company and are less likely to leave. 

#9: Better company reputation

Companies that are dedicated to building and promoting diversity in the workplace are seen as good, more human and socially responsible organizations which ultimately creates a better reputation for the brand.

Workplace diversity also makes your company look more interesting. Finally, if you present a diverse workforce, you will make it easier for many different people to relate to your company and your brand, opening doors to new markets, customers and business partners.

Communicate your values through a customizable branded career site!

Create your branded career site in TalentLyft, and make sure to display how diversity & inclusion are important to your company. Easily communicate your values and customize the look and the feel of your website.

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#10: Improved hiring results

Diversity in the workplace boosts a company’s employer brand and presents a company as a more desirable place to work. Workplace diversity is an especially beneficial asset for attracting top talent from diverse talent pools.

According to a survey conducted by Glassdoor, 67% of job seekers said a diverse workforce is important when considering job offers.

Which of the following is not a benefit of valuing diversity in an organization?

Workplace diversity infographic

Which of the following is not a benefit of valuing diversity in an organization?

How can you leverage the advantages of workplace diversity?

Workplace diversity can take your company culture and your business results to a whole new level. 

If you want to leverage all the advantages of workplace diversity, first you need to learn how to build and manage workplace diversity in an effective way.  

What to transform your workplace into a more diverse and inclusive environment?

Make sure to attract diverse talent by displaying your values in a customizable career site. Our TaletLyft editor makes it easy for anyone to edit the content of their career site without having any coding knowledge!

 Find out more! 

Which among the following is not a benefit of diversity in an organization?

Detailed Solution The correct answer is Increased cohesiveness.

Which of the following is the benefit of having diversity at the workplace?

Increased creativity: As various cultures and backgrounds work together, the opportunity for increased creativity exists. This is because there are more people with differing perspectives and solutions to problems, allowing for a greater chance of a workable solution to a workplace problem.

What are the benefits of diversity quizlet?

Benefits of Diversity. Higher Creativity in Decision Making. ... .
Higher Creativity in Decision Making. ... .
Better Understanding and Service of Customers. ... .
More Satisfied Workforce. ... .
Higher Stock Prices. ... .
Lower Litigation Expenses. ... .
Higher Company Performance. ... .
Challenges of Diversity..

Which of the following is not an internal dimension of diversity?

According to the 4 Layers of Diversity model created by Gardenswartz and Rowe (2003), social origin does not belong to the so-called internal dimensions of diversity.