Report on Diversity and Inclusion: Benefits for Company Growth

This report examines the multifaceted benefits of diversity and inclusion within a company, emphasizing the shift in how businesses view their employees and the critical importance of diversity, equity, and inclusion for business leaders. It highlights how these factors contribute to a healthier workplace environment, promote equality, and fair treatment for all employees. The report details the advantages of diversity and inclusion, including increased skill variety and inventiveness, a more innovative and happy workplace, reduced conflict, higher standards of learning, reduced stress, better health, and more productive employees. It also emphasizes that organizations embracing diversity often achieve greater market share and a competitive advantage, showcasing adaptability and a broader perspective. The conclusion underscores the significance of recognizing employees' differences and inspiring them to leverage their unique qualities, advocating for the implementation of diversity and inclusion policies alongside community acknowledgement plans.

Diversity and
inclusion

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Diversity and inclusion means variant of employees who are working in a company. This report
is about benefits of this within a company (Boncori, Sicca and Bizjak, 2019). It will tell about the
way businesses view their employees has shifted. It's critical for business leaders to think about
the advantages of diversity, equity, and inclusion. Diversity, equity, and inclusive are very
essential for any organisation.
MAIN BODY
Diversity and inclusion are two important factors that lead to a healthy environment at
workplace. It is essential for different organisations to implement laws related to diversity and
inclusion so that all employees will feel equal while working. Equality and fair treatment are
essential for all people. And this is why it is so important to value diverse, inequality, or
integration. People aren't merely a part of the firm; they're a vital component of it (Chow, 2018).
The main objective in increasing overall staff morale is to create a more diverse and accepting
company culture. Before it comes to business advantages, far too many people focus on the
monetary element. Instead, we should start with a cultural problem. There is requirement for
different companies to look after their rules and regulations associated with providing equal
rights to employees. A company should discover and understand diverse workforce's specific
requirements and viewpoints in order to assure their inclusion and fair treatment. Formulate new
tactics to drive inclusion by doing a frequent comprehensive examination of your industry's
demographics and the particular needs of distinct business units. Only when all these techniques
target the needs that are specific to your product are usually productive.
Benefits of diversity and inclusion at workplace
 Increased skill variety and inventiveness - Historically, whites non binary males have
dominated the Western cultural heritage; the erasure of such barriers has fostered a much
more diverse and rich weaving of worldwide art. On a corporate level, the same is true.
For your business to evolve, you'll need talent with a broad scope, allowing diverse
worldviews and skills to collide and combine to create something new. It's there that true
inspiration blooms.
 It generates a more innovative, happy workplace and a larger, global viewpoint when
each person contributes their unique brand of thought to the table. A more sustainable

environment and a more successful business. “Position in the top for population density
on executive positions were 33 percent more likely to have industry-leading
profitability,” as per a McKinsey & Company analysis (Smith, 2017). The fact that this
association has remained robust implies that inclusion of very varied persons – and the
many forms of diversity that exist beyond gender – is important.
 Social support from co-workers has been found to have a substantial impact on employee
engagement. Employees who feel like they're part of a team, working toward a common
objective, report higher motivation, happiness, and overall productivity.
 Lesser conflict and good outcomes: Socialisation reduces conflict, improves
performance, facilitates data sharing, and solidifies empathy – all while encouraging
more comfortable and efficient exchange patterns, boosting trust, and increasing
"tolerance of imbalance in service encounters."
 Higher standards of learning: A culture of team performance and inclusion promotes
learning motivation and effectiveness.
 Reduced stress: When coworkers offer peer capital, it can help to mitigate the effects of a
heavy job and, as a result, burning.
 Better health: If a sense of belonging is developed, it helps to improve the living body
system. Anyone who doesn't feel like they participate may suffer from psychobiological
illnesses, as well as a debilitating disease.
 Employees who are happier and more productive: “Participants concluded that customer
celebrations made them happier in their job, improved diversity and worksite knowledge,
diminished isolation, and cultivated relationships, all of which attributed to their
willingness to be more efficient in their job,” according to one study.
 Affective commitment increased: Work engagement is directly influenced by incentives
and positive affect, which leads to an increase in normative commitment. Your
organization will gain a competitive advantage if you embrace diversity and inclusion. As
shown in a study conducted by The national for Talent Innovation, organizations that
embrace diversity get a greater market share and a competitive advantage when entering
new markets (CTI). Positive workplace practices may unlock a diverse workforce's
innovative potential, allowing businesses to not only grow their percentage of traditional
customers but also expand into new industries (Syed and Ozbilgin, 2019). Diversity and

inclusion are typically indicators of adaptability - having a wider range of backgrounds,
talents, and experiences allows organizations to be more flexible in responding to
changing markets. Through a broader and more thorough viewpoint, diversity allows for
distinctive understanding and better data. Adaptability refers to the ability to conceive,
create, and execute strategic plans more quickly and effectively.
CONCLUSION
It is concluded from the above report that for a company, the first step is to recognize your
employees' differences and then inspire them to use their unique qualities to become the best
version of themselves. When diversity and inclusion policies are implemented alongside a
Community Acknowledgement® plan, this is most likely to occur. Indeed, Workhuman's own
study reveals that earning recognition fosters a feeling of connectedness and a conviction in the
benefits of diversity.

REFERENCES
Books and Journals
Boncori, I., Sicca, L.M. and Bizjak, D., 2019. Transgender and gender non-conforming people in
the workplace: Direct and invisible discrimination. In Inequality and organizational
practice (pp. 141-160). Palgrave Macmillan, Cham.
Chow, I.H.S., 2018. Cognitive diversity and creativity in teams: the mediating roles of team
learning and inclusion. Chinese Management Studies.
Grissom, A.R., 2018. The alert collector: Workplace diversity and inclusion. Reference & User
Services Quarterly, 57(4), pp.243-247.
Opie, T. and Roberts, L.M., 2017. Do black lives really matter in the workplace? Restorative
justice as a means to reclaim humanity. Equality, Diversity and Inclusion: An
International Journal.
Smith, J., 2017. Perseverance and determination: Lorna Winston-Blanks, president of IMA's
Dallas Fort Worth Area Chapter, discusses the active pursuit of diversity and inclusion in
the workplace. Strategic Finance, 98(8), pp.25-27.
Syed, J. and Ozbilgin, M., 2019. Managing diversity and inclusion: An international perspective.
Sage.
Online
Diversity and inclusion at workplace. 2020.[Online]Available
through:https://coreaxis.com/insights/blog/importance-of-diversity-and-inclusion-in-the-
workplace