McKinseyandCompany founds that gender-diverse companies are 15% more likely to outperform their peers and ethnically-diverse companies are 35% more likely to do the same. This information was a true turning point when it came to helping a company grow and develop into one that could thrive in terms of productivity and sales. It’s obvious that diversity matters and that there are federal laws that prohibit a company from not hiring someone based on their ethnic background, gender, and other factors that are an innate part of someone’s identity. However, many companies have not necessarily considered just how wonderful these benefits can be for a company. Good HR executive search firms understand this aspect of hiring, and will make every effort to try and help you create a more diverse, and powerful, company.
Working in a diverse environment helps your entire company from the bottom up. It helps everyone become more adaptable and understanding and actually improves productivity. Having a more diverse staff is a differentiatior in the marketplace, and top HR executive search firms understand this. What are the benefits of a more diverse staff? Let’s take a more in-depth look.
1. It improves adaptability and overall tolerance of all employees
Having a workforce that is more diverse in terms of culture, sexual orientation, gender, and ability means that employees will becoming more accepting when learning to collaborate with others who are not like them. Being exposed to new languages, new cultures, and new ways of seeing the world help make employees more well-rounded. They learn to adapt to change and may even change the perspective or what a workplace should look like. It teaches employees not to judge others based on factors like race, gender, or sexual orientation. These factors are not tied to someone’s ability, and in fact, research has shown that, according to McKinseyandCompany, “Companies in the top quartile for racial and ethnic diversity are 35 percent more likely to have financial returns above their respective national industry medians.”
2. It simply makes your company more productive
According to McKinsey’s research, “Companies in the top quartile for gender diversity are 15 percent more likely to have financial returns above their respective national industry medians.” The organization also found that in the U.S., there is a linear relationship between racial diversity and better earnings, especially when it came to the senior-executive team.
3. It can make your company more innovative
Research shows that there is definitely a positive correlation between diversity and financial gains in a company, but there is also plenty of research that shows having a diverse workforce lends itself to more innovation. If you think about it, you are bringing in people to your company who comes from a wide range of backgrounds, and have different ways of thinking, which means your company is encouraging more “out of the box” thinking when it comes to problem solving and creativity.
HR executive search firms play large role in helping you acquire more diverse professionals for your company.