Companies need to diversify to remain competitive in today’s global economic system. The benefits of a diverse workforce go beyond political correctness. Engaging people with diverse backgrounds and perspectives can lead to more effective decision-making, more innovation, and more active participation in the workplace. It can also improve its reputation and make it easier to attract the best specialists. A diverse staff can offer fresh, new ideas and promote innovation. Companies that support diversity and inclusivity report higher levels of engagement, lower turnover, and increased profits.
A diverse workforce employs people of different ages, races, genders, languages, and cultural backgrounds. For example, in 2017, women made up almost half of the U.S. workforce, but they are still underrepresented in high-paying fields (Robin & David, 2020). Companies need to consider diversity to stay relevant and thrive in an ever-changing market. Having a diverse workforce can improve a company’s ability to compete globally and strengthen its brand. Additionally, such a measure will help understand specific markets better, attract talented people and reduce staff turnover. Employees with different experiences can share fresh perspectives, which will lead to the development of creativity and innovation.
However, a diverse workforce has several significant drawbacks that are not immediately noticeable. Firstly, it can lead to creating an unhealthy environment in the workplace due to excessive multiculturalism. This aspect can make the company’s work ineffective because employees inside the enterprises will no longer understand each other (Robin & David, 2020). In the case of promotion or dismissal of any employees, this may cause racial or cultural conflict. Secondly, the deliberate desire to hire a diverse workforce can be a manifestation of discrimination and a violation of labor legislation, depriving everyone of equal access to work. Hiring an employee because of skin color, religion, and gender, and not for his professional qualities, just because “it’s accepted,” and not because of his own beliefs, will fail the company. Multiculturalism may affect the quality of the product and services that the company provides on the market. It is very important to approach the selection of a diverse workforce with full responsibility.
Robin, J. E., & David, A. T. (2020). Getting serious about diversity. Harvard Business Review, 98(6), 114-122.