Diversity is a Competitive Advantage
Many managers debate whether cultural diversity provides a competitive advantage in the workplace.
Businesses aware of this issue ensure that diversity initiatives become part of a critical curriculum that addresses competitive advantages over competitors. One study stated that companies with strong diversity practices collectively generated 18% greater productivity than the U.S economy overall. Thus, diversity progress may enhance productivity through effective good leadership and management practices.
Marita Baragli, Diversity Manager for the Department of Human Services stated that “Diversity issues must align with a company’s strategic intent in order to implement cultural competencies to create value.”
Creating training programs and equal opportunity programs are essential in illuminating the value that diversity can bring into an organization. Cultivating a manageable workforce is not easy if systems are not put in place to deal with these cultural exchanges. Even as affirmative action organizations continue to make this issue a priority in the northwest, glass ceilings will continue in these organizations because the legal environment is transparent.
Diversity brings in new, creative, and dynamic ideas that can raise a company to the next level. Initiating diversity goals can help businesses attain a better return on their human capital. Languages, personal characteristics, and cultural values are some key dimensions that can create possibilities for future success.
Understanding that companies from all industries are consistently adapting to global changes that are affected by business, political, and other factors is important. Diversity initiatives in successful companies such as Microsoft and Google have shown that they can help attract and engage the best qualified and brightest employees, bringing a greater level of service to new and existing clients. Developing these processes and maintaining them will help managers understand the flexible systems that can be put in place to achieve future success.
Viewing diversity as a competitive advantage can initiate hybrid networks with diverse professionals to focus on long term strategy and making community connections.
A great way to recruit these professionals into businesses is by tapping the college market. Successful businesses have defined diversity in their work environment as a return on investments, set goals, and have measured the progress to help them establish other strategies in creating the value of diversity into their workplace.
There are many drivers that move diversity in critical roles in a company’s mission. Understanding these drivers will help future companies become successful in creating a diverse and engaged internal workforce and increase sales and profits through their external clients.