Why worry about workforce diversity?

If the goal is to hire and retain the best and brightest workers, an organization must be able to manage an increasingly diverse group of people. The company that properly does this stands to create a richer work environment, with improved decision-making because opinions are drawn from a wider variety of viewpoints.

There is a relationship between customers and diversity. The relationships a company has with its customers are established through individual employees. Thus each employee becomes an important link to determining customer expectations and delivering increased value. This link will become stronger if a company has satisfied, committed and productive employees. Further, with increasing diversity in the global marketplace of potential customers, the likelihood of customer loyalty increases with a diverse workforce. Customer loyalty can be measured by customer retention, repeat sales and referrals. Loyal customers lead to increased revenues and profits.

The business case for diversity in the workplace is simple: It can lead to increased revenues and profits. In short, diversity drives employee satisfaction, which drives customer satisfaction, which drives profits.

Reprinted with permission. © CCH