Businesses all over the world have realized the power held by a diverse team in an organization. But, many in India, are still struggling to find the right strategy or the right team to make their businesses successful.
Diversity – whether ethnic, cultural, or gender-based – can do wonders for an organization. It opens up a pool of new talent, new opportunities and point of views. It also provides almost perfect solutions to your target audiences – no matter how different. That is the beauty and power of diversity. It allows people from different backgrounds to come together and create something beautiful. This is one of the reasons why coworking spaces have become so successful and widely accepted around the world. At 91 Springboard, we celebrate the power of diversity and that’s reflected in all of our coworking spaces in India. Right from our internal team culture to the partners we work with, and even our members at various hubs across India, all our office spaces are designed to embrace and promote the power of diversity.
Research shows that diversity can also do wonders for your business financially. According to McKinsey’s Delivery Through Diversity report, diverse teams can improve the overall performance (and success) of an organization. It also states that companies with the most ethnically diverse teams perform 33% better than their counterparts. The reason is simple – people from different backgrounds cite diverse viewpoints to the overall process.
Let’s talk about how you can use the power of diversity to make your company successful:
1. Empower and Educate Top Management
A leader can make or break the team. And inclusive leaders make teams successful. Apart from being an inclusive leader yourself, you must ensure that your upper management is trained to build and lead a team that is innovative, creative, different and highly productive – irrespective of their race, class, religion or gender. A team’s diversity, when fully tapped, is not only productive and successful but also a positive sign for the future of the organization. The coming together of people of different ethnicities and different experiences can foster innovation which can boost your company’s growth.
2. Mentorship Programs
Creating mentorship programs to enhance interpersonal skills of a team in the organization is vital for your company’s growth. Such programs will not just improve your employee’s skill sets and confidence level but also give them a chance to interact and collaborate with people who are different than them. Through effective mentorship programs, you can ensure that learning and growth become an integral part of the overall company culture.
3. Making Diversity centric HR Policies
HR policies are something everyone loves and dreads. These policies are also critical in determining how inclusive an organization is. By creating diverse HR policies, you can promote the culture of inclusivity and ensure that all your employees feel that they are a part of the organization beyond the work they’ve been hired to do. Start from the very beginning stage of an employees’ journey with your company and incorporate inclusivity at every step – when promoting job opportunities, when hiring for positions, when on-boarding employees to later stages of defining holidays or occasions observed within the organization.
4. Create diverse engagement exposures
To build a diverse workplace, you must create opportunities where your employees are exposed to people from different backgrounds than their own. Promote interactions across teams and encourage collaborations between workgroups. This can bring a change in the way people perceive risks, problems and inspire them to come up with innovative solutions. Such engagement activities create space for a variety of different perspectives based on people’s diverse experiences. They not only help cultivate a unique experience for everyone but also lead to better professional and personal connections. This is one of the reasons why coworking spaces are so successful at what they do. They provide a platform for diverse minds to come together, engage in conversations, share ideas and collaborate to create meaningful work. At 91springboard, we pride ourselves in being a coworking space that not just embraces diversity but constantly conducts engagement activities where every member of our community can participate, interact and feel like they truly belong.
5. Personality matching
Another way to harness the power of diversity to boost your business is by matching the different kinds of personalities in your existing workforce. When an introvert and an extrovert come together, the result is often nothing less than brilliant. Selecting the right personality combination for your teams is difficult, sure. But when your employees are in a collaborative office space, you know you can always find someone that suits you (and your organization). By choosing a diverse team, with the right skills and experience, you can provide your company with innovative solutions for all problems.
6. Proactive management
True diversity at the workplace goes far beyond just checking a box or giving a nod to affirmative action. While the journey of developing an inclusive work culture starts with you, it’s a mindset that needs to touch every aspect of the company. Let the responsibility of embracing a diverse culture move beyond top management and into teams. This would require managers to be active and openly discuss the issue and its significance to the organization. Proactive management can go a long way in creating a culture of diversity and inclusivity. Research also shows proactive management who understands and embraces diversity can help your business retain employees and grow financially.
7. Thoughtful communication
Thoughtful communication is key to inclusive organizations. While handling a diverse team, it is extremely important that communication addressing the employees is thoughtful, polite and inclusive. Being culturally aware and sensitive is crucial, and so is monitoring internal communication to avoid any misunderstandings.
Diversity in an organization is essential, especially in the 21st century. A culturally and gender-diverse team can offer a lot more to your business than you think. Diverse workforces are stronger, better and more adaptable to new trends – with sharper, more innovative ideas. Studies also show that millennials are more than ever opting to work with organizations that have diverse teams and an inclusive culture. According to Forbes, by 2025, millennials will account for as much as 75% of the workforce. By adopting diverse workplace programs and ensuring your company is fostering the culture of inclusivity, you can become the company every millennial wants to work for!
What are you waiting for? Utilize the power of diversity and help your business reach new heights!