Global businesses face a number of challenges. As with anything on such a large scale with many moving parts, this is expected. One such area where many international businesses may struggle to strike the ideal balance is the Diversity is no longer a buzzword or a popular trend that businesses need to fall in line with. Businesses that currently don’t have diversity goals and policies are falling behind the curve in more ways than one. Apart from projecting a positive image that is both inclusive and celebratory, there are many benefits to individuals, communities, and businesses when they prioritise diversity. As global mobility experts, we understand the importance of diverse teams and how they can take businesses from strength to strength when it comes to global talent management.
What is Workplace Diversity?
When a business is diverse, this essentially means that they accept and include employees from all sorts of backgrounds. These backgrounds can be cultural or racial differences, gender, sexual orientation, religion, and so on. It also means that everyone is able to contribute in their own unique way, calling on their individual perspective, and that openness is protected.
Benefits of Diversity for Global Talent Management
Ensuring your business embraces diversity certainly benefits your people, but it can also make your organisation significantly stronger. While some of these benefits may have already occurred to you, you might find some to be surprising.
Any business that wants to grow and succeed needs to make sure that they are attracting the right talent to help them do so. For businesses that don’t make it evident that they value having a varied and diverse team, this could shrink the talent pool from which they can seek new hires. When a business embraces all backgrounds, they are more likely to find the perfect fit for the roles they are trying to fill.
In addition, having a team of talented individuals across multiple backgrounds means that you’ll nurture an inclusive, empathetic and welcoming team with all avenues of life experience. This makes your organisation stronger and allows you to tackle any challenges as a whole, depending on the experience and problem-solving skills of various members.
This is especially valuable for global businesses. Cultural differences across the world can vary greatly, so having a diverse team in all your locations, consisting of both local and global hires, can help the teams perform and settle in better.
Stronger Connection with Customers
People like to support businesses they can identify with. By having a diverse team, your business can appeal to a wider base of customers, coming from varied demographics and backgrounds. If your team predominantly looks one way or comes from the same sort of background, you could be ruling out entire demographics.
The more creative heads you get together, the better. People who are like-minded can bounce off of one another’s ideas and build up some incredible innovations. However, by throwing people from all walks of life into the mix, you will often find that creativity can elevate to the next level. People from different backgrounds can add a distinct and interesting element into the mix, and this enables productive and constructive challenges to take place when brain mapping or carrying out innovations.
Increased Productivity and Turnover
A diverse team tends to cultivate a happier team. When employees are happy, their productivity levels increase. When your business is more productive, turnover is typically positively affected as well. All businesses can benefit from a happier team (there’s no such thing as a team that’s too happy!) as well as a higher turnover.
Find out more about how we can support your global business. Get in touch with us today.