Why Celebrating Diversity Matters
May 21, 2020
Posted By: Everise
Diversity in the modern business environment is more than just gender and race; it also includes various personal aspects of employees that goes beyond what they put in their resume. Everise believes in supporting and promoting an inclusive workplace that cultivates growth through diversity. This Cultural Diversity Dialogue and Development Day, we want to build the case that celebrating diversity should matter to all businesses.
1. Diversity Drives Innovation
Respondents from the 2018 Hays Asia Diversity and Inclusion report identified that improved company culture, leadership, and greater innovation were the top three benefits provided by diversity. With over 30 cultures and nationalities across our experience centers, it’s this diversity of thinking that allows us to incubate innovations that solve real client problems – Systematic Insights® is a prime example.
2. Diverse Companies Earn More
According to a Boston Consulting Group study, companies that have diverse management teams acquire 19% higher revenues through innovation. This significant finding shows that diversity is more than just a metric; it is a fundamental part of innovating a business that strives for success.
3. Gender Diversity Improves Performance
A recent Delivering Through Diversity report by McKinsey found that corporations who embrace gender diversity on executive teams were more competitive, and were 21% more likely to experience above-average profitability. Those corporations also had a 27% likelihood of outperforming their peers on longer-term value creation, in addition to having a wider perspective on customer needs, product improvements, and company well-being.
4. Equal Opportunities Create a Positive Impact
Providing equal opportunities in the workplace can create positive working relationships and boost morale. As a company, we believe that everyone has equal opportunities to grow in Everise. We aim to further develop our workforce through the inclusion of our PWD champions.
According to a study by the International Labour Organization, hiring persons with disabilities provides several benefits for companies. It results in a positive impact on a company’s bottom line because persons with disabilities make good, dependable employees. Studies also show that they even perform on par with nondisabled co-workers. They also represent an untapped source of employees who have many skills and traits that employers desire.
5. Age Diversity Promotes Growth
Age diversity provides broader opportunities for innovation when managed effectively. According to a briefing from the SHRM Foundation, age diversity improves performance and productivity. Studies also find that the productivity of both older and younger workers is higher in companies with mixed-age work teams. An age-diverse workforce also provides opportunities for cross-generational mentoring and presents a larger knowledge base for the company. Everise’s age-diverse workforce provides us with unique opportunities to enhance our knowledge base and allow us to further incubate innovation.
Everise’s vision to celebrate diversity is a constant work-in-progress. Our goal is to continue maintaining and nurturing our culture within Everise to transform the company and our people for the better. As a company that celebrates diversity, we will continue to promote the message of an inclusive and diverse culture.
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