Diversity in the workplace means employing people of different cultural backgrounds, ages, races, genders, disabilities, religions, sexual orientations, and levels of professional experience. The UAE is home to a culturally diverse society, with expatriates from over 190 countries making up more than 80% of the population.
Benefits of Diversity for Employers
Employers who embrace diversity in the workplace can enjoy several advantages, such as:
– Better opportunities for creativity and problem-solving: A diverse workforce brings a wide variety of people with different experiences, skills, perspectives, and insights together to solve problems. This can lead to more innovative and effective solutions that meet the needs of customers and stakeholders.
– Smarter decision-making: A diverse workforce can provide more information, opinions, and feedback that can help managers and leaders make informed and balanced decisions. Research shows that diverse teams make better decisions 87% of the time compared to individual decision-makers.
– An increase in profits and productivity: A diverse workforce can boost the bottom line of a business by increasing its market share, customer satisfaction, and loyalty. Studies show that companies with a diverse workforce are 35% more likely to experience greater financial returns than their respective non-diverse counterparts. Moreover, a diverse workforce can enhance the efficiency and performance of employees by fostering a positive and supportive work environment.
– Reduced rates of employee turnover: A diverse workforce can reduce the costs and risks associated with employee turnover by attracting and retaining talent from different backgrounds. Employees who are part of diverse teams are more likely to find satisfaction in their careers and expand their professional networks. They are also more loyal and inclined to stay longer at companies where their unique contributions are recognized and respected.
– Improved reputation for your business: A diverse workforce can improve the image and reputation of a business by demonstrating its commitment to social responsibility, inclusion, and equality. A diverse workforce can also help a business gain a competitive edge in the global market by appealing to a wider range of customers, partners, and investors.
Benefits of Diversity for employees
Employees who work in a diverse workplace can also benefit from several opportunities, such as:
– Learning and development: Working with people from different backgrounds can provide employees with valuable learning opportunities that can enhance their knowledge, skills, and competencies. Employees can learn from each other’s experiences, perspectives, and best practices, as well as gain exposure to different cultures, languages, and customs.
– Career growth and advancement: Working in a diverse workplace can offer employees more career options and possibilities by opening new doors and networks. Employees can access more resources, mentors, and role models that can help them achieve their professional goals. They can also showcase their talents and potential to a wider audience and gain recognition for their achievements.
– Personal growth and fulfillment: Working in a diverse workplace can enrich employees’ personal lives by broadening their horizons and perspectives. Employees can develop a deeper understanding and appreciation of themselves and others, as well as cultivate empathy, respect, and tolerance. They can also discover new interests, hobbies, and passions that can add meaning and joy to their lives.
Enroll for an MBA program at the Britts Imperial University College. Call +971 522161783
Leave a Reply