Diversity and the bottom line

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Your human resources department can manage a diverse workforce that will benefit the entire company. Proponents of creating a diverse workforce generally cite studies that show greater profitability for businesses that embrace diversity. Diversity management is a challenge for your human resources department; however, the overall benefits of a diverse workforce can improve your company's worth.

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Help us improve our site by taking this survey. Take the survey. And while several high-profile companies like Google are openly trying to diversify their employee demographics, the conversation is focused more on the how than the why.

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With a strong belief that all companies must embrace diversity, Torin Ellis has been a top diversity recruiter for the past 17 years. There are a variety of reasons. From the corporate side, they tend to hire in networks they are familiar with or schools they have attended.

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Close panel. Press Enter. Business giants like Nike and Cisco are making significant investments in diversity efforts.

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Login or Subscribe Newsletter. Abby Abazorius Email: abbya mit. Media can only be downloaded from the desktop version of this website.

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But more and more evidence suggests that diverse teams are actually better at reaching their goals. A recently published study looked at the performance of teams in eSports—competitive videogaming broadcast to the world through Internet and television streams—to understand the impact of team diversity on outcomes. Once relegated to the fringes of the sports world, eSports is now a growing worldwide phenomenon.

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Diversity is important, but it should not be seen as an end goal. Leveraging and implementing what the results of that policy bring, we can truly begin to see the business value of diversity. Here are some examples of how diversifying your workforce can benefit your organisation:.

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Better Decisions The more diverse a team is, the more likely it is to make the best business decision. Logically, this makes sense, since multiple perspectives are considered this way — and groupthink can be avoided. There have been various studies on decision-making that show this, but one compelling example highlighted by Forbes covers business decisions made by different teams over a two year span.

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Diversity is a something we all come in contact with in our daily lives and we seek diversity because we as individuals have different tastes, preferences, ideas, and dreams. It is from this diversity that our whole world is shaped and created. All those businesses exist because we as humans are seeking fresh and unique experiences.

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The Leadership Insiders network is an online community where the most thoughtful and influential people in business contribute answers to timely questions about careers and leadership. When it comes to corporate diversity, we face hidden obstacles not only externally, but also inside ourselves. I was recently boarding a plane to speak at a conference in San Francisco and was immediately greeted by a female pilot.


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