Why creating an inclusive work environment is the best business decision you can make

Though inclusivity is a popular concept these days, it’s worth noting it’s more than just a trendy buzzword. Diversity and inclusion are crucial in giving a business a healthy mix of perspectives and exposing themselves to new ways of thinking. 

Of course, not every business has a healthy balance of different people from different backgrounds working for them. Some businesses may not see the business benefits of going out of their way to inject inclusivity in the workplace, with some even opting to forego it entirely. 

In the article below, however, we’ll be going over why prioritizing inclusivity is one of the best business decisions you can make. 

Inclusivity spurs innovation

When you have people from different backgrounds and experiences, you’re bound to have a mix of ideas. An inclusive environment will make people more comfortable with sharing their ideas, no matter how new. Diversity also forces the consideration of multiple perspectives, encouraging a more complex approach to problems. In the long run, this will help your business innovate and expand, enabling you to offer products/services your competition may not even think of. 

Diversity boosts productivity

A diverse team allows co-workers to learn new skills from one another, encouraging better cooperation within the team. 

Studies have also shown that companies benefit when there is diversity in both upper and lower management. Reportedly, a 1% increase in diversity in upper and lower management increases firm productivity by between $729 and $1590 per employee per year.

Expands the business reach

Globalization is no longer a novelty, it’s the norm. Having team members from a wide array of cultures makes it likelier that they’ll be able to relate to an end-user in another country, a huge asset in fostering relations with another market. 

According to a Harvard Business Review study, when even just one team member has traits in common with an end-user, the entire team better understands the user. Furthermore, a team with someone who shares a client’s ethnicity is 152% more likely to understand the client.

Attract and retain top talent

It may come as a surprise, but many businesses have hiring practices that unintentionally exclude a large swathe of applicants. Having an inclusive team can spot these practices before they take root and encourage a welcoming atmosphere for many applicants.

A study from LinkedIn surveyed nearly 9,000 recruiters and hiring managers from 39 countries and found that about 52% make it a point to use diverse employees in web and print materials and 35% deploy diverse interview panels. 

While some businesses may need help crafting a more inclusive recruitment strategy, the good news is that firms such as Q2 hire specifically with inclusion in mind. We support each individual and take steps to put the Right Person in the Right Seat– or “RPRS”. By doing this, we also provide safe spaces for all members of the workforce to be their best selves, no matter what their background may be.

Overall, inclusive work environments are not only better for employees but also directly contribute to a business's bottom line. With the wide range of resources and solutions out there ready to help businesses fuse inclusion into the workplace, there is simply no excuse for falling behind. In the future of business, inclusion isn’t want—it’s an absolute must-have.