Benefits of Gender Diversity in the Workplace
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Gender diversity in the workplace has become one of the most debated topics in today’s world. It can be a determining factor for certain job seekers to know if they really want to work for that company or not. However, many other factors make gender diversity as beneficial as cultural diversity in the workplace. Even if it’s one of the most discussed topics as of now, it is still unknown grounds for many people out there.
Although we've come a long way when it comes to women's rights and equal labor, there is still plenty of work to do. Statistics say that even if 50% of the working-age population is made of women, they only generate 47% of global GDP.
Gender parity has been a notable problem for a few decades. However, with every advancement we make, it feels like we're taking two steps forwards and one step backward.
With the rise of gender diversity outside the binary, this issue becomes hugely important, especially with the shortage of workers that is currently happening in big countries like the US. If you're still not sure of how gender diversity can help your business, this article is for you.
Gender Diversity Meaning
Before we start talking about the benefits, let's start clearing up the basics: what is gender diversity in the workplace, and why is it important?
The concept is fairly easy. Gender diversity in the workplace is all about the inclusion of people with different gender identities within the workplace. Here we're not only talking about "men and women," but we also include non-binary identities.
Of course, it’s complicated to enjoy the benefits of a diverse workplace without proper rules. There are a few key elements to consider:
- Companies that would like to promote gender diversity management should also encourage respectful communication. More than that, it is hugely important for those in managerial positions to make sure that the workplace is a safe environment for women, Trans folks, and people outside the gender binary.
- If your company doesn’t have one or if you find its points too shallow, perhaps you should work on a different and enhanced anti-bullying/anti-harassment policy.
- Take some time to make a study of your company to determine if unconscious bias exists within its processes.
- Last but not least, analyze if the power balance is even as well. How diverse are the executive or management roles within your company?
As you may have assumed from this section, the issue is more complicated than just hiring more women and non-binary people. It’s also about encouraging them to unleash their potential and empowering them to do so as well.
With that being said, now let’s discuss how promoting gender diversity in the workplace can be beneficial for your business.
Gender Diversity Benefits: How Being Inclusive Can Improve Your Business
1. Access to more suitable candidates
You’d be surprised by the number of talented individuals you’re missing out for not promoting a gender-diverse workplace. Women make half of the population, which means that encouraging them to join your company can make a huge difference.
2. Easier access to resources
Here is another benefit of a diverse workforce. Another point to take into account is that gender-diverse workplaces find it less complicated to access determined resources, such as information and credit sources. Plus, by encouraging diverse individuals to join your workforce, you will have access to broader industry knowledge.
3. Enhanced teamwork
Next up, women are one of the most important reasons why teamwork is important in the workplace. According to research, women have a strong ability to read non-verbal cues. In addition, the same study found out that teams that included more women in their talent pool experienced higher engagement levels than other groups. This means that you can have multiple creative individuals exchanging ideas at the same time.
4. Staff retention
Studies have found out that workplaces that encourage work diversity find it easier to retain talent. After all, all companies would like to decrease their employee turnover rate, and a more inclusive approach can help you achieve those goals in the long term.
Gender diversity boosts employee morale while also putting more opportunities for different individuals at their disposal.
5. See your business from different points of view
Unlike workplaces where men are the most prominent collaborators, inclusive workplaces have a better understanding of the industry – and the world in general – as all those individuals have different experiences in the same niche. As you’ll be able to observe your business from different eyes, it will also be easier for you to promote creativity and innovation within the workforce.
If you’re thinking of a future rebrand, this point could also be a great opportunity to turn your corporate identity into a more inclusive choice.
6. More profitability
MSCI has reported that the presence of women within a workplace is beneficial for productivity. On the other hand, a Forbes study found out that companies that promote a gender-diverse work culture have 21% more probabilities of experiencing above-average profitability.
Achieving a gender-inclusive workplace is quite complicated and takes several steps. Thus, you should consider it a long-term goal instead of something you can achieve overnight. Gender problems will continue to exist in the years to come, but contributing to a world with more equity can help your business grow even bigger.
If you’d like to start promoting gender diversity in the workplace, a good place to start is by training your company’s communication skills in management. It is important for leaders to learn how to express themselves and how they refer to other people, especially if you will expand your talent pool with individuals with diverse identities.
In the end, all the efforts you make to make your workplace a better place for anyone will be worth it. Your business will not only be more prone to innovation, but you will also enjoy many other financial-related benefits that you didn’t know your company would be able to achieve.
It's never too late to start a change, and even if it takes a long while, you'll see how everything turns out to be positive in due time.
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