Great minds don’t always think alike:
Why diversity of thought is important in any organization
As investing in Environment, Social and Corporate Governance (ESG) becomes increasingly popular, companies who don’t prioritize diversity in the workplace run the risk of losing employees, customers and investors. It is therefore important that companies focus on ensuring that there is diversity in areas such as gender, ethnicity, age, sexual orientation and socio-economic background.
The only commonality that is truly important amongst an organization’s employees is that of their values. As long as there is a set of core values that all employees have in common which aligns with the company’s values, diversity in all other aspects can be considered.
Although companies may feel forced into being more diverse, it does have proven advantages. The main benefits of diversity in the workplace lie in diversity of thought. A diverse workforce brings with it a wide range of mindsets, thought processes, and perspectives, broadening the range of perspectives within the organization. Having a wide range of perspectives can assist an organization with dealing with problems and attaining optimal results.
Diversity of thought can also contribute towards organizational growth. Some employees may tackle growth with a more strategic mindset. Some may take a more analytical approach whilst others may be more considerate of interpersonal factors. When many different perspectives have been considered, a company has the highest chance of growth.
Additionally, diversity of thought encourages a healthy competitive environment where employees feel safe and confident enough to share different thoughts and ideas. It shows employees that they can express their thoughts freely and safely in an environment free from discrimination.
Finally, investing in diversity of thought also adds value to an organization. Just like profit and productivity levels, diversity adds value by making employees feel valued – which in turn contributes towards higher employee retention rates and a great company reputation.