Discover the top 5 statistics related to workplace diversity and its benefits!
What is workplace diversity?
Workplace diversity is a term which refers to a company which employs people of varying characteristics, such as gender, age, religion, race, ethnicity, cultural background, sexual orientation, religion, languages, education, abilities, etc.
The importance of workplace diversity
Workplace diversity has many direct and tangible benefits. Employee diversity and inclusion programs are not just nice-to-have HR initiatives – these programs have a direct impact on the company’s bottom line.
Companies with more diverse workplace are not just seen as a more desirable employer, they also outperform competitors and achieve greater profits.
Top 5 workplace diversity statistics
Here is the list of the top 5 statistics related to different benefits of diversity in the workplace:
Workplace diversity statistic #1
- Companies with more diverse workplace make more money.
- Companies that have more diverse management teams have 19% higher revenue.
- Source: Boston Consulting Group (BCG)
Workplace diversity statistic #2
- Workplace diversity leads to innovation.
- Inclusive companies are 1.7 times more likely to be innovation leaders in their market.
- Source: Josh Bersin research
Workplace diversity statistic #3
- Workplace diversity leads to better decision making.
- Diverse teams made a business decision, they outperformed individual decision-makers up to 87% of the time when it comes to making business decisions.
- Source: A white paper from online decision-making platform Cloverpop
Workplace diversity statistic #4
- Workplace diversity generates higher job acceptance rate.
- 67% of job seekers said a diverse workforce is important when considering job offers.
Workplace diversity statistic #5
- Companies with diverse workforce outperform its competitors.
- Racially and ethnically diverse companies outperform industry norms by 35%
- Source: McKinsey
How can you improve your company’s workplace diversity?
Hopefully, these statistics have prompted you to learn how to build and manage workplace diversity in an effective way in your company too!