Diversity can bring a spread of the latest perspectives and experiences to the leadership team. It can help companies boom by boosting innovation and revenue along with attracting and retaining talent. A lot of companies are now focusing on not only making their teams diverse in terms of race, ethnicity, gender, sexual orientation, life experience, etc but also focusing on diversity at all levels, majorly with their leadership. A diverse workplace begins with a diverse leadership team.
But one thing to keep in mind that there is no “Perfect Diversity Quota” which is a mandate to achieve as a goal for your company. You also shouldn’t start dismissing good people just for the sake of diversity. There is no such checklist of genders, religions, abilities, sexual orientations, etc which you can simply tick off and make decisions.
Instead of that you can think broadly and open your mind while making decisions for your leadership team. Try to hire people who will bring in new standpoints in your business and will connect personally with a wide range of your employees.
Now I will be discussing some of the Importance of a Diverse Leadership Team –
In some studies (Gallup & McKinsey & Company) etc have shown that how diverse a business performs better than an average business. There are certain factors that help in the enhanced performance –
* Diverse leadership teams have a broader experience and more unique points of view which helps them in finding solutions to any problems and also comes up with new ideas to make sure the same problem doesn’t repeat.
* It motivates employees to stay longer in a business and they focus on the work in the goal for promotion when they see their leaders with immense knowledge and power, who once started with their position.
* Having a diversified team not only helps to boost the business performance but you will also find it easy to attract new and great talent because more high-performing people will be interested to work with you.
* It also helps to boost up your networking opportunities as people from different backgrounds and groups often bring unique connections which can help your business to spread and grow.
Diversification is very important for your staff too. Imagine a situation where a female employee is only seeing that all the leadership positions are only occupied by men or being from a minority group where all the managers belong to only upper classes really have a negative impact on them. If your company doesn’t have a role model for your company it’s really hard to make other staff feel motivated and encouraged.
A company might have a Diversity and Inclusion Strategy, but that doesn’t reflect in their hiring and promotion strategy. For example, if there are certain category of people who only represents the lower levels in the business hierarchy and certain categories of people who are being promoted. This kind of diversification is similar to not having a Diverse Leadership Team.
Rather than you must all category people and select leaders based on their capabilities and work, this, in turn, will motivate all the staffs equally to give their best to stick around and apply for those promotions. Seeing a leader who is having a crucial part in your business and have been in that position without any discrimination, shares a crucial part in retaining staff, satisfaction, and increase in productivity.
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