All In, All Together

A diverse workforce can not only bring above-average profits to the organisation but also help in value creation.

- Jayati Roy

An organisation crafts its growth through the success of its employees, and the first step towards promoting employee well-being is to create a diverse and inclusive workspace.

The concept of HR management was incepted in the 19th century. The idea that workers need to be suitably compensated, not just financially but also at a more intrinsic level, forms the core of the HR principle. In the past couple of years, organisational strategies, C-suite discussions, and annual reports have begun focusing on diversity and inclusion in the workspace. According to a 2018 Gallup report, diversity is ‘the full spectrum of human differences’, including visible traits like age, gender, disability, and ethnic background, or invisible traits such as socioeconomic status, marital status, and sexual orientation.

While talk of diversity is not new, the concept has percolated deeply, with more individuals and organisations speaking about feminism, immigration, gender identity, and the gender and racial pay gap. Many studies show that the more diverse a workplace is, the more success it achieves, and organisations are now looking to learn about increasing and managing diversity.

The case for diversity

Diversity signifies accepting a multiplicity of viewpoints and cultures—these propel innovation, better decision-making, and improved employee productivity and retention, leading to enhanced customer service. Considering the unique skill sets and capabilities that diverse teams bring to a company, the members can come together to share their experience, creating something greater than the sum of their parts.

There are several different motivating factors when it comes to the adoption of diversity and inclusivity strategies, financial performance being among the major drivers. According to a McKinsey analysis report,