Why Diversity in the Workplace so Crucial

Why is Diversity in the Workplace so Crucial?
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Why is Diversity in the Workplace so Crucial?
Introduction
Diversity at The Spruill Company entails ensuring that the workforce comprises people with various characteristics, including genders, races, ethnicities, educations, sexual orientations, ages, religions, and other attributes. Instead of having workers from similar backgrounds, the Spruill Company is committed to creating diverse workplaces by employing people from all walks of life and amplifying voices from across the organization. The Spruill Company creates an inclusive environment by accepting each worker’s differences, enabling workers to realize their optimal productivity levels to ensure that business reaches its fullest potential. This paper evaluates the importance and benefits of implementing diversity at The Spruill Company and the approaches managers can apply to promote the practice. Diversity enhances innovation and business performance, boosts brand reputation, fosters quality of decisions, and improves workplace employee trust and engagement. Approaches to promote diversity include using human resource tools to evaluate diversity performance and making inclusivity central to the hiring processes.
Importance of Diversity in the Workplace
A diverse workplace is a win-win for both the business and its employees. Diversity contributes to a myriad of desirable business outcomes, including increased creativity and innovation. When the company brings together individuals with different approaches and perspectives, it creates a pool of fresh and increasingly innovative ideas to develop cutting-edge breakthroughs and concepts. Inclusive businesses are also increasingly profitable and record higher revenues (Schreiber-Shearer, 2021). A recent report indicated that firms with more diverse management teams record 19 percent more revenues, particularly employees’ innovation and creativity (Powers, 2018). This finding is significant for tech firms, start-ups, and the sector where innovation is the primary determinant of growth (Farmanesh et al., 2020). As a family-owned business seeking growth and sustainability, The Spruill Company should make diversity integral to the revenue-generating endeavor. This is crucial because diversity implies inclusivity in ideas, approaches, and minds – which encourage teams to find solutions by considering different dimensions, thus making the solution more robust, optimized, and well-rounded (Powers, 2018; Thatch, 2021). The figure below emphasizes that companies with diverse teams record higher innovation revenues.
Figure 1: Innovation Revenues due to Diversity (Lorenzo & Reeves, 2018).
Diversity contributes to better public perception of the brand. It dramatically enhances how the organization is viewed and perceived, thus shaping the brand. The Spruill Company has obtained a reputation within the business community. It is a respected brand for its capacity to deliver on its promise. The company’s reputation drives the business, thus allowing it to thrive even within minimal marketing. In this way, it is not enough to have diversi...