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Why Diversity Matters in Your Workplace -- and How to Achieve It

Why diversity matters.

Why diversity matters.

Diverse Companies with a wide range of employees enjoy broader skill sets, experiences, and points of view.

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Why Diversity Matters in Your Workplace -- and How to Achieve It

Why Diversity Matters in Your Workplace -- and How to Achieve It

https://www.inc.com/rhett-power/why-diversity-matters-in-your-workplace-how-to-achieve-it.html

inc.com

2

Key Ideas

Why diversity matters.

Diverse Companies with a wide range of employees enjoy broader skill sets, experiences, and points of view.

How to Increase Diversity and Boost Performance

  • Develop an equal opportunity policy.
  • Be transparent about hiring criteria.

  • Improve retention of minority workers.

  • Analyze problems and adapt. Train managers to spot their biases and avoid communicating in ways that unconsciously deter minority candidates.

  • Implement workplace flexibility.

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Diversity & Inclusion
Diversity & Inclusion

There is a significant relationship between competitive profit gains and diversity.

Companies with gender, ethnic and racial diversity are at least 15 percent more likely to experience...

5 Lessons for Managing D&I
  • Recognize the Shift in Global Understanding of D&I.  Diverse thinkers come from a variety of different backgrounds.
  • Build an Inclusive Environment. All people are encouraged to draw upon their unique experiences, perspectives and backgrounds to advance business goals.
  • Use Multiple Practices and Measures.  Have solutions in place to monitor and retain a talented and diverse workforce.
  • Ensure Leaders Model Diversity and Inclusion. It sets the tone for the rest of the organization to follow suit.
  • Recognize the Connection Between Innovation and D&I. Diversity and inclusion increase innovation and reduce business risk.

Cognitive Diversity

The concept of cognitive diversity focuses on diversity of thinking and is composed of four dimensions:

  • Perspectives. People represent situations in different ways
  • Interpretations. Through diverse interpretations, teams can discover multiple resolutions.
  • Heuristics. People resolve issues in different ways.
  • Predictive models. Some analyze, and others look for a story. Both are useful for discovering workplace solutions.
Fewer decision-making errors

Curiosity leads us to generate alternatives.

When our curiosity is triggered, we are less likely to fall prey to confirmation bias (looking for information that supports our bel...

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Encouraging people to be curious generates workplace improvements

When we are curious, we view tough situations more creatively. Studies have found that curiosity is associated with less defensive reactions to stress and less aggressive reactions to provocation. 

Reduced group conflict

Curiosity encourages members of a group to put themselves in one another’s shoes and take an interest in one another’s ideas rather than focus only on their own perspective. Thus, conflicts are less heated, and groups achieve better results.

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How leaders cope with uncertainty

Uncertainty is always there. The degree of uncertainty can rise and fall.

Leaders, being human, also have difficulty coping with uncertainty. When they receive confusing information, they te...

Heuristics during periods of uncertainty

During periods of heightened uncertainty, leaders reflexively reduce investment, stop hiring, slash marketing, refrain from entering new markets, or stop making decisions.

Although understandable, acting in a pro-cyclical manner can be counterproductive. It can leave companies poorly positioned to benefit from the next stage of the cycle.

Attributes to succeed in uncertainty

Organizations should be inclined toward action. As a baseline, companies must strive to be fit for growth. This can be done by aligning costs with priorities and strategy, investing in varied capabilities, and using traditional and digital levers to execute.

They must regularly engage in scenario planning with an array of options. They must build the capacity to be agile. They must learn to become more resilient to withstand strong external forces and quickly recover from setbacks.

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