Why I think diversity is important
A diversified workplace includes people with variety across a number of different categories, such as:
Religion, culture, sexual orientation, language, educational backgrounds and skills and abilities. Because of this, embracing the changes related to diversity in the workplace will take any business to great heights. Just imagine you put a variety of individuals in one room, the different perspectives and opinions you will get, which will obviously benefit the business. This will allow the business to grow in a number of ways. This then brings us to the advantages of having a diverse workplace:
The change I’d like to bring about as Managing Director of Atlas Copco India.
- Greater creativity and innovation – A heterogeneous workforce will be able to exchange unique perspectives and spark fresh ideas.
- Increased productivity – Diverse workforce more likely to understand customers’ needs and come up with ideas to fulfill them. Diversity will increase employee morale and instill a desire to be more effective and work more efficiently. This in turn will increase productivity of the business.
- Reduced employee turnover – Diversity and inclusion make employees feel valued and accepted.
- Connect to a wider range of consumers – Hiring individuals of varying backgrounds, languages, etc. will ensure your company appeals to a wider target market. Employees connect with consumers from all walks of life.
- Increased revenues – Research done by Boston Consulting Group found companies with a diverse workforce and increased innovation generated 19% more revenue than companies with lower diversity scores.
Our Group today has a goal to reach a ratio of 30% females by the year 2030. At the end of 2020, our Group achieved 20.0%. Today, in our organization in India we see this ratio at 17.8%. For me as MD, it is imperative that we at least strive to achieve and align these numbers to our Group results. On top of this, hire more diverse people, from more diverse backgrounds, etc. This will bring in more creativity and more innovation and ensure sustainable business growth.