3 Reasons an Inclusive Company Benefits the Bottom Line

Inclusivity sounds like a great idea, and you’re committed to making it happen in your company.However, not everyone in your organizations agrees that inclusivity is beneficial. Maybe they think that it takes the focus off of the company’s vital objectives. Or, they don’t believe that inclusivity will profit the company.How do you communicate that an inclusive company is not only the right thing to do, it’s also good for the bottom line, as well?Here are three reasons why an inclusive company benefits the bottom line.

1. Improves Communication

One way that an inclusive company benefits the bottom line is that it improves lines of communication.Without inclusivity, people may lose focus of their tasks when faced with microaggressions in the workplace. These might be comments or actions that other coworkers say or do without realizing that they affected communication.For example, employees could spend more time trying to interpret their colleague’s remark to determine whether it was a microaggression or pure ignorance.Employees may avoid interacting with certain people altogether because they don’t want to deal with microaggressions. This avoidance interferes with productivity, and ultimately, the bottom line.

2. Allows for Different Perspectives

Another way that inclusivity is beneficial to the bottom line of a company is that it provides various viewpoints.When a company has a workforce of people with varied experiences and points of view, it enables more sophisticated talent acquisition for the success of the organization.This approach helps a company to see new opportunities for growth, tap into unrealized markets, or refine a product. With a diverse team, you have more skills and abilities ready to pitch in and help support the organization’s momentum.

3. The Data Supports Diversity in the Workplace

A third reason why an inclusive company benefits the bottom line is that research supports diversity.In one study by the Boston Consulting Group, companies with diverse leadership and management teams had 19% more revenue than companies that were not diverse. This report was drawn from a sample size of 1,700 companies spread across eight countries.Another study found that in diverse companies, each employee brought in 2.3 times more revenue than non-diverse companies. Clearly, the data shows that diversity is not only the moral thing to do for a company; it also financially just makes sense.

Diversity and Inclusion Consulting

If you wish to have a more diverse and inclusive company, consider working with a consultant who specializes in these issues. A good consultant is not someone who will breeze through the doorway of your company. Those kinds of consultants tell you how you “should” or “shouldn’t” be doing things, offer mostly surface advice.Instead, a good consultant will collaborate with you to learn as much as possible about your organization and identify areas of improvement. Together, you can develop a tailored plan of action for your company.  This plan empowers you to implement the changes you want and increase diversity.Diversity and inclusion, as well as profit, are not contradictory to one another. Instead, a diverse company means a greater chance of having higher profits and success.—If you want to improve the diversity of your company, you don’t have to do it alone. By working with a diversity, equity, and inclusion consultant who specializes in diversity and inclusion issues, you can make the changes you need. Please reach out to me today for more details on how I can help you as you strive to build a more inclusive and profitable company.