Workplace diversity is much more than just a buzzword – it’s a major factor of success in the modern business landscape. To be profitable in a diverse, globalized marketplace, savvy businesses are making efforts to look more like the community around them.

It’s not just about building a diverse workforce, however. To truly benefit from the advantages diversity in the workplace offers, it’s important to realize diversity’s many strong points and how they can help your organization grow.

Here are just a few of the top benefits of diversity in the workplace.

VARIED KNOWLEDGE AND EXPERIENCE

Individuals from diverse backgrounds can offer a variety of different talents, skills, and experiences that may be of benefit to the organization and their work performance. Though some crossover of skills can be beneficial when it comes to assisting each other, it’s important to hire people with the appropriate skills to fit each of the roles within the company. A variety of skills and experiences among the team also means that employees can learn from each other.

CUTTING-EDGE COMPETITIVENESS

Language barriers and cultural differences can often act as a bit of an obstacle for a company who wants to expand their business into new international (and even local) markets. Hire individuals who understand cross-cultural marketing and speak across language barriers. Employee diversity greatly increases your ability to rise above the competition.

ATTRACT (AND KEEP) TOP TALENT

When workers know you value both talent and diversity, they want to be a part of your success. Naturally, as the number of applicants for each vacancy rises, the chances of finding an exceptional candidate increases, too! It can also help with employee retention, as people want to work in an environment that is accepting of all backgrounds and promotes equality.

A CULTURE OF INNOVATION

By supporting inclusiveness in your business, you foster attitudes that help eliminate cultural tunnel vision. When businesses employ people of different backgrounds and experiences, creative concepts are born from bouncing ideas off of each other and offering feedback and suggestions. Whereas one person may be great at generating exciting, out of the box ideas, another individual may have the required experience to implement it.

EMPLOYEE PERFORMANCE

Employees are more likely to feel comfortable and happy in an environment where inclusivity is a priority. Equality in the workplace is important for encouraging workers from all backgrounds to feel confident in their ability and achieve their best. The higher the team morale, the more productive employees are.

A STRONGER COMPANY CULTURE

Bringing together diverse individuals pools their strengths into a common company culture. Employees value the confidence and trust that you put into each one of them every day. That diverse group becomes a powerful team with a commitment to doing their best and securing company success.