What benefits does EDI bring?
While DEI should be a prerequisite in talent acquisition in every organisation, the business benefits are manifold:
Higher profit margins
While corporate bottom lines shouldn't be a reason for nurturing a diverse workforce, it's an undeniable truth: those businesses who are proven to have a healthy diversity record also have higher profit margins. In fact, a recent study in the Harvard Business Review found that companies with above-average total diversity have 19% higher innovation revenues and 9% higher EBIT margins, on average
Optimized performance
A report from Deloitte saw that those companies that had a strong history of maintaining a diverse, equitable, and inclusive workforce were twice as likely to meet or exceed their financial targets. The study also saw that they were eight times more likely to achieve better business outcomes. This positivity impacts employee sentiment too, with happiness and satisfaction levels increasing in diverse workplaces.
Strong and steady growth
With this increase in performance and higher profit margins, steady growth inevitably follows. The Center for Talent Innovation studied publicly traded companies and found that those with greater diversity workforces were 45% more likely to have an expanded market share in the past twelve months than those who didn't. On top of this, the more diverse organizations were 70% more like to have captured a new market too.
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