Diversity: A Magic Bullet for Innovation, Retention, and Growth

Yes, we are still talking about diversity. Why? Because it seems we just can’t get it right when it comes to having across-the-board depth of diversity in our companies.

Diversity covers more than just race and ethnicity. Workplace diversity is all-encompassing. It includes race and ethnicity, gender, sexual orientation, age and generation, socio-economic status, religion, disability, and even vision and perspective – and it includes recognition and advancement regardless of any distinguishing demographic factors. In a nutshell, diversity demonstrates a company’s willingness to value people for themselves – to see differences as valuable and worthy of recruitment.

In a world of bottom lines and financial pressures, diversity is necessary to remain competitive. So why not consider these key approaches:

  • Differing perspectives energize innovation. The best ideas often are discovered during the discussion of competing ideas – compromises and innovations that would not have been discovered otherwise.
  • Millennials and Gen Xers expect and demand diversity. The youngest two generations value diversity exponentially more than any generation before them, and many of them are vocal about diversity being a key factor in their consumer and employment choices.
  • Increased globalization demands diverse cultural knowledge, understanding, and cooperation. You can’t properly serve people you don’t understand. Employing people who understand your target markets is not enough; employing people who represent your target markets is fundamental.

The bottom line is simple: Diversity is essential to high performance in our modern economy. Companies that understand this and rise to the challenge simply outperform companies that do not.

Which kind of company will yours be?

East Tenth Group is a boutique consulting firm providing people strategy, leadership development and executive coaching services. We are fiercely committed to helping leaders and their businesses thrive in today’s complex environment. We partner with growth enterprise and middle-market businesses that need strategic leadership and human capital insight, perspective, and experience to grow and sustain their efforts. Michelle Tenzyk serves as the President of East Tenth Group, Inc. Follow Michelle on LinkedIn.

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