Question: We live in a complex, interconnected world where diversity, shaped by globalization and technological advance, forms the fabric of modern society. Notwithstanding this interconnectedness, there
We live in a complex, interconnected world where diversity, shaped by globalization and technological advance, forms the fabric of modern society. Notwithstanding this interconnectedness, there is also growing polarization - both in the physical and digital worlds - fuelled by identity politics and the resurgence of nationalist ideals. Not surprisingly, our workplaces tend to mirror the sociocultural dynamics at play in our lives outside work. Having built and scaled a multinational enterprise over nearly two decades, I have learnt that diversity in the workplace is an asset for both businesses and their employees, in its capacity to foster innovation, creativity and empathy in ways that homogeneous environments seldom do. Yet it takes careful nurturing and conscious orchestration to unleash the true potential of this invaluable asset. In this era of globalisation, diversity in the business environment is about more than gender, race and ethnicity. It now includes employees with diverse religious and political beliefs, education, socioeconomic backgrounds, sexual orientation, cultures and even disabilities. Companies are discovering that, by supporting and promoting a diverse and inclusive workplace, they are gaining benefits that go beyond the optics. Business has the transformative power to change and contribute to a more open, diverse and inclusive society. We can only accomplish this by starting from within our organizations. Many of us know intuitively that diversity is good for business. The case for establishing a truly diverse workforce, at all organizational levels, grows more compelling each year. The moral argument is weighty enough, but the financial impact - as proven by multiple studies - makes this a no-brainer. There is substantial research to show that diversity brings many advantages to an organization: increased profitability and creativity, stronger governance and better problem-solving abilities. Employees with diverse backgrounds bring to bear their own perspectives, ideas and experiences, helping to create organizations that are resilient and effective, and which outperform organisations that do not invest in diversity. A Boston Consulting Group found that companies with more diverse management teams have 19% higher revenues due to innovation. This finding is significant for tech companies, start-ups and industries where innovation is the key to growth. It shows that diversity is not just a metric to be strived for it is actually an integral part of a successful revenue-generating business question 2 It is stated in the extract that it takes careful nurturing and conscious orchestration to unleash the true potential of diversity. This implies that is should be managed well. As the diversity officer in your workplace, suggest to the management Eight (8) approaches that your organisation can take to manage diversity and elaborate on why these approaches are required.
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