Buzzwords come and go in the corporate lexicon. Some reflect evolving trends while others create a paradigm shift. Inclusive corporate culture and enhanced diversity fit into the latter category. They can signal a change for the better in how businesses build a workforce. More importantly, they can create an environment in which every individual can thrive, for the good of the whole.

Today’s Workers are Disengaged - According to Gallup’s State of the Global Workplace report, 85% of employees today are either not engaged or actively disengaged at work. The global figure represents almost $7 trillion in lost productivity. In reviewing options for increasing engagement numbers, and changing corporate culture, a diverse workforce should be at or near the top of every company’s priority list.

Increasing Workforce Diversity Matters - If your workforce remains heterogenous, it’s likely to hinder your business growth. Companies ranking in the lowest quartile for both gender and ethnic diversity are 29% more likely to have below-average profits, according to a report from McKinsey & Company. The lack of a diverse workforce will do more than cripple your profitability and competitiveness, it will negatively impact your company’s image. In today’s increasingly competitive hiring environment, it’s vital that your business is perceived as a good place to work—for everyone.

Diversity Starts at the Top - The CEO sets the agenda for a company’s push towards a more diverse and inclusive organization. The CEO must be proactive in hiring and promoting talent which brings a different perspective to the current challenges and opportunities facing the company. In the right environment, differences are embraced rather than ignored.  

Nurture and Measure - From the top down, company leaders must measure and reward an open, collaborative and genuine environment that promotes diversity, but one that also achieves goals. This is possible when we recognize diversity as a competitive advantage in business.

Companies today are at a crossroad. Customer expectations have never been higher, employee engagement is dangerously low, and competitors are coming from all directions. Now is the time to review your resources and create a plan to successfully navigate uncharted waters. Diversity can help your company find the right path.