Benefits Of Cultural diversity
Benefits Of Cultural diversity
The concept of cultural diversity has a very wide scope and is being practiced by people and organizations all over the world. Broadly this idea includes hiring people of diverse races, different religions and promoting the entry of working staff from different countries. Although the practice of this concept has gained momentum in the past few years, but its existence is quite old and cultural diversity continues to live all around us. It exists in different communities and households, from small suburbs to big cities and that too all through the world. Diversity is an element of the society and has now become an important part of businesses as well. The many benefits of cultural diversity include:
1.Promotes humanistic values.
When an organization has a group of employees belonging to diverse cultures, it demonstrates that the organization recognizes and celebrates and commemorates the diversity that exists in people of different backgrounds. It makes the people of the organization think that their value and worthy contributions are being realized by the organization and the management.
2.Improves productivity and profitability.
Apart from these humanistic values, cultural diversity also brings some tangible benefits to the businesses all over the world. Active persuasion of diversity at the workplace directly impacts productivity and profitability of the organization as well as the employees. There is an enhancement of productivity of the workers and profitability for the organization.
3.Helps to create a pool of talent.
When any organization invests in diversity, it results in the creation of a bigger pool of talent. This is a win-win situation for both the employees and the organization. The employees exchange and learn each otherÃ¢â‚¬â„¢s positives and competencies. Such a pool of talent provides the organization with a competitive edge, which help it to progress in a huge and competitive environment.
4.Exchange of innovative ideas.
When an organization comprises of people with diverse backgrounds, cultures and experiences, new creative and innovative ideas prop up in the minds of different people. It is natural that people with varying experiences and perspectives in life would be able to generate unique ideas and solutions to problems. This is of immense value to both the organization and employees. Such dynamic exchanges that take place between people having different perceptions yield creative results. Such a situation is never created in groups of people who think similarly and belong to similar cultures.
5.Other benefits of diversity.
Many studies related to organizational behavior conclude that promoting cultural diversity reduces absenteeism rates, lower employee turnover, reduce the costs associated with hiring new employees and reduce legal responsibility in discrimination lawsuits.
In this world of competition, where cultural diversity has so many benefits, it deserves a place in all organizations. This will not only bring profits for the organization but will lead to the development of competencies among all employees.