Diversity refers to the difference among people in terms of age, gender, race, religion, cultural background etcetera. In the current managerial era, diversity in the workplace is significant for the success of the business. Workplace diversity means that the company employs a number of individuals who are not only different in terms of age, gender, religion but also in their prejudices and perspectives. It helps the company to gain a competitive advantage in the market. It boosts the reputation and brand image of companies on a global scale. It is so because people with diversity helps in increasing awareness of the company’s products and services among customers, business partners and the overall market.
Diversity in the workplace ensures different types of benefits. The first benefit is that employees with a variety of skills and experiences are accessing a variety of perspectives that result in the execution of business strategies effectively. Further, workplace diversity helps in increasing creativity in organisations. Employees with different perspectives, skills and experiences lead to increase creativity. When organisations employ people who see the same things in a different way, can help organisations to improve creativity. The third benefit generated by workplace diversity is Higher Innovation. When the employees of different perspectives and skills are come together to do their work, then they open the door of innovation in organisations. In addition, diversity in the workplace quickly solve the problems of business. The diverse employees solve the same problem with different solutions at one time and the best solution is chosen by the organisations in an effective manner. Moreover, it helps in reducing employee turnover and increasing profitability in businesses. Diversity brings inclusion in organisations resulting in enhancing the feeling of acceptance among diverse employees. The employees are happier when they have a feeling of acceptance. This feeling empowers the employees to stay longer in an organisation that reduces turnover rates of employees in the workplace. It has been found that organisations with a diverse workforce are the top financial performers. Workplace diversity helps the organisations to attain profits by achieving the best business outcomes.
However, the biggest challenge faced by every company is to manage workplace diversity. This challenge can be eliminated if an organisation encourages a heterogeneous workplace environment. This workplace environment can develop by promoting open and transparent communication, creating strategies of conflict management and improving a culture of tolerance. In addition, an organisation can mitigate the challenge to manage workplace diversity by deploying effective leadership management. Thus, every organisation must have a leader that positively influence their followers or diverse employees. The leader should understand the backgrounds of diverse employees and should know their ideas and beliefs towards the organisations. Therefore, above are some significant strategies that help an organisation to mitigate the challenge of managing workplace diversity.: