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Why are diversity and inclusion a desperate necessity for businesses in the post-COVID era?

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A holistic workforce is what you need to sail through disruptive technology and other external agitations. Having a diverse workforce enables you with the necessary industry expertise and enhanced collaborative working ability to thrive even in such uncertain and perplexing environments.

In the past couple of years, industries have overcome the apprehensions of managing workplace diversity. They are ready to be more diverse and inclusive and establish equality for all sections of society in terms of opportunities.

COVID-19 pandemic has been harsh on businesses leading to revenue losses, disruption in operation and supply chain, and even pushed some to insolvency. Companies are bound to embrace new ways of working and build a consolidated workforce capacity.

The only way to earn wings in such a disruptive environment is through resilience and innovation. A diverse orchestration of talent is increasingly seen as a way to drive innovation and thrive as companies battle to reclaim their position in the market. Here are some reasons, why diversity and inclusivity have become the need of the hour for businesses regardless of their size and industry.

  • Key to growth and recovery

A McKinsey report 2018 has presented how diversity and inclusivity have been instrumental and decisive in the success of businesses. Multiple similar observations can be noticed in the January 2018 Deloitte reviews issue. It states that companies with diverse workforces are several times more agile, innovative, and likely to achieve their financial and organizational targets.

Such enhanced creativity and innovation in a company makes it more resilient and able to blossom even through crisis. It reinforces open communication, more unbiased decision-making, and varied and exceptional ideas to resolve a wide range of issues. Inclusive companies are more likely to recover and grow faster in the post-pandemic era than homogeneous ones.

  • Driver for high-performance

Surrounded by diverse people with different skills, thought processes, and perception is the perfect ingredient for an encouraging and stimulating working environment. It makes people feel healthily challenged and motivated to innovate and engage in the company’s functioning and success.

As the pandemic has brought about brisk changes across all verticals, diversity in the workforce provides companies with the ability to emerge faster. It fuels and enhances the problem-solving ability and elevates the vision that is to adapt to the changes to combat and win over disruption.

As they say, strategic agility will be instrumental for businesses to surmount the economic slowdown. Their ability to spot and seize game-changing opportunities will be critical for the mission of success in this era. A diverse workforce offers the same competitive advantage to your business.

  • The stimulus for employee wellbeing

One of the most important and unique lessons for businesses during the COVID-19 pandemic is to take care of their employees. Whether it be through flexible working hours or hybrid work models, companies are making deliberate efforts in this direction.

Diverse workforces deliver more traction to reinforce a health-conscious working environment. It allows you to engage your staff in discussions, activities, and collaboration that promotes flexibility in the working model.

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