Diversity variety of innovative ideas and new

Diversity in the workplace is one of the strongest tools a company, business or industry can possess. Workplace diversity refers to the variety of differences amongst individuals in an organization. It encompasses race, gender, ethnic group, age, personality, cognitive style, tenure, organizational function, education, background and more. Business environments that encourage diversity do not only eliminate discrimination in the workplace but also challenges cultural/religious biases, promotes inclusion/unity and contributes to the overall growth of the organization. Furthermore, the main goal of diversity in the work place is to ensure that companies are able to cater to the wide and ever changing demographics of the country.   I concur that having an objective hiring process leads to diversity in a work place because embracing diversity in a work place benefits businesses in various ways. One of the most important forms of diversity in any workplace is racial diversity. According to the national center for public policy and higher education in 2005, the percentage of racial and ethnic minorities in the American working-age population was to rise from 18 to 37 by 2020. Racial or ethnic diversity in various companies/organizations is not only beneficial to the business but to the nation as a whole. More immigrants and minorities are taking the opportunities offered to them to join the work force which can be anything from the military to factory shifts. Diversity in race can help improve marketing strategies and boost sales, attract positive attention from the public and also attain more competent and diligent employees. Diversity in age is another major factor that is necessary for businesses to better their brands and increase their numbers. This factor is especially important because it allows for a wide variety of innovative ideas and new market insights to increase profitability. Having a team of employees ranging from teenagers to the middle-aged can benefit the company by improving group decision making and overall performance since ideas are streaming from years of experience or local present-day market knowledge. Age diversity in the workplace greatly reduces the possibility of group think when it comes to problem-solving or creative thinking. This is because each group will respond to or approach new business opportunities differently due to the age gap. It is 2018 and many big, even fortune 500 companies, pride themselves in inclusion. Diversity in sexual orientation especially in the U.S is a huge contributing factor to marketing success. New marketing insights are brought to light which can assist the company in serving a broad range of customers. Businesses that pride themselves in inclusion of the lgbtq+ community are also deemed more favorable by the general public and considered safe enough for potential applicants of these communities. Data from the LGBT 2020-LGBT Diversity study presented by Out Now states that the US Diversity in the workplace is one of the most efficient ways to boost the company’s reputation and sales. However in an attempt to create diversity some companies fall short or go bankrupt as it is quite costly. Diversity training can be expensive and to save cost, some companies can chose to not allocate enough funds to hiring professionals, and the results are poor communication and poor group dynamics among co-workers of different backgrounds. According to the 2016 study by the Harvard business review, companies that incorporate mandatory diversity training that includes pressure, blame, etc. usually end up with employee bias and animosity towards underrepresented groups. Some businesses miss the mark when it comes to inclusion and diversity and create what is called reverse discrimination. This is where companies start to hire individuals based on their characteristics instead of their qualifications which can hinder the progress of the company.  Despite the challenges faced in creating a more diverse work space, the benefits stand to make up for them. Creating a diverse work force, allows for companies to have a large pool of applicants. This increases the chances of the company to recruit the most qualified individuals which in turn means more productivity for the business. Working for a company that values diversity and inclusion can increase compatibility among workers, promote retention of valuable skills/knowledge and increase worker productivity. Developing a diverse work force also drives competition which increases sales of the company that can target all ages, races, ethnicities, religions, sexual orientation, gender etc,. In addition to monetary/financial benefits and protecting employees from discrimination, a diverse work space celebrates difference and creates a tolerant atmosphere that is conducive for everyone.