Why Diversity in the Workplace so Crucial
Option #1: Why is diversity in the workplace so crucial? (paper)
In the organization you created in module 1, in your response to the question, "Why is diversity in the workplace so crucial?", answer the following:
(My organization: The Spruill Company is a family-owned company located in Rocky Mount, North Carolina. This location was chosen as it is an up-and-coming area in North Carolina that has potential for business and economic growth. While the founder, Katisha Spruill is originally from North Carolina it was important to have the business headquartered in North Carolina.
The purpose of The Spruill Company is to serve as a resource to entrepreneurs and business owners by providing start-up services, accounting and tax services, legal formation, and even financial support. By way of assessment The Spruill Company reviews applications submitted by entrepreneurs and business owners to determine which businesses are best suited for The Spruill Company to partner with. Having obtained a reputation in the business community The Spruill Company is a respected business known to deliver on its promise. It is the reputation that drives business and is allowing it to thrive even with minimal marketing.)
The Importance of Diversity in The Workplace
The Benefits of Diversity in The Workplace
How to Promote Diversity in The Workplace?
Submission Requirements:
Your submission should be 4-6 pages in length (not including title or reference pages) and be formatted according to the CSU Global Guide to Writing and APA Requirements (Links to an external site.).
Be sure to discuss and reference concepts taken from the course reading material and relevant research.
You must include a minimum of 6 credible, academic, or professional references beyond the text or other course materials (at least two scholarly/peer-reviewed from the CSU Global Library).
You may wish to review the Template Paper (Links to an external site.) for help formatting your essay according to the requirements.
If you need assistance with your writing style or you need writing tips or tutorials, visit the CSU Global Writing Center (Links to an external site.).
Review the grading rubric to see how you will be graded for this assignment.
Why is Diversity in the Workplace so Crucial?
Student’s Name
Department, Institution
Course Number: Course Name
Professor’s Name
Due Date
Why is Diversity in the Workplace so Crucial?
Introduction
Diversity at The Spruill Company entails ensuring that the workforce comprises people with various characteristics, including genders, races, ethnicities, educations, sexual orientations, ages, religions, and other attributes. Instead of having workers from similar backgrounds, the Spruill Company is committed to creating diverse workplaces by employing people from all walks of life and amplifying voices from across the organization. The Spruill Company creates an inclusive environment by accepting each worker’s differences, enabling workers to realize their optimal productivity levels to ensure that business reaches its fullest potential. This paper evaluates the importance and benefits of implementing diversity at The Spruill Company and the approaches managers can apply to promote the practice. Diversity enhances innovation and business performance, boosts brand reputation, fosters quality of decisions, and improves workplace employee trust and engagement. Approaches to promote diversity include using human resource tools to evaluate diversity performance and making inclusivity central to the hiring processes.
Importance of Diversity in the Workplace
A diverse workplace is a win-win for both the business and its employees. Diversity contributes to a myriad of desirable business outcomes, including increased creativity and innovation. When the company brings together individuals with different approaches and perspectives, it creates a pool of fresh and increasingly innovative ideas to develop cutting-edge breakthroughs and concepts. Inclusive businesses are also increasingly profitable and record higher revenues (Schreiber-Shearer, 2021). A recent report indicated that firms with more diverse management teams record 19 percent more revenues, particularly employees’ innovation and creativity (Powers, 2018). This finding is significant for tech firms, start-ups, and the sector where innovation is the primary determinant of growth (Farmanesh et al., 2020). As a family-owned business seeking growth and sustainability, The Spruill Company should make diversity integral to the revenue-generating endeavor. This is crucial because diversity implies inclusivity in ideas, approaches, and minds – which encourage teams to find solutions by considering different dimensions, thus making the solution more robust, optimized, and well-rounded (Powers, 2018; Thatch, 2021). The figure below emphasizes that companies with diverse teams record higher innovation revenues.
Figure 1: Innovation Revenues due to Diversity (Lorenzo & Reeves, 2018).
Diversity contributes to better public perception of the brand. It dramatically enhances how the organization is viewed and perceived, thus shaping the brand. The Spruill Company has obtained a reputation within the business community. It is a respected brand for its capacity to deliver on its promise. The company’s reputation drives the business, thus allowing it to thrive even within minimal marketing. In this way, it is not enough to have diversity and inclusivity statements or make annual company reports; instead, the company should strive to enhance diversity by embracing differences (Schreiber-Shearer, 2021). By doing so, the Spruill Company would strengthen customer loyalty and gain countrywide recognition for its efforts. The company would retain its position as an entity that supports a culture where open expressions of different approaches and perspectives are respected and leveraged to benefit the community, the employee, and the business (Szymanska & Aldighieri, 2017). Moreover, the company would receive media spotlight for its leading role in improving diversity at the workplace.
Benefits of Diversity in the Workplace
Diversity boosts employee trust and engagement at the workplace. When workers feel included, they become more engaged and empowered. Highly empowered and engaged workers go the extra mile to ensure the company meets its targets. Engaged works have a ripple impact on team morale, retention, and overall profitability. Inclusive workplaces create a conducive environment for workers to thrive by ensuring that employees are happy to work for the organization (Mousa, Massoud, & Ayoubi, 2020). In addition, such an environment results in better mental and physical wellbeing. According to the Glassdoor Team report (2021), job applicants look for an inclusive organization when making the next career move. More specifically, 76 percent of job seekers and employees reported that they valued a more diverse workforce when assessing employers and job offers (Glassdoor Team, 2021). This implies that, whether or not The Spruill Company is considering improving its diversity, more candidates and employees are appraising diversity when they research the firm and during the interview processes. In this way, the company must increase its diversity to build employee trust and engagement in the workplace.
Diversity driv...