How can diversity and inclusiveness give a company a competitive edge?

Diversity and inclusiveness | Business & Finance homework help

Diversity and inclusiveness can give a company a competitive edge by allowing them to achieve innovation in their products or services. Having employees from different backgrounds and cultures will bring unique perspectives that can help identify untapped markets, generate ideas for new products and services, and develop creative solutions to challenges. Additionally, having diversity within leadership roles provides a more authentic representation of the customer base which builds trust with customers; this trust is essential when competing against other companies. Furthermore, creating an inclusive environment where all employees are accepted regardless of gender, race or sexual orientation is attractive to top talent; being able to attract the best candidates puts a company ahead of its competitors. Ultimately, embracing diversity and inclusion creates an organization environment characterized by respect and collaboration; this leads to higher employee morale thereby promoting productivity levels within the company that are superior to those of non-inclusive organizations.