Diversity and inclusion have become significant factors for success in today’s workplaces. A 2016 report by Morgan Stanley found that companies with higher gender diversity outperformed those without, while a McKinsey 2018 report found that companies with more cultural diverse boards were 43% more likely to gain higher profits. Meanwhile, millennials see inclusion and diversity as a crucial part of company culture, with 74% of them believing that a company is more innovative if it has a culture of inclusion.
With that in mind, ensuring a diverse and inclusive workforce has become crucial for businesses to succeed in the modern world — and many are turning to technology to deliver it. Here are just 4 ways that’s happening:
It creates a diverse pool of talent
Companies are utilising D&I technologies to help them focus on targeting applicants from different backgrounds. Employee platforms that can audit and create workplace reports are helping assess the current employee composition of a company, allowing them to see where they can improve in terms of diverse talent acquisition. For example, businesses can assess if they need more female staff by analysing their hiring trend and staff makeup.
It fosters a collaborative environment
Today’s workforce no longer works in one office or location. Digital tools in the office, like online messaging and video call functionalities, are allowing people from all corners of the world to work together with their teams without physically being in the same location, thus allowing for plenty more international collaboration. In this way, businesses are no longer limited to hiring staff from one single city or location.
It ensures no one gets left out of the loop
Technology is also being used to break down many communication barriers within a diverse and dispersed team. It’s enabling management to share company-wide announcements or team updates in the most transparent and instantaneous way. In turn, information no longer relies on word-of-mouth or gets filtered through seniority levels, allowing everyone from frontline staff to management to receive the same information at once.
It breaks down language barriers
In a similar vein, workplace technology also helps streamline communications when multiple languages and cultures are in play. In-app translation functionalities in workplace tools are making communicating in an international workforce easier than ever and ensuring that work gets done efficiently by breaking down any language barriers.