Organizations need diversity for a number of self-serving reasons. As economist Tim Hartford explained here on Big Think: Diversity leads to better decisions. It can also help a company’s bottom-line, as management guru Jennifer Brown explains.
“Everything you do as a leader matters and is watched by groups of employees,” says Brown, an expert on helping top companies build inclusive workplaces. “They’re watching to see, ‘Do you respect me? Do you understand me? And have you earned my buying power?’”
Transparency is increasingly important—there’s more honest feedback between your employees and your customers. In fact, they now overlap.
Your employees should be considered your customer base. The companies with diversity training are essentially appealing to their customers—a growing population of minorities. In Britain alone, ethnic minorities will make up 30% of the population by 2050. Together, minority groups are a growing demographic. But they can’t simply be "lumped" together, which is where diversity training comes in.
Brown makes diversity training easy in the latest installment of Big Think’s Edge. She explains why these talent networks present innovative business opportunities. By prioritizing diversity training, a company is creating not only strong word-of-mouth that appeals to a growing customer set, but they are also building strategic pipelines for the company’s bottom-line.
For a preview on Brown’s course on Edge, watch a clip from Big Think’s interview: