In this blog, we will talk about Multicultural Impact within your company. Having a diverse workplace makes for a great workplace. So, how do you do this?
The Melting Pot
America, the big melting pot. We recognize that the workplace hasn’t always been the best representation of broad diversity. There are benefits to having a diverse workplace, with a variety of perspectives from multiple genders, ages, ethnicities, and more. Even government agencies and large corporations are putting forth substantial efforts and budgets to make the workforce more inclusive.
Multicultural Impact Within the Workplace
Companies are investing time and money into diversity. What are the benefits your company could see when becoming more diverse? Beyond having a variety of perspectives, we feel the top 3 reasons for becoming more diverse are:
Innovation is the practical use of ideas that result in the introduction of new goods or services. If your company has a diverse staff, the ideas and perspectives are going to be diverse as well. Being able to think outside of the box and get various feedback to generate more ideas allows for greater innovation.
Better Company Reputation.
“If you haven’t got the best talent, you’re not going to be the best. If you’re not representing properly the available pool of talent, then you’re missing an opportunity.” Alex Wilmot-Sitwell Of course you want your company to be viewed as good, human, and socially responsible. Having a diverse workplace makes your company look more interesting and provides a better company reputation.
- Increased Profits. There are several studies that have been conducted looking at company profits. Zippia.com has reported statistics based on diversity and company financials. “Companies with diverse leadership have a 36% higher likelihood of financially outperforming companies with little or no diversity.” Also, “diverse companies enjoy 2.3 times more cash flow per employee as compared to less inclusive work environments.” Having a diverse workforce provides the opportunity for a better understanding of customers’ needs. Because there’s a better understanding of customers’ needs, and diverse ideas on how to fulfill those needs, greater productivity is created.
How to Attract a Diverse Workforce
Employee Referrals – So, if you already have employees from different cultures, ask them for referrals. Work is always more fun with there’s a family-like atmosphere. And, personal referrals help to make it that way. This is especially true with Hispanic and Asian cultures where they are very family-oriented. Personal referrals also help in learning a candidate’s true abilities. When it comes to hiring employees from different cultures, it’s important to understand how they present themselves. For instance, in the Asian culture, people are not boastful and may understate their qualifications. But to have a personal reference would provide critical feedback on the candidate’s abilities.
Financial Incentives for Referrals
What better way to get employees to provide personal referrals than to offer money? According to goremotely.net, 71% of employers see cash bonuses as the most effective employee referral incentive. Also, your company could offer various incentives over money such as; extra PTO, gift cards, or donations on the employee’s behalf.
We have written blogs about this before. There are many cultures that are very tech-savvy and using digital advertising to attract talent is very effective for capturing diverse employees. Want to save time and money? Hiring a marketing agency to develop effective and eye-catching strategic communications is a great idea. Also, agencies know which job boards provide the best ROI, and if needed, can provide translation services.
Be Conscious about Interviewing Styles
Some cultures are very adept at our way of interviewing. But there are cultures that prefer to write out answers, giving time to critically think of responses instead of random interview questions. If you’re wanting to hire multicultural employees, you must be sensitive to cultural differences. You may have to use different diagnostic tools to assess strengths and weaknesses, not solely relying on traditional interviews.
There are multiple benefits for having workplace diversity ranging from increased perspectives, creativity, problem-solving to better company reputation. Diverse and inclusive workplaces are more innovative, productive, and successful. A multicultural and inclusive workforce makes a great impact proving it’s worth the time and investment. Diversity in the workplace can possibly take your company to new levels.