What Is Diversity And Why Is It Good For Business?

A very important topic is workplace diversity. Nowadays, discrimination is generally prohibited in workplaces. People cannot be denied jobs due to age, gender, race, disability, or similar factors. However, this does not mean that this kind of discrimination does not happen. Additionally, discrimination can take place within the workplace, even after a person has been hired. This is why it is important to have an emphasis on diversity and acceptance in the workplace.

If you are interested in learning about workplace diversity and just do not have a background in the topic, it makes sense that you might have many questions. For example, you might wonder, what should I know about ability diversity in the workplace? Are there different types of diversity training that can be good for my department? How can I learn more about diversity initiatives in companies? What are the types of diversity and inclusion training that might be able to benefit my company? It would be a good idea to talk to someone who has a lot of experience in workplace diversity and understand all of the rules if you want to learn more about this topic, as they will likely be able to answer your questions.

What Is Diversity?

The market is a competitive place. With the economy only continuing to fluctuate and grow in unexpected ways, businesses large and small have a combined responsibility to put their best foot forward and use all resources at their disposal to encourage both their success and the happiness of their workers. Human resources consultants are only continuing to see their services grow in demand as employee retention rates struggle, diversity grows and awareness increases. If you are a manager or a CEO that has been attempting to wrangle in the veritable beast that is fruitful hiring tactics but are starting to hit a wall, look below to learn more about human resources consultants and how they can help you out.

One of the most vivid changes being made to the workplace are diversity initiatives. With demographics fluctuating noticeably year after year and companies becoming more aware of the needs of both the workforce and general populace, human resources consultants are choosing diversity as one of their go-to methods of improvement. Ongoing research by McKinsey has shown gender-diverse companies being 15% more likely to outperform their peers, as well as ethnically-diverse workplaces excelling at 35% higher than uniform demographic models.

What Is Employee Turnover?

A frustrating issue for many businesses is employee turnover, a term used to describe the rate at which workers leave their job for another. Studies have shown 22% of new hires leaving their jobs within 45 days or less of being hired, with common reasons including poor performance and temperament issues as deemed by the managers or general staff. The cost of employee turnover in the long-term range from 30% to over 150% of the employee’s salary, with the U.S. Department Of Labor estimating the average cost of a poor hiring decision costing 30% of the year’s earnings.

What Is Employee Retention?

Compare to employee turnover — employee retention is the process of maintaining a consistent workforce, be it through higher job satisfaction rates or more careful recruitment procedures. Nearly 60% of organizations view employee retention as an ongoing issue and seek to solve it through the use of human resources consultants and diversity campaigns. New hires that have undergone a structured on-boarding program, for starters, are nearly 60% more likely to be with the company for three years or more. Likewise, according to a survey by Jobvite as many as 50% of employed workers are open to new job prospects even when they aren’t actively searching.

What Is Job Satisfaction?

Employees that are satisfied with their job regularly outperform their less satisfied peers. Nearly 90% of companies with employee recognition programs have cited an increase in worker happiness and, as such, higher employee retention rates. This has been shown to impact a worker’s physical and emotional health — happier employees are less likely to get sick than those who are unhappy, with fewer sick days and absent days taken. Around 35% of CEOs, both small and average-sized, have pointed to staffing as the most significant issue they are facing today.

What Are Human Resources?

A business isn’t an easy thing to run. With marketplace figures, advertisement and day-to-day management all muscling for attention, you’ll want to take every little boost you can to ensure success. Human resources consultants are professionals in tackling all the basics of a running business, from recruitment to industry trends, and can help you circumvent many of the pitfalls facing modern companies today. Even difficult processes like poor skill matches and unclear performance objectives can be analyzed and solved in a timely manner through the diverse skills human resources consultants bring to the table. A business is only as strong as its foundation and outplacement services can help you create one of the sturdiest around.