At Work, Special Reports, Women in Workplace

Diversifying your company’s workplace can lead to a higher market share

For global companies, diversity in the workplace has turned from a competitive advantage to a necessity for cultivating business growth and maintaining a stable position in the market. Publisher Malcolm Forbes said that ‘diversity is the art of thinking independently together.’

There is no denying it, research indicates a strong relationship between diversity in the workplace and business growth. Stuart Feil, editorial director of Forbes Insights says, “Companies have realized that diversity and inclusion are no longer separate from other parts of the business.”

Three-Theories-About-Diversity-in-the-Workplace

Some of the many flourishing companies in Pakistan are already realizing the potential of hiring people on various factors such as age, gender and ethnicity. One of them is Protector & Gamble. P&G firmly believes in the benefits of a diverse workplace and the increasing need to hire more women. Currently, the firm has hired employees from 150 different nationalities. 5 out of 11 board members are women employees, which is more than the current percentage of 33% of women in Pakistani organizations at leadership positions.

Take a look at some of the various reasons why your company should start thinking about diversifying their workplace:

  • Fosters innovation: A diverse group of employees will offer more unique, creative inputs to a solution compared to a group of people with a similar mindset and values. This in turn will give you a more qualified workface and an edge over other companies.
  • Increases customer base: Studies are revealing that diversifying the workplace is directly correlated to increasing your company’s market share. How? Employees from unique backgrounds means you can more effectively market to different groups of people belonging to various ethnic backgrounds.
  • Drives economic growth: A McKinsey & Company study found that the increase in women’s overall share of labor in the United States from 37 percent of all jobs to 47 percent over the past 40 years has accounted for about a quarter of current GDP.

The importance of workplace diversity is at one hand. What this really signifies is how women contribute more into a diverse workplace environment than men employeesA study by the consulting firm Caliper, The Qualities that Distinguish Women Leaders, found women leaders to be stronger in interpersonal skills than their male counterparts and “more conducive to today’s diverse workplace, where information is shared freely and collaboration is vital.”

The growth that a woman brings to a business is not just a shot in the air; it is backed by research and hard facts that one can’t deny. One of the many factors that Pakistani companies need to focus is gender diversity in the workplace, which can make or break their organization.  Here are the many reasons why bringing women in your company’s workplace can be highly advantageous:

  • Lower turnover rates
  • Charged to go the extra mile
  • Stronger leadership skills
  • Better interpersonal & communication skills
  • Take initiative

Is your organization ready for some action? Register your company with HerCareer.pk to hire the best of the female talent across the country!

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