Diversity and Your Organization
What can increasing employee diversity do for your business?
Hiring with a focus on diversity is not just about developing a more inclusive workplace. The reality is that there are a multitude of concrete benefits companies experience when increasing their diversity. From increased staff retention to a better bottom line, there are several motivations for increasing diversity in your organization, and so many opportunities to be rewarded for this business decision.
Why Diversity will work for you: The Facts
- The talent market is shrinking, workers are getting older and there are fewer skilled people to fill jobs as they become available. Businesses will need to look for talent in every corner of the community. People with disabilities are part of an untapped market, representing a group of people with a variety of skills at a variety of levels ready to fill these positions. (Deloitte & Touche LLP. The Road to Inclusion: Integrating people with disabilities into the workplace. July, 2010)
- Diverse workplaces promote creativity, innovation and better decision making. People with disabilities bring a fresh perspective and innovation to the workplace thus allowing businesses to utilize the strength and competitive advantages of diversity. (Deloitte & Touche LLP)
- Employees with disabilities are often more productive (with 90% of individuals with disabilities rated as performing as well, or better than their non-disabled co-workers) and more dependable (with an 86% rate of better attendance, and a staff retention rate 72% higher than non-disabled employees). This allows employers to save money on hiring and training costs. (Statistics Canada, Deloitte & Touche LLP)
- When polled by Forbes, 85% of Senior Executives agreed that diversity is crucial to encouraging different perspectives and ideas that nurture innovation. They also stated that this was a critical factor in being a successful business in today’s competitive global economy. (Forbes Insights. Global diversity and inclusion: Fostering innovation through a diverse workforce. July, 2011)
- A diverse and inclusive workforce is crucial for companies that want to attract and retain the best employees. ” If you want to attract the best talent, you need to be reflective of the talent in that market.” (Eileen Taylor, Global Head of Diversity Deutsche Bank) (Forbes Insights)
- 1 in 6 Canadians has a disability. When you hire people with disabilities, you’re communicating to customers with disabilities (or their family members) that your company values diversity. This allows businesses to better reflect the markets they serve which increases market share and boosts public image. (Sean McEwen; Senior Consultant – RealEyes Capacity Consultants. Why would I hired someone with a disability? February, 2014)
- There are real financial benefits to your businesses bottom line to be had. “Return on Disability. It’s not about special jobs for special people…it’s a real profitability driving this forward.” (Rich Donovan, CBC TV The National. The Economic Benefits of Hiring Persons with Disabilities. February, 2014)
- CBC featured Tim Horton’s and Wallgreens employers currently enjoying the economic benefits of hiring persons with disabilities on the February 26, 2014 broadcast on The National.
- Business owner Mark Wafer was featured in a 2010 interview on the NDEAM website. Mark is the owner of 7 successful Tim Horton’s franchises and lists exceptional staff retention rates as a significant benefit of his diversity hiring practices.
CAES provides expert services in diversity recruitment and retention, at no-cost to the employer. Don’t miss out on all that diversity can do for you – contact CAES today!
- The Current State of Diversity & Inclusion
- Global Diversity and Inclusion
- Why Would I Hire Someone with a Disability?