The demographic structure for a workforce has changed dramatically over the last years. Where it typically consisted of the white male with a retiring rate of 65, today, the British workforce reflects its diverse population.
There has been an increase on dual income families and single mothers. More sexually orientated and transgender individuals have also made their way into the business world. Britain has integrated a great many number of races and the age for retirement has just been increased.
It is true that talent and fresh ideas are the pivotal key to whether your position in a company is secured, however, with different perspectives comes different ideas and views that could be beneficial to your organisation.
The challenge should be how to capitalise on this multi-cultural soup and to create business opportunities, regardless of gender, sexual orientation, age, race, religion or disability.
Why is diversity important a diverse workforce presents a faucet with the ability to tap into the varying talents from a long range of backgrounds, perspectives, abilities and disabilities. By recruiting and retaining all kinds of people you not only increase the available talent base, but also means that the diverse pool you select candidates from could create a more qualified workforce.
The substantial and potential benefits included in using a diverse workforce:
- Better decision making;
- Improved problem solving; and
- Greater creativity and innovation.
These points in turn lead to enhanced product development and being able to compete in the global market.
Individuals from different experiences and backgrounds can more effectively market to a range of diverse consumers and hence, increase market share. In this sense, a diverse workforce delivers more effectively to a diverse customer base.
Our economy changes as new immigrants come to the UK. Not only will this help grow the economy, but benefit companies from these changing demographics as businesses meet the needs of changing communities. Selecting a diverse workforce will allow you to better understand the needs of varying customers and clients. It will also present your company with the chance to learn from various cultures and implement new found knowledge when dealing with different countries.
Businesses should capitalise on the growth of women, races and otherwise sexually orientated people that have combatted their way into the labor force. This could prove to be a great opportunity for the UK to become more competitive in the global economy.