Promoting inclusion is one of the most important elements of every workforce in the world. Besides the fact that not doing so is illegal, having a diverse body of employees comes with a plethora of benefits. And, although the vast majority of the people would agree with the previous statements, there are still a lot of gender-based discrepancies in the workplace. Just consider, for example, the fact that a lot of female employees continue to earn far less than their male counterparts who perform the same duties.
More shockingly, there are certain industries where female workers are not hired as commonly as males. It is important to raise awareness about all the positive sides of having gender diversity within the organization to overcome those issues. So, what are some of the most important benefits of hiring people based on merit instead of gender?
Matches the Customer Base
In almost every product and service-based market, the customers are going to be about as diverse as it gets. After all, no company in their right mind refuses to serve people based on such irrelevant criteria. This is why it is important also to have a workforce that is fairly reflective of the customer body. For example, if the clothing industry comes with a half-and-half split between male and female customers, it would make no sense only to hire male workers.
Furthermore, the United States population actually comes with a slightly larger number of females. Expectedly, women are going to be the more common buyers in a lot of markets. Hence why it is crucial also to have women working in those markets as they will understand the customers’ perspectives better.
When a company refuses to hire someone who has the proper credentials and qualifications due to their gender, they are committing a crime. Besides obvious penalties that will be asserted on them by the full extent of the law, they are also going to face public scrutiny. Think about the repercussion of coming out as the organization where female employees are publicly rejected for no valid reason. This would have a terrible effect on the public image of the company, and a lot of customers would likely stop all of their transactions with the said brand. Thus, revenue would decline, and their reputation would be shattered.
Better Recruiting Efforts
According to an entrepreneur and a hospitality expert, Rakesh Sarna, hiring good employees is one of the main indicators of future success. Well, finding those types of individuals is often very difficult. This is also why a lot of companies spend thousands of dollars on recruiting events, many rounds of interviews, and office visits. Doing so allows them to get to know the candidate very well and evaluate if they are a good fit for the firm. In case the female candidates are not viewed as equal to their male counterparts, however, recruiting will be twice as hard. Why? Because the number of eligible candidates will be cut in half by an unjust standard that comes from a place of prejudice.
One of the most obvious advantages of having a diverse workforce boils down to the different viewpoints. Hiring individuals who come from the same background and who have a very similar upbringing will not help the brand establish a competitive advantage over its competitors. If anything, it will decrease the innovation and creativity that exists within. Those brands that welcome people regardless of gender, race, nationality, or any other demographic, however, will be much better off when it is time to generate unique ideas.
Success, Profitability, and Retention
Ultimately, there is a lot of research supporting the fact that organizations, where female workers are equally compensated, are more successful. Some of the underlying reasons here revolve around the employee morale and willingness to go above and beyond. In other words, employees whose salary solely depends on productivity will have a great incentive to be efficient.
Companies where gender may also play a role, on the other hand, can expect to see lower productivity as there will be a lot of hidden resentment. Expectedly, less productivity is going to drive down the profitability as well. Thus, according to Rakesh Sarna, it is not a far-reaching statement to say that more inclusion yields more profit!