Managing diverse workforces well help fill skills gaps, understand your customers, get the best candidate, find new markets and reduce recruitment costs.[1]  Encouraging diversity in your workplace can lead to greater staff commitment, lower absenteeism, new customers, increased profit and more.[2]

Some business benefits of workplace diversity include the following.

Improved recruitment
EEO/diversity practices can help ensure workplaces effectively tap into the diverse talent pool, hiring and engaging people with the skills and commitment they need to prosper in difficult economic conditions. 

Greater business productivity
EEO/diversity practices acknowledge people as a critical strategic asset. A multi-skilled and versatile workplace is engaged, open to change and innovative. 

Increased staff retention
EEO/diversity strategies encourage respect between employers and employees. This often results in increased loyalty and engagement. As well as improving productivity, EEO can provide a better return on skills investment and maximise organisational knowledge. 

Reduced absenteeism
Research shows that versatile workplaces which offer flexible working options and support and reward employees on the basis of merit, experience lower absenteeism. 

Attracting new customers
EEO and effective diversity management can be powerful tools to help business effectively recruit and manage people who can attract new customers. Diversity in the workforce reflects an increasingly diverse customer base. 

Better customer service
EEO/diversity practices often improve staff satisfaction and morale, and ultimately sales and performance. 

Enhanced company image
Workplaces that have adopted EEO and are committed to practices that encourage diversity are seen as good corporate citizens or "Employers of Choice". Doing the right thing with the right people for the right reasons often translates to higher productivity and improved return on investment. 

Reduced risk of claims
Implementing good EEO/diversity practices helps create an open and inclusive culture where discrimination, harassment and bullying are not tolerated. 

Better health and safety
Workplace discrimination, overwork and stress can all result in health and safety issues. EEO and work-life initiatives aim to create a healthy work environment which supports people at work and outside work.

[1]     Source: “Talent not Tokenism. The business benefits of workforce diversity”, Equality and Human Rights Commission, TUC and CBI (2008), United Kingdom
[2]     Source: “Versatile Workplace, Business Success. Maximise your business potential with a diverse workforce”, EEO Trust, 2005, Auckland.