True workplace diversity is achieved when all staff can access and enjoy the same rewards, resources and opportunities regardless of age, gender, physical or mental ability, culture, marital status, religion, political opinion or sexual preference.
Adapted from Mercer 2020 https://mobilityexchange.mercer.com/Solutions/More-mobility-solutions/Mobile-workforce-diversity-and-inclusion
The benefits of workplace diversity
Evidence shows inclusive workplaces that embrace diversity results in positive outcomes both internally, through high performing teams, as well as externally for customers, key stakeholders and overall profitability.
- Racially Diverse Teams Outperform Non-diverse Teams by 35% (Clear Company)
- Teams Where Men and Women are Equal Earn 41% More Revenue (Clear Company)
- Women are:
- 34% better at working out compromises
- 34% more likely to be honest and ethical
- 25% more likely to stand up for their beliefs
- 30% more likely to provide fair pay and benefits
- 25% better at mentoring (WeForum).
- Companies in the top quartile for ethnic and racial diversity in management are 35% more likely to have financial returns above their industry mean (HBR).
- Companies in the top quartile for gender diversity were 15% more likely to have returns above the industry mean (HBR).
- Diverse teams are more likely to constantly re-examine facts and remain objective. They may also encourage greater scrutiny of each member’s actions, keeping their joint cognitive resources sharp and vigilant (HBR).
Taken from WeForum.org https://www.weforum.org/agenda/2019/04/business-case-for-diversity-in-the-workplace/
Legislative requirements
In terms of meeting relevant legislative requirements, Diversity Australia has a range of useful tools. These resources include assistance with addressing workplace discrimination and harassment, how to ensure fair and equitable recruitment processes and how the law applies to employees based on a range of areas.