The Power of Diversity: Unlocking Benefits for Employees and Organizations

By Lynn Tan, Vice President, Regional Head of Human Resources APAC & MEA

There are many conversations about diversity in the workplace these days. When we talk about diversity, it spans across many aspects such as age, gender, ethnicity, culture, nationalities, abilities, education, and abilities.

Diversity is more than just ticking the box for good corporate governance. It’s almost an essential “ingredient” for organizations to thrive in today’s interconnected and globalized world. 

Prioritizing diversity reaps benefits beyond reports and rankings. A study by consulting firm McKinsey found that companies with the most ethnically diverse executive teams are 39 % more likely to outperform their peers on profitability. Fostering a supportive and inclusive environment for employees does improve business performance. 

Here are just a few ways how embracing diversity benefits both employees and organizations.

1. Diversity Improves Problem Solving and Decision-Making

Diversity in the workplace brings together individuals with varied backgrounds, perspectives and experiences. Employees from diverse backgrounds contribute unique ideas that spark creativity and innovation. Studies such as those published by Innovation: Management, Policy & Practice and Economic Geography have shown that diverse teams are better at solving complex problems and generating new ideas compared to homogeneous teams.

Diverse teams make better decisions, according to a Northwestern University study. Diversity ensures a wider range of perspectives, reducing groupthink, and promoting thorough analysis. Employees in such teams learn to challenge assumptions constructively. A positive outcome is achieved which benefits the organization—more robust and effective strategies as well as better decisions made.

When employees from varied backgrounds collaborate, they bring with them different perspectives and can challenge the status quo. The result? More innovative and game-changing solutions. 

2. Diversity Enhances Employee Satisfaction and Retention

Research by the Massachusetts Institute of Technology supports the notion that a diverse workplace creates a sense of inclusion. Employees feel valued for their unique backgrounds and contributions. There are spillover effects from this. It leads to a positive impact on workplace culture. More collaborations, more mutual respect, more ideas across the board. 

When individuals feel respected and included, job satisfaction increases, leading to better overall engagement and productivity. Moreover, companies that embrace diversity often see lower turnover rates which in turn are more likely to attract and retain top talent.

It’s evident that diversity plays a part in fostering workplace culture. It fosters collaboration, mutual respect, and a myriad of ideas. 

3. Diversity Expands Market Reach

Diverse teams enable organizations to better understand and serve diverse markets. Employees with varied cultural insights can customize products and solutions to meet the unique needs of different customers and stakeholders. 

Serving diverse markets means being on the ground and hiring local talent who possess in-depth knowledge of the local market. They know what the customer exactly needs and how to set them up for success in their business. It also helps to empower local communities through job creation and socio-economic development.

This is the formula SSI SCHAEFER uses when we build a presence in the markets we operate in. Tapping into diverse talent to bring the best of global technologies to local warehouses all around the world.

4. Diversity Builds an Employer Brand

A commitment to diversity makes it more attractive for organizations to draw top talent. Job seekers of today are placing greater emphasis on workplaces that prioritize diversity and inclusion. By building a reputation as a diverse and inclusive employer, companies can attract high-caliber candidates from all walks of life.

This is especially true for millennials and Gen Zs, who often prioritize social values when choosing employers. A strong diversity policy signals to potential hires that the company values fairness and forward-thinking practices.

It’s important to celebrate that diversity as it’s not always a given. The “What’s Your Vibe” employer branding campaign underpins SSI SCHAEFER’s commitment to diversity. A diverse team is what makes SSI SCHAEFER a global leader in intralogistics.

5. Diversity Empowers Personal and Professional Growth

Working in a diverse environment offers opportunities for employees to grow and learn. 

A key benefit for employees is the exposure to different perspectives. It enhances cultural agility and communication skills, making them more adaptable and empathetic. They learn to collaborate with colleagues from diverse backgrounds, gain new insights, and even challenge their own perspectives at times. 

These qualities are essential for both personal development and career advancement as the ability to thrive in an international team or organization is almost a given in the workplace of today. With such experiences, employees will be better suited to undertake additional responsibilities, including regional or global roles. 

Diversity Benefits Your Business

Diversity isn’t just the right thing to do. It’s the smart thing to do.

While the benefits of diversity and inclusion are undeniable, achieving it requires commitment and support from all stakeholders. 

Organizations must address unconscious biases, ensure equitable opportunities, and foster an inclusive culture where every voice is heard. This involves transparent hiring practices, recognizing employees’ achievements, and leadership accountability.

More than just a ticking off the box exercise, diversity creates a competitive advantage for businesses. By fostering diverse and inclusive workplaces, organizations empower their employees to bring their whole selves to work, unlocking creativity, collaboration, and growth. In turn, businesses not only achieve better financial performance but also contribute to building a fairer, more equitable society.

This is what we strive to achieve at SSI SCHAEFER. We recognize and embrace the value diversity brings to the table. Hiring of our employees is based solely on their abilities. We give everyone the opportunity to succeed in their careers when they join us. 

We want to know your vibe. Look at our careers page for opportunities with us.

So, What’s Your Vibe?