No Success without Diversity: Why it Matters
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No Success without Diversity: Why it Matters
The world of work is facing major challenges – from economic uncertainty and the shortage of skilled workers to technological change. However, one of the greatest opportunities for companies is the conscious promotion of diversity and inclusion.
In our latest study with the ARS Akademie, we examine, among other things, diversity in companies and show the potential offered by a diverse work environment. Read this blog post and learn more about our exciting findings!
Why diversity is more than just a buzzword
Diversity in the company means more than just a mix of different backgrounds and perspectives. It is about a conscious strategy that offers all employees equal opportunities and specifically promotes their strengths.
According to the survey, 63% of companies have already introduced flexible working hours to enable better integration. In addition, 51% of companies encourage collaboration between departments to learn from each other and work better together.
External studies also confirm the positive influence of diversity: the current McKinsey study, Diversity Matters Even More (2023), shows that companies with a high level of diversity are 39% more likely to be financially more successful than less diverse companies. This finding shows us that diversity is not only an ethical concern but also offers a clear economic advantage.
Diversity in recruiting: promoting talent in a targeted way
Another important topic in the area of diversity is recruiting: 38% of the companies surveyed have actively integrated diversity into their recruiting strategies to appeal to a broader range of talent and to attract the best talent regardless of origin, gender, or other factors.
In addition, 31% of companies have anchored diversity management as an integral part of their corporate strategy. Nevertheless, there is still considerable room for improvement: only 30% of companies offer targeted training programs for leaders to actively promote diversity and involve them in decision-making processes.
There are significant deficits at the management level in particular. A study by Deloitte from 2024 shows that the proportion of diverse leaders in Austria remains low. The study highlights that a lack of diversity in management positions can impair the innovative strength and competitiveness of companies in the long term.
The impact of diversity on business success
Diverse teams are not only more creative, they are also more productive. According to studies, companies that consciously promote diversity can expect up to 36% higher innovative strength. This is because diverse teams bring different perspectives to the table and thus find better solutions to complex problems.
In addition, an open and inclusive corporate culture leads to higher employee satisfaction, which in turn has a positive impact on productivity and employee retention.
The survey results confirm this trend: companies with clearly defined diversity measures report higher motivation and engagement among their teams. At the same time, more and more companies recognize that diversity is not only an ethical but also an economic advantage.
Diverse teams are better able to respond to market changes and drive innovation, which can be crucial in times of rapid technological change.
Challenges in implementation
Despite the recognized advantages, there are still hurdles to implementing diversity strategies. The management survey shows that 15.8% of companies have not yet taken any measures to promote diversity and inclusion. Implementation often fails due to a lack of awareness or a lack of strategic anchoring in corporate goals.
Another obstacle is unconscious bias, which often unconsciously influences recruitment and promotion decisions. To counteract this, companies should increasingly focus on training and awareness-raising measures. However, there is still room for improvement here: only 30% of companies currently offer targeted training for leaders to live and benefit from diversity.
Conclusion: from intention to implementation
While many companies recognize the importance of diversity, implementation often falls short of expectations. Leaders are called upon to take active measures to promote an inclusive corporate culture. This includes not only training for leaders, but also clear diversity goals, targeted recruitment measures, and embedding diversity in the corporate strategy.
Companies that manage to establish diversity not just as a concept, but as a fixed component of their success model, will benefit in the long term from greater innovative strength, better employee retention, and increased productivity.
Now is the time to see diversity not just as a theoretical ideal, but to use it as a strategic success factor for the future!
MDI Management International
