When you set your goals for the year, you likely have two goals in mind. The first goal is what is expected of you and your team to reach. This is usually a safe and very realistic goal. The second goal is your Reach Goal. Your reach goal is the goal you were really hoping for in order to go above and beyond. In many cases achieving your reach goal results in bigger bonuses, a promotion, and maybe even that corner office.
Your reach goal is what you know is achievable with a lot of hard work, a few risks, and most importantly, the right team. The people you work with are an extension of your ability. In other words, hiring a diverse set of employees will allow you to reach new a new potential. A 2015 McKinsey report found that companies with higher racial and ethnic diversity were 35% more likely to have financial returns above their industry mean. Here are only a few ways in which diversifying your team will allow you to achieve the reach goals you have been striving for.
1) Their Strengths Become your Strengths
Imagine being a carpenter and your only goal is to build a house. Sure, you can build the frame of the house all by yourself, but what about the plumbing, electrical work, and interior design? You don’t have the tools in your tool bag to do those tasks, but your team does. Their tools quickly become your tools. Similarly, filling your team with diverse employees who each have different thought processes and backgrounds gives you access to their various strengths and abilities you did not have before.
2) Understand Other Points of View
As marketers, we have all seen our fair share of cringe-worthy ads. Marketing blunders like the Chevy Nova (Laughs in Spanish), Lady Friendly Doritos, or Pepsi’s Kendall Jenner ad could all have been avoided if there had been a Spanish speaker, woman, or African American present in the meeting. By maintaining diversity in the office, companies can go from making marketing blunders to creating meaningful brands that will be remembered for years for their clever solutions.
3) Improve Existing Techniques
Would you recreate the wheel if you believe you could make a faster wheel? Of course you would! However, our corporations today are plagued by uniformity: the belief that there is only one way to be, one way to do things, and one way to achieve. However, any company who has invested in inclusion and diversity will argue uniformity is constraining. By investing in the diversity of your employees, you are also investing in the diversity of thought within your office. You will quickly realize there are a hundred and one ways to reinvent the wheel, each one better than the one before. Diversity inspires creativity and will serve as a catalyst for efficiency and improvement.
4) Cultural Relevancy
An article by Forbes recently stated, “If you want black audiences, give them a seat at the table.” Well it might not be a surprise that this is the case for every demographic: women, Hispanic, LGBT, Asian, you name it. In today’s market, consumers value diversity and will reward brands that are transparent and champion diversity in the office, while punishing brands that don’t. Therefore, diversity has become a principle that any ethical brand should promote because consumers know.
Diversity within the office place is not only an asset to improve diversity of thought, it is a demand that consumers are requiring now before engaging with a brand. By championing diversity and hiring diverse employees, companies are finding new ways to achieve their goals through practices introduced through new diverse ideas. Ready to take diversity initiatives to a whole new level? Give us a call and we would be happy to share how diversifying your office might help you reach your highest potential.