Gender Diversity/Gender Equality is strongly correlated with the corporate culture and might add value to an organization by infusing a perfect blend of both men and women in the workplace. Nowadays, it has become important for an organization to focus on gender diversity as it will enhance productivity and lead to the growth of the organization as well. Despite knowing the ultimate benefits of adopting this approach, there are several factors that hinder gender parity at workplace such as “Cultural Inertia.”
Let’s have a look at the reasons why it becomes important for an organization to have gender diversity in the workplace:
Improved Profits With A Versatile Workforce
A study by market research firm Gallup has revealed that as men and women have different viewpoints, ideas and market insights, hiring a diverse workforce can improve a company’s financial performance.
Getting Benefited From A Large Talent Pool
Hiring a diverse workforce especially women, whether in general or for high-level positions, enables a company to have a large talent pool. And thus favoring either gender can cause an organization miss out a large talent pool.
Improved Productivity Via A Combo Of Desired Job Skills
Research suggests that women tend to be better at multitasking as compared to men who tend to be better at performing single tasks, which provides an organization the option to have a combination of these skills that might result in improved productivity.
Boosting Workforce Morale
Gender diversity is important to any workplace, so an organization needs to define diversity culture as well as maintain an environment that supports and strengthens the culture. Having a balanced workforce which involves both men and women helps improve the morale of either gender as they feel very comfortable when it comes to sharing their personal interests.
Increased Return On Assets Aided With Women Power
A study by Hanshin University, Harvard Business School and Massachusetts Institute of Technology revealed that a slight increase in the number of female managers can result in increase in return on assets (RoA) of an organization.
Here it also becomes important for an organization to have a defined diversity culture and constantly evaluate progress in its diverse culture practices.
Apart from these benefits of hiring a diverse workforce, an organization should always prefer to hire the best candidate regardless of gender and ensure that both genders are adequately represented in the workplace in order to increase productivity.