One of the most important things to understand about workforce diversity is that it’s not simply a laudable goal: it’s a serious competitive advantage. Top global executive search firms have long understood the power of taking a global perspective when it comes to talent acquisition. More and more companies are following suit, making the battle to find the best international talent fiercer than ever.
Here are a few reasons why a diverse workforce is beneficial:
The Value of a Multicultural Approach
Thanks to new technologies and the effects of globalization, the world is a much smaller place. We can now do business anytime, anywhere, with customers and vendors stationed in far-away global outposts. Companies that take advantage of these opportunities are better positioned for growth—and having a staff that reflects a variety of cultures is one of the best ways to understand the global market and make smart strategic decisions.
Moreover, if you want to effectively market products or services on a global scale, it is imperative to have an institutional understanding of the distinct cultures you wish to forge business relationships with. Multicultural talent can you give the insights you need to gain a personal edge with your customers.
Culturally diverse teams also bring a wider range of experiences and expertise to the table. Different viewpoints help spark creative exchanges—something that ultimately drives innovation. A staff where nearly everyone hails from the same background and has similar experiences, simply isn’t as dynamic as a staff with a wider range of experience and knowledge.
Workplace morale also benefits from a diverse approach. Recent surveys have shown that diversity is an important factor workers weigh when considering a job offer. By tapping into a global pool of applicants, companies also gain the ability to cast a wider net for talent. This is a critically important since the competition for the best workers has intensified to unprecedented levels.
The Net Gain
Top global executive search firms and companies seeking the best talent are working harder than ever to hire talented individuals. Ensuring the creation of a diverse staff promotes creativity and innovation, ultimately, makes workers feel happier and more secure — two key factors when it comes to employee recruitment and retention.