Diversity training can improve your bottom line

By Henry Sanders Jr.

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It is clear that corporate diversity contributes to the strength and competitiveness of an organization. Apart from the social good that diversity initiatives bring, an organization's diversity lends concrete benefits to the bottom line.

Diversity is not just an altruistic theory but an effective corporate strategy with a high return on investment. In fact, the data are staggering. In the next 15 years, the three major ethnic populations in the United States (African-American, Hispanic, and Asian-American) will grow at six times the rate as non-ethnic populations. According to World Bank figures from 2004, if ethnic populations in the United States joined to form their own country, it would have one of the world's top economies.

It is clear that American society today is a mosaic of differences � differences in culture, skills, religion, skin color, ethnicity, thinking, communication styles, language, education levels, talents and goals. In order for companies to successfully capture the benefits of these unique qualities, and for communities to flourish, they must learn to take advantage of these differences to create a culture that encourages diversity, accepts differences, and attracts talent and clients.

Stan Davis, COO of iMpact HR Consulting, a Florida company that is about to open an office in Madison, agrees: "When our region is competing with other regions to attract businesses, one of the most important things businesses look for is the quality of life for their employees. A big part of that is the diversity in the community."

While many corporations have gotten the message that diversity is good for their bottom line, fewer have taken the next step by integrating diversity into their core principles and business functions. "Diversity training on the front end is beneficial for managers and people within their workplace so they are prepared for dealing with people from different backgrounds, and prepared to deal with situations that might occur in a diverse workforce environment," Davis said.

The goal is for an organization to achieve true diversity of ideas, creating an environment where the diversity of both customers and employees is valued and used.

A successful diversity initiative that reaches this goal must motivate employees and make them feel that ideas and contributions to the organization are appreciated and respected. Organizations must also be flexible and examine internal policies and procedures to create better job development opportunities for a diverse workforce and better leverage each employee's unique talents in ways that benefit the business.

As our community continues to change, successful organizations are those that learn to encourage and incorporate diversity into their core business practices. Companies that have successfully made diversity a priority continue to use diversity training to teach their inclusive concepts to managers, employees, suppliers, vendors and customers. The successful organizations are those that recognize the strength of a diverse workforce that is equipped to meet the needs of and create effective products and services for an increasingly diverse population.

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