The business benefits of diversity

Spiers, Carole
June 2008
Management Services;Summer2008, Vol. 52 Issue 2, p26
Academic Journal
The article presents the results of "Harnessing Workforce Diversity to Raise the Bottom Line," a study conducted by independent research centre CREATE. The study, which covered 500 companies operating in Great Britain, U.S. and Europe, reported the following benefits of diversity in the workplace: higher staff retention, reduced recruitment costs, more satisfied customers, access to a wider customer base, better supply chain, and access to new ideas on process and product improvements. The study also identified two prevalent obstacles to workforce diversity: the culture of long working hours and ingrained attitudes that made it difficult for senior managers to manage people who were very different from them.


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