Diversity is the number of different types of things in a given system. The term diversity has multiple meanings, including but not limited to: racial diversity, cultural diversity, gender diversity, and environmental diversity. Biological diversity or biodiversity is often used as a synonym for species richness; the number of different species in an area.
The notion of diversity encompasses acceptance and respect. It means understanding that each individual is unique, and recognizing our individual differences. These can be along the dimensions of race, ethnicity, gender, sexual orientation, socio-economic status, age, physical abilities/qualities, religious beliefs etc. Diversity also includes valuing diverse perspectives and experiences to create an inclusive environment that encourages everyone to reach their fullest potential.
Inclusive environments are those that recognize and value people’s differences. They leverage diverse perspectives to solve problems creatively and effectively while also promoting a sense of belonging for all members. An inclusive environment embraces change by continuously learning from others’ cultures and backgrounds to build upon its own strengths. Such environments provide opportunities for all individuals to develop their skills and talents so they can contribute fully to the organization’s success.
Organizations with high levels of inclusion are more innovative because they have greater numbers of ideas being generated by employees from diverse backgrounds coming together around common business objectives In fact, studies have shown that organizations with above-average levels of demographic diversity are 35% more likely to have financial returns above their national industry medians . Additionally , ethnically diverse companies are 70% more likely than non-diverse firms to capture new markets . The ability for organizations to innovate comes largely from their capacity to generate new ideas which require original thinking – something that is enhanced by having employees with varied backgrounds working together . Studies show that cognitively diverse teams outperform homogeneous ones , especially on complex tasks . For example , one study showed that racially diverse juries were better at deliberating cases than all-white juries . Other research has found similar results in terms of team performance : one study showed that when women were included on engineering teams , the quality rating assigned by outside observers went up ; another found evidence that increasing ethnic heterogeneity improved team output on various measures such as number of ideas generated during brainstorming sessions ; yet another showedthat stock market analysts who disagreed about stock recommendations outperformed those who agreed 80%of the time . A survey taken after 9/11 foundthat people who had friends or family members from different religious groups were significantly more likelyto report feeling “very proud”to be American compared with those who did not have close relationships across religious lines . Finally , there is evidence suggestingthat people who live in cities with large immigrant populations tend themselves be more open mindedand tolerant towards outgroups ; this finding provides support for what has been termed “the contact hypothesis ”–the idea that increased contact between groups tends lead decreased prejudiceand hostility between them .
All these findings demonstrate how important it is for organizations – whether public or private sector , profit or nonprofit –to value inclusionary practices if they wish reap benefits associated with innovation and creativity