In the past few years, major organisations like Apple, Google and Hewlett Packard have made conscious decisions to improve diversity at work. Most companies today issue diversity reports and actively promote inclusion efforts. But that raises the question: can workplace diversity both enhance corporate culture and boost the bottom line?
The Meaning of Diversity in the Workplace
Traditionally, diversity has included race, religion, gender, disability and sexual orientation and also age and education level. But in the modern business world, that definition is constraining. In 2020, diversity comes somewhat within is form of inclusive minute and engage everyone in organisation into one culture.
There’s a term for this perspective: DEI, or “diversity, equity and inclusion,” as shorthand. There are five key things to consider for businesses, especially human resources departments adopting remote work:
Multigenerational workforces, or the fact that offices are now filled with a mashup of baby boomers, Gen Xers, millennials and people from gen Z, each with their own needs and ways of working
Unconscious bias at work, or handling divergent worldviews influenced by more than ethnicity or socioeconomic status
Gender identity and expression altered the visibility of LGBT employees in the workplace
Employee engagement as a continuation of diversity and inclusion
Political expression and political thought diversity in workplaces; younger generations want the ability to communicate themselves politically
How Diverse Is the Workforce?
In the US, the labor force has become more diverse since the middle of the 20th century, according to data from the U.S. Census Bureau. Women in particular have made a huge leap in workforce representation, from 30 million in 1970 to over 75 million since. Asian and Hispanic workers have also made slight gains, although more support is needed to even the playing field for members of the LGBT community, as reported by most current U.S Bureau of Labor Statistics labor force participation outcomes.
How Does Diversity Impact Business?
Diversity, it happens, does pay. As researchers over the past 20 years have tried to measure the economic impact of diversity in the workplace, we’ve seen an evolving body of quantitative research on its financial implications. Together, it sounds like a pretty good argument for the value of diverse work places in terms of profit, culture and how they’re seen by the public.
Diversity Improves Company Performance
Diversity builds business. For one thing, companies with diverse workforces tend to outperform those that aren’t.
According to one study, organisations with diverse and inclusive decision making teams will outperform comparable organisations by about 75%, from now until at least 2022. The research showed teams are more likely to increase profitability when they are diverse and inclusive (50% for gender diverse teams, 33% for all inclusiveness).
A 2019 study found 66% of executives from organisations with business led diversity and inclusion aspirations agree that focusing on diversity is an important contributor to their company’s financial performance.
Companies with leadership that is more diverse have more innovation revenue, 45 percent of total revenue versus only 26 percent, according to a report by consulting firm BCG in 2018.
Diversity Enhances Employee Retention and Engagement
Studies have shown that morale, culture and employee engagement come to life in diverse, inclusive workplaces:
According to a survey, 83% of millennials were significantly more engaged at work when they felt included within their company.
Seventy percent of respondents in a 2019 poll said they’d consider searching for another job if their employer did not show a commitment to diversity.
And, according to a 2017 study, culture is center stage when it comes to turnover. It’s an important factor in retention of underrepresented groups and costs the tech industry more than $16 billion annually.

Diversity Enhances Your Brand’s Image To The Public
DEI is one for the entire business, even how potential customers see your business.
DEI may not have been a thing 50 years ago, but people want to know who made the product and who is involved in delivering the service. Do any workers look like me? Do they talk like me? Do they act like me? Do they share the same values that I do?
Physical characteristics of sales professionals can influence the buyer decision process, and the make up of your sales force can affect buying behavior.
Diversity as a Core Value
Diversity, of course, is not a panacea. Adding more diversity doesn’t magically resurrect a dysfunctional business or suddenly power breakaway innovation. To truly model DEI in the workplace, you can’t simply have a diverse team on staff; diversity and inclusion must remain aligned with your business as a core value.
As Jim Collins writes in Good to Great: Why Some Companies Make the Leap… and Others Don’t (2001): “Great leaders combine personal humility with professional will.”
DEI is not a policy. It must be something you work at, and it has to be a value of the organisation. It becomes what your executives actually model so that it grows into a deeply, ingrained, corporate organisational value that’s no longer up for debate. It then becomes part of the very fibre of the organisation.
To actually benefit from diversity in the future, a company has to build a system that creates or nurtures it, keeps creating or nurturing it, at every stage, all the way from hiring and staffing through leadership training. The size of the investment might scare off companies, but when they see the identified benefits to morale, culture and the bottom line in an ever more multicultural society it’s no brainer .
Building Diverse Teams in Melbourne and Beyond
Whether you’re in Sydney, Brisbane, Melbourne, or Perth, creating diverse and inclusive workplaces starts with the right training and development. Teams that understand unconscious bias, communication skills, and inclusive leadership are better positioned to make decisions that drive real business results.
Companies across Australia are investing in diversity training programs that go beyond tick box exercises. These sessions help teams understand the practical benefits of different perspectives, from improved problem solving to better customer service outcomes.
If you’re ready to make diversity and inclusion a core value in your organisation, targeted training sessions can help your team build the skills they need. From Adelaide to Parramatta, businesses are seeing measurable improvements in retention, innovation, and overall performance when they commit to meaningful DEI initiatives.
Sources
Collins, J. (2001). Good to Great: Why Some Companies Make the Leap… and Others Don’t. HarperBusiness.
U.S. Census Bureau. Labor Force Participation Data.
U.S. Bureau of Labor Statistics. Workforce Demographics Reports.
BCG. (2018). Innovation Revenue and Leadership Diversity Report.
The Kapor Center and Harris Poll. (2017). Tech Industry Turnover Study.