A diverse workplace is beneficial for everyone. When you hire people who have different backgrounds and a wide variety of experiences, you get different perspectives. These perspectives can help you relate better to your clients and customers and even improve your offerings. If you have been considering overhauling your diversity and inclusion policies, there are a few things that you should know about diversability (diverse ability) in the workplace.
1. The Unemployment Rate is Higher for People with Diversabilities
A study conducted by the Bureau of Labor and Statistics in 2018 found that 8% of people with diversabilities were unemployed, whereas the average rate for all Americans was just 3.7%. While some individuals with diversabilities are unable to work, many others face discrimination
Creating a workplace that is diversability-friendly and inclusive can help begin to fight this statistic and benefit both individuals and businesses.
2. Job Reviews Are Starting to Reflect Company Diversity
When employees are searching for a new company to work with, they often check reviews from clients as well as current and former employees on sites like Glassdoor. An important element of the organization for many is the company culture.
According to Glassdoor, employees speaking negatively of a company’s diversity and inclusion policy increased from 25% to 32% between 2008 and 2018. It is becoming more important for businesses to look at these policies and begin improving them in order to find and retain qualified employees.
3. Your Diversability Policies Can Affect Your Bottom Line – For the Better
In 2018, Boston Consulting Group conducted a research study that showed that companies with a more diverse leadership team had, on average, a 19% higher revenue than other businesses. The study also found that innovation increased significantly on these teams.
Bringing people in who think differently and view problems through a unique lens encourages creativity and inspiration for the whole team.
4. The Pool of Potential Employees with Diversabilities is Over 40 Million
Did you know that over 40 million people currently identify as having a diversability? This group of individuals makes up a significant portion of the population in the U.S. – over 12%.
In 2015, the median income for this group was less than 70% of the median income for those without a diversability, largely due to discrimination in the workforce.
Creating a diversity and inclusion policy that encourages people with diversabilities to apply for jobs within your company can take some time and may require looking closely at your company culture and values. However, it is something that you should not neglect.
Nearly 77% of job candidates said that they seriously consider a company’s culture before accepting an offer to work there. You want to ensure that you are attracting the right candidates to your business and do not miss out because your culture is lacking a diversity and inclusion component.
If your organization needs help creating and implementing a diversity and inclusion program, Applied Development can help. Reach out to us today at 410.571.4016 or contact us on the website for more information.