Driving innovation with diversity

In the evolving world of work and ever-changing demands, purposeful and continual innovation can help businesses stay ahead. Successful innovation needs engaged teams, an open culture, flexibility, and according to research, diversity.

Research published by Deloitte suggests that organisations with greater diversity were more innovative than less diverse organisations, giving them a competitive edge. Deloitte’s “Diversity and Inclusion Revolution” includes the findings of seven major studies on diversity and inclusion in the workplace.

The report highlighted how organisations with diverse and inclusive cultures are: 6 times more likely to be innovative and agile, 8 times more likely to achieve better business outcomes and twice as likely to meet or exceed financial targets. However, the authors noted that diverse teams alone do not equate better innovation or business – inclusion must be equally prioritised. This means that everybody in the team should be valued, respected, and empowered to speak openly. Without these factors, innovation would be futile.

When innovating, you want different, creative ideas to consider. More diverse teams mean that people with different experiences, thoughts and backgrounds can input their ideas, resulting in solutions that perhaps would not have occurred to you. Diverse and inclusive work environments are not just good for innovation but also, just as importantly, a positive and engaging workplace. If your workplace would benefit from diversity and inclusion training, please contact Neoskill.