Cultural diversity is no longer considered just a buzzword. There are various benefits to diversity and companies are ready to reap the rewards. Building a team while keeping cultural diversity as one of the key priorities is more likely to lead to above average returns for your business.
As the discourse in many parts of the world gets increasingly divisive, in the UAE driving diversity, tolerance and inclusion is, and always has been, a huge priority.
This agenda underpins a shared set of values geared toward the vision of making the UAE the best place in the world to live and work.
Cultural diversity unlocks larger tech and digital talent pool
In a culturally diverse country like the UAE, where there are over 200 nationalities and 90% of its residents are expats, diversity also means giving your business a trading edge too.
According to recent studies, a culturally diverse company is more likely to have above average financial returns.
Whether that’s benefiting from native language skills, cultural understanding, local connections, or opportunities to boost the development of international business; embracing cultural diversity is profitable.
A culturally diverse workforce is happier and more productive
This is because diversity is the enemy of complacency as it stretches a team in positive ways, breeding a healthy competition. That atmosphere can fuel problem solving and lead to operational efficiency.
Being able to quickly adapt to market demand is critical to success, particularly if you’re a product or service focused business.
A more diverse workforce may well open opportunities for your company, giving you potential business advantage.
By leveraging a geographic and demographic knowledge base, and the broader skill set and experience you gain, you could exploit gaps in the market as well as expand your offer to a wider, international audience.
Help foster the development of new ideas
A diverse and inclusive workforce inspires creativity and encourages innovation. This global-kitchen-like dynamic helps to solve problems, including meeting client needs, in a new and exciting ways.
It is thought that this is because an international team brings with it a variety of viewpoints, based on each individual’s professional and personal experiences.
Cultural diversity helps attract top calibre candidates
If you want to shape your business with globally-minded, smart candidates then hiring a more diverse talent pool will make your business more attractive.
As part of an Employment Group, we know that many job hunters indicate diversity as important to them when evaluating companies and job offers. By demonstrating that your company is invested in nurturing an inclusive and multicultural environment, you will stand out.
It’s not just about attracting the talent either. No sir! By fostering mutual respect among professionals who share the values of diversity, it more likely you will create an atmosphere where employees want to remain.
A culturally diverse organization sets the perfect environment for colleagues to bond across the business, and if everyone feels equally respected and valued you get high staff retention…which is good for stability and great for business!
The final word building a culturally diverse company
It’s the opportunity for personal and professional growth that will be the persuasive lever for many. Working with people from around the world can be an enriching experience, as well as a chance for you to share your own personal experiences.
Bonding over similarities, appreciating difference, abandoning prejudices, and taking an ethnocentric view on the world makes us global citizens and advances tolerance and compassion.
If you’re interested in knowing more about diversity and how it can add value to your tech company, read our other blogs in this series: