35+ Workplace Diversity Statistics, Trends and Facts [2024]

November 17, 2023 0 Comments

What if a mere 15% increase in diversity could boost your company’s profits by 33%?

Workplace diversity provides a competitive edge, yet women still earn just 82 cents for every dollar paid to men.

Ethnic minorities also face gaps in pay and opportunity.

This exclusive report reveals the latest data on diversity in the workforce.

Here’s what you need to know:

Top Workplace Diversity Statistics: Editor’s Pick

  1. A diverse and inclusive workplace has 5.4 times higher employee retention. [1]
  2. By 2025, 75% of the workforce will belong to millennials. [3]
  3. Meanwhile, the U.S. workforce consists of 77% white workers. [4]
  4. 76% of job seekers preferred companies with diversity in their workforce. [2]
  5. Among the top 500 U.S. companies, only 7.4% are led by female CEOs. [5]
  6. Gender-diverse companies often see an average of $644.3 million in sales revenue. [6]
  7. Unemployment rates for African Americans exceeded the national average at 6.1%. [7]
  8. 48% of Gen Zers are racial or ethnic minorities. [2]
gender diverse companies have more in sales revenue

How Much Diversity is in the Workplace?

In the United States, 77% of the workforce is composed of white individuals.

But diversity isn’t just about skin color; it includes people of different ages, ethnicities, genders, sexual orientations, backgrounds, and religions.

Which is why we’ve curated the latest diversity report for you to explore.

According to a recent Census Bureau study, the largest population group in the United States is non-Hispanic white at 59.3%, followed by Latinos at 18.9% [9]

As of 2021, the U.S. workforce comprises of:

  • 77% White individuals [4]
  • 18% Hispanic or Latino
  • 13% Black individuals
  • 7% Asian

Asian Americans lead one of the highest positions in the United States [11]

In a recent study by federal workforce, management, professional and executive positions were found to be occupied by individuals from diverse racial backgrounds:

  • 54% Asian Americans
  • 41% White Americans
  • 31% Black Americans
  • 22% Hispanic Americans

Women make up 58.3% of the U.S. workforce [13]

jobs filled by women in January

In January, the Bureau of Labor Statistics reported that 517,000 jobs were added, with 50.9% of these jobs going to women. 

This marks 25 consecutive months of job gains for women, resulting in over 1 million more net jobs than in February 2020. 

Men, on the other hand, have gained over 1.6 million net jobs since February 2020. [13]

Approximately 6.28 percent of the U.S. workforce identifies as LGBTQ+ [13]

Around 7 million LGBTQ+ individuals are employed in the private sector and over 1 million in the public sector.

In the workforce, LGBTQ+ women represent:

  • 2.3% of entry-level positions
  • 1.6% in management

While LGBTQ+ men comprise:

  • 3.1% in entry-level positions 
  • 2.8% in management [13]

Census data predicts that by 2050, there won’t be a racial or ethnic majority in the U.S. [10]

New immigrants and their children will drive 83% of the working-age population growth between 2000 and 2050.

55 and older people represent the biggest portion of the United States workforce [13]

According to the U.S. Bureau of Labor Statistics, the breakdown of age is as follows:

U.S. workforce by age

Pew Research Center reports that 70.6% of people identify with a religious belief [14]

The Pew Research Center conducted a survey of 35,000 Americans, revealing that 70.6% of respondents identified as Christians. [15]

Additionally, the survey found:

  • 1.9% were Jewish
  • 0.9% Muslim
  • 0.7% Buddhist
  • 0.7% Hindu
  • 0.3% practiced other world religions

While a significant 22.8% were unaffiliated with any religious group. [15]

Are Women and Men Paid Fairly and Equally?

Despite continued initiatives to close the gap, women still earned 17% less than men in 2022.

This report on gender pay gap statistics will present a comprehensive overview of the latest data and the key factors shaping the wage gap between men and women.

women earn 82 cents for every dollar men earn

On average, women earn only 82 cents for every dollar earned by men [16]

This gap is even wider for women of color, as African American women earn just 60 cents and Latinas earn a mere 55 cents for every dollar earned by white, non-Hispanic men.

What causes the gender pay gap?

The gender pay gap is a complex issue, influenced by factors like:

  • Discrimination
  • Age
  • Working hours
  • Parenthood (including time away from work)
  • Occupational segregation
  • Flexibility of work
  • Education
  • Job types

Women often have responsibilities outside of work, limiting their ability to take on overtime or irregular shifts.

When female executives change companies, they typically see their salaries rise by 25%, while male counterparts experience a 9% increase [16]

Despite efforts for pay equality, women still earn less than men in nearly every job, spanning from entry-level roles to top executive positions.

The gender pay gap for entry-level roles stands at 18.4% [16]

This gap is particularly glaring in high-demand fields like engineering and technology, where men with similar qualifications can earn over $4,000 more in entry-level positions.

In some fields, women actually outearn men [16

Female compliance officers and vocational nurses make 3% more than their male counterparts, while female wholesale and retail buyers earn 2% more.

While gender pay disparities persist in many job roles, there is one exception: teaching assistants.

Men and women in this role earn an average of $34,424 per year, with equal pay. 

Educational guidance counselors also show a minimal difference, with men earning just $104 more on average. [16]

Is Closing the Gap Possible?

200-year to close the gender gap

The World Economic Forum’s prediction that it could take two centuries to close the gender pay gap has raised alarm.

In response, Melinda Gates, co-chair of the Bill & Melinda Gates Foundation, has committed 1 billion dollars to drive gender equality. [17]

track gender equality

Furthermore, McKinsey & Company’s research anticipates that closing the gender gap by 2025 could contribute an additional $28 trillion to the global economy. [20]

What is the Importance of Diversity?

diverse teams make better decisions

Studies confirm that diverse teams outperform non-diverse ones by making superior decisions in 87% of cases.

The collaboration among people with diverse backgrounds, cultures, and experiences fosters unique perspectives, enhancing creative problem-solving and innovation.

These statistics will prove it.

Gender diversity enriches problem-solving through varied perspectives

According to UNESCO, women account for 28.8% of the global Research and Development workforce. [18]

Notably, Central Asia leads with 48.1% female representation, while North America and Western Europe rank fifth at 32.3%.

Sub-Saharan Africa follows closely at 31.3%, while East Asia and the Pacific have 23.4% female researchers, and South and West Asia have 18.5%. [18]

Diversity boosts profits!

Businesses with higher gender and ethnic diversity tend to surpass their rivals. [18]

A McKinsey & Company study revealed that companies in the top quarter for gender diversity were 21% more likely to achieve above-average profits.

When it came to ethnic diversity, this figure jumped to 33%.

Multiplies innovation by 20% [18]

According to Deloitte, teams that are diverse in terms of cognitive and demographic factors can increase innovation by 20% and identify and mitigate risks by up to 30%.

Reduce employee turnover

A study from Deloitte University reveals that 83% of millennials are highly engaged in their work when they feel their organization promotes an inclusive culture, in contrast to just 60% engagement when such a culture is lacking. [18]

Diverse companies are 70% more likely to reach new markets [19]

Diverse companies are more poised to tap into larger markets and generate higher revenue than those lacking diversity and inclusion initiatives. [11]

For example, the entertainment industry loses an estimated $10 billion annually due to systemic inclusivity issues and the underrepresentation of Black communities in TV and film.

Workplace diversity attracts more candidates

According to a National Association of Colleges and Employers survey, 79% of new graduates consider work diversity “very important”. [11]

What Do Workers Say on Diversity?

We’ve compiled what employees thought of having diversity in their workplace.

And here’s what we found:

  • In a 2020 Glassdoor survey, 76% of job seekers and employees consider workforce diversity crucial in job evaluations.
  • A CNBC survey revealed that 80% of respondents desire employment at companies that prioritize diversity, equity, and inclusion.
  • Half of U.S. employees seek increased investment in workplace diversity and inclusion.
  • 40% of U.S. employees believe their companies should be more inclusive in hiring LGBTQ+ community members.
  • In a McKinsey survey, 44% of women said they turned down job opportunities due to concerns about inclusivity within the organization.
40% employees want more LGBTQ+ hiring

FAQs about Diversity in the Workplace

What are the benefits of workplace diversity?

Workplace diversity fosters innovation, drives better decision making, boosts profits, attracts talent, and expands access to new markets. Diverse teams outperform non-diverse teams by making superior decisions in 87% of cases.

How does gender diversity improve problem solving?

Gender diversity introduces varied perspectives which enriches problem solving. Research shows businesses with higher gender diversity are 21% more likely to achieve above-average profits compared to less diverse businesses.

How big is the gender pay gap?

In 2022, women earned 82 cents for every dollar earned by men. For women of color, the gap is even larger, with Black women earning 60 cents and Latinas earning just 55 cents for every dollar earned by white, non-Hispanic men.

Does workplace diversity help attract talent?

Yes. 79% of recent college graduates say workplace diversity is very important when evaluating job offers. Diverse and inclusive workplaces have 5.4 times higher employee retention rates.

How does ethnicity impact business performance?

Companies in the top quarter for ethnic diversity are 33% more likely to see above-average profits. Workplace diversity expands access to new markets and customers, with diverse companies 70% more likely to penetrate new markets.

Summary

In 2023, workplace diversity drives innovation, productivity, and success. 

The stats in this article underscore its importance.

Embracing diversity not only boosts finances but also fosters a fair and inclusive society.

Stay tuned to our website for the latest statistics that can help you prepare for the future.

Sources

  1. Great Place To Work. Why Is Diversity and Inclusion in the Workplace Important?
  2. Insight Global. 17 Diversity in the Workplace Statistics Companies Need to Know
  3. Team Stage. Diversity in the Workplace Statistics: Inclusion Issues in 2023
  4. Builtin. 50 Diversity in the Workplace Statistics to Know
  5. Novorésumé. Diversity in the Workplace | All You Need to Know in 2023
  6. Commercient. Grow Your Business: Reaping the Benefits of Workplace Diversity
  7. BLS Reports.  Labor force characteristics by race and ethnicity
  8. The House of Commons Library. Disabled people in employment
  9. USA FACTS. How has the population changed in the US?
  10. CAP20. The State of Diversity in Today’s Workforce
  11. Ziipia. 60+ Incredible Diversity in the Workplace Statistics [2023]
  12. National Women’s Law Center. Women Gain 263,000 Jobs in January
  13. HR UNIVERSITY. 30+ Important Diversity in the Workplace Statistics 2023
  14. Ruul. Promoting religious diversity in the workplace
  15. Wake Forest University. Promoting Cultural Diversity in the Workplace: Statistics, Tips and Resources
  16. Forbes Advisor. Gender Pay Gap Statistics In 2023
  17. Philippine Institute for Development Studies. The gender pay gap and how we can overcome it
  18. Diversity for Social Impact. Why is Diversity Important?
  19. Power to Fly. Diversity at work and why it matters: A 2023 guide
  20. FDM. 5 Reasons Why a Diverse Workforce Drives High Performance

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