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. 
Diverse companies are 70% more likely to reach new markets 
Diverse companies are more poised to tap into larger markets and generate higher revenue than those lacking diversity and inclusion initiatives. 
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”. 
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.
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.
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.
Rachelle is a digital marketer with experience in project management and marketing. She crafts content supported by data, advocating innovative solutions for job-seekers and professionals involved in hiring.