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According to a Glassdoor survey, two thirds of job hunters indicated that diversity was important to them when evaluating companies and job offers.
A frequently cited example is from KFC in China, whose chicken was marketed as so tasty, you’ll “eat your fingers off!
Diversity Inc annually recognizes the top 50 most diverse companies and measures their success against the broader market.
Recent research from Mc Kinsey also underscores the fact that diversity is good for a business’s bottom line.
As our students develop into the global business leaders of tomorrow, they can certainly expect to encounter these 13 key benefits and challenges of cultural diversity in the workplace.
Benefits: Our culture influences the way in which we see the world.
For example, high quality and culturally sensitive translations of websites, brochures, and other assets are essential.
But these can be overlooked without the input of a native speaker.
For example, cosmetic giant L’Oréal attributes much if its impressive success in emerging markets to its multicultural product development teams.
Multiple voices, perspectives, and personalities bouncing off one another can give rise to out-of-the-box thinking.
By offering a platform for the open exchange of ideas, businesses can reap the biggest benefits of diversity in the workplace.
A recent study from Forbes echoed this notion, concluding that A multicultural workforce can give an organization an important edge when expanding into new markets.
This, in turn, fosters mutual respect among colleagues who also value the diverse culture, perspectives, and experiences of their team members.