When it comes to how you hire employees, is diversity important to you? Many businesses and companies are making diversity a key pillar in the way they hire – which is a good thing. Jackie Summers, an author, entrepreneur, and creator of Sorel Liqueur, shared why diversity is important for businesses on The Growth Lab Show.
Here are a few of the reasons he provided.
You can increase your profit. Seriously!
According to Forbes, companies with more diverse representation are more likely to achieve greater profits – 19% more, in fact! So by diversifying your company, you can actually make more money. How? The U.S. Chamber of Commerce Foundation credits a few reasons:
- Opportunities to enter new markets
- Opportunities to improve products and services
- Opportunities to maintain brand reputation
And when it comes to your business, you want to make a decision that's profitable, right? As Jackie says: "If you want to increase your bottom line, invest in women and invest in people of color."
You can avoid easy-to-make mistakes.
Have you ever seen an ad and thought “wow, how did they let that one get out the door?” It can be so obviously offensive to you, but when a group of people who look and think nothing like you made the ad, it starts to make sense. When you have a diverse group of people in the room while you make decisions, you can avoid some of these mistakes. Why? Because you’re giving a voice to a group that more closely represents your consumers.
So, now that you know why you should be inclusive in who you’re hiring, download the Lab Notes to understand how to put it into practice.
And, listen to the full episode on Apple Podcasts or below to hear Jackie's unique story and perspective: