Having Diversity Brings More Creativity & Engagement To Your Business

Posted by FranSave on January 26, 2022

Encouraging diversity in your business can become a key ingredient for success. A growing amount of financial and statistical evidence corroborates this burgeoning reality. Let’s look at a few ways this is happening in the modern business world.

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Creative Benefits of Diversity in a Business Environment

  • Diversity Leads to Reflection, Which Creates Innovation
      • We’ve seen evidence that businesses classified as “inclusive companies” are said to be 1.7 times more innovative than comparable firms. This is not just a generalization either. The very large and influential tech giant, Google, credits much of its massive 15-year growth to its early commitment to workplace diversity. As much as anything, it’s an acknowledgment of how critical it is to include as many different individual backgrounds into the various decision matrices of business.
  • Diverse Crews Have Diverse Experiences
      • We don’t need to view this as a nebulous abstraction either. There is quantifiable evidence that diversity will help your business acquire a broader share of your niche market. Data suggests that when a business has a diverse membership, they have a greater than 70% chance of reaching newer markets with their products and services. This is likely the result of obvious demographic shifts too. By 2065, there will be no ethnic majority in the U.S., which means marketing and advertising efforts will have to adapt to the corresponding pluralism in society.
  • It’s a Way To Boost Empathy
    • Empathy is harder to achieve whenever artificial barriers stand in the way. More than 90% of CEOs believe there is a link between empathy and financial productivity. They also think that diversity is a good antecedent for empathy because it allows individuals to consider viewpoints and backgrounds, to which they would otherwise have no exposure. Employees and partners in business are more likely to perform more cooperatively when they have a deeper understanding of what makes their coworkers tick.

FranSave embraces and celebrates diversity among our business partners, coworkers, franchise brokers and other relationships. Diversity fosters creativity and imagination instead of stagnation If you’re looking for a business partnership we’d love to help you explore every angle of franchise businesses. Today, there are so many options for doing business this way. Call us to learn more at 844-476-7776.

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