The benefits of inclusion and equality are numerous, and these diversity in the workplace statistics can prove it. Being a diverse company means employing people with various characteristics such as race, gender, age, religion, etc.
Companies that have more diversity are not only seen as more desirable to work for, but they also manage to outshine and outperform their competitors. It’s beneficial for every organization to have a broader perspective, which will portray a positive image to the public eye.
Having such an approach to doing business can only increase your employee’s productivity, services improvement, client list, and profits.
Workplace Diversity Statistics (Editor’s Pick)
- 57% of employees want to see their company increase diversity
- 6.6% of all Fortune 500 companies have women as their CEOs
- 69% of executives believe that diversity and inclusion are the most critical issues
- Companies that had higher female members in the top management sector saw higher returns
- Diverse management boosts revenue by 19%
- Over 90% of CEOs are white men
- Men are 30% more likely to be promoted to a managerial role
- 34% of people believe that male executives are better at risk assessment
Diversity Facts and Statistics
1. Inclusive companies are more likely to lead and capture new markets.
Around 70% of diverse companies are better positioned to capture new markets. And with the higher number of markets comes much better performance and a lot more money.
2. 43% of companies with diverse management exhibited higher profits.
Among the top facts is the increase in profits. Those types of companies have notably enjoyed a hefty increase in profits compared to their competitors.
3. Companies with racial and ethnic diversity are 35% more likely to perform at a higher level and have increased ROI.
This information goes hand in hand with the increase in profits, as it is increasingly clear that the lack of diversity in the workplace can only hamper your work and your company.
4. Diverse teams are 87% better decision-makers than individuals.
Teams that had geographical diversity, members of different genders and races, as well as an age gap of at least 20 years, were recorded as making better business decisions.
5. Companies employing an equal number of men and women manage to produce up to 41% higher revenue.
Gender diversity in the workplace statistics show that companies with diversity issues perform worse than their counterparts without such problems. According to crucial statistics and revenue growth, when men and women in the workplace are treated equally, they perform better.
6. Highly inclusive companies are more likely to hit their financial target goals by up to 120%.
When companies improve the working environment and create an inclusive workplace, people not only feel empowered, but they also band together and work harder to meet the company’s target goals.
Moreover, the positive effects of such improvements are pretty much evident. As the latest diversity in the workplace statistics suggest, these companies see 1.4 times more revenue than their competitors.
7. A staggering 78% of people think that diversity and inclusion offer a competitive advantage.
In today’s modern global business environment, the diversity issue has become overly important. Even employees understand the importance of this matter. Over 75% of people believe this can lead to a competitive advantage, while about 39% truly believe it offers a significant advantage over the competition.
Minorities in the Workplace Statistics
A much more challenging topic many companies endure is discrimination in the workplace, regardless if it is subtle or overt in any way. Discrimination can indeed hamper an employee’s productivity and work experience. This usually happens to members of a minority group of racial, ethnic, color, or other classification.
Most of the time, it occurs when members of these groups are treated differently compared to their colleagues or other employees, mainly because they belong to those groups.
For example, age diversity in the workplace statistics prove that if these issues aren’t addressed the right way, a company cannot move forward and be a leader in innovation.
8. Racially diverse teams provide 35% better performance compared to their competitors.
Today, we live in a world that is deeply connected and global. Companies with impeccable diversity and inclusion perform three times better than less diverse companies and report financial returns up to 35% higher than national industry medians.
9. US workforce diversity statistics show that 20% of workers are of Hispanic origin.
The percentage of Hispanic workers has increased over the past 30 years, and it is predicted that this number will continue to rise. Many Americans celebrate the Hispanic Heritage Month from September 15 until October 15 as the month that honors the contributions of all Latin and Hispanic Americans to the history of the US.
10. Companies with high racial diversity see 15 times more revenue and sales.
Workplace diversity trends show that diversity is of great significance when it comes to increasing sales and revenues. A study found that companies with the highest levels of racial diversity reported up to 15 times more revenue and sales generation.
11. Women make up 40% of Netflix’s workforce.
Netflix is one of the large companies that understand that workforce diversity is essential. Also, it reported an increase in black and Hispanic workers. Still, women account for under 35% of technical jobs.
12. 95% of CEOs are white men.
Gender discrimination in the workplace is evident. Numbers suggest that there is still an enormous amount of bias regarding the hiring of women. Such figures further prove that the latest diversity and inclusion statistics are not just facts and need to be taken seriously. The total number of men named David and John as CEOs of Fortune 500 companies (9.8%) is greater than the number of women as CEOs of all Fortune 500 companies (4.1%).
13. 41% of all managers state “being too busy” as a reason to implement any kind of diversity and inclusion initiatives.
It is safe to say that this is not how a business should operate with the intent of moving forward. Executive teams might want to invest time in addressing this issue. Facts about diversity in the workplace show that it’s detrimental to a company’s success.
14. Google stated that, by 2025, workers from under-represented groups would fill 30% of leadership positions.
Minorities in the US are less often being called up for interviews even if they have a flawless resume, made on the best paid or free resume builder. It makes this statistic relevant for immediate action to be taken for every person to have an equal opportunity to succeed in life. Managers or employers should consider such matters and prevent bias from interfering with the hiring processes.
Other Diversity in the Workplace Statistics
15. The millennial generation is 16% more diverse than baby boomers.
Around 72% of all baby boomers are white. While the millennial generation accounts for more individuals, only 56% of them are white.
16. By 2025, the workforce is expected to account for up to 75% of the millennial generation.
As diversity in the workplace stats show, millennials offer a vast opportunity for America’s corporate future, primarily due to this generation’s approach to life and culture.
In the coming years, most Americans will strive to demonstrate a strong desire for society’s well-being and be less troubled for individual success.
17. By 2044, the current “minority” groups will reach a “majority” group status.
Diversity is not just about accepting job seekers from various demographic backgrounds in the workplace. Innovation and performance play a considerable role as well. Companies that exhibit both gender and ethnic diversity see an increase in performance by up to 15-35%.
18. 83% of all millennials are more likely to be actively engaged if they believe their company stimulates a diverse and inclusive culture.
According to cultural diversity in the workplace statistics, millennials believe programs aimed at diversity and inclusion can improve business opportunities.
Fairness and the acceptance of different cultures and demographics can only boost productivity, lead to innovation, collaboration, and outstanding teamwork.
19. According to the latest data, the US unemployment rate stands at 6.3%, including many cultures and age groups.
Not all labor differences among associated races and ethnic groups are measurable. Looking at many workplace diversity statistics, almost two-thirds of all executives rated diversity as the most crucial issue. They did their best to lower the rate across all races and ethnic groups.
20. A survey on cultural diversity in the workplace shows compelling statistics that up to 80% of people valued diversity.
People agree that a diverse workforce will lead to more ideas and innovations. Companies look to improve in this area and value the importance of the matter because it benefits their current and future employees.
Workforce Diversity Statistics – Conclusion
A diverse and inclusive workforce includes people of various characteristics. It implies that a company is employing a wide range of unique and diverse individuals.
This was not always the hottest subject of discussion among HR representatives, but it has become a major goal for all companies in the past few years. Companies should use tools like a background check instead of hiring people based on their skin color, race, or ethnicity.
A business’ benefits of adopting diversity and inclusion policies are numerous, as it can grow its talent pool, improve employees’ performances, acquire valuable and various talents, skills, and experiences.