Embracing The Benefits of Workplace Diversity

Embracing The Benefits of Workplace Diversity

As Pride Month concludes, the words of Sec. of Labor Tom Perez bear repeating: "Protecting the workplace rights of LGBT workers is a moral imperative."

In 2015, the Executive Order on LGBT Workplace Discrimination went into effect, guaranteeing LGBT workers freedom from discriminatory hiring practices when applying for federal contracting and/or subcontracting positions.

Private employers following the lead and proactively working to foster a workplace that is more inclusive will find tremendous benefits -- both for the employer and employees.

For example, a McKinsey report. found the top quarter of employers who emphasized diversity hiring practices found a likelihood 35 percent higher for financial returns. That should come as no surprise, as a workplace more reflective of the demographics of the world around it is more likely to cater to a larger audience.

In turn, a more diverse workplace often functions as a better workplace for employees.

To wit, a Forbes study of 312 businesses found diversity hiring practices can benefit long-term employee retention. With turnover on the rise in most sectors, diversity creates a more stable and appealing environment for employees of all backgrounds.

Both employers and job seekers can tap into the benefits of diversity hiring through the CareerCast Diversity Network database of jobs.