The world is globally intertwined. We can see people from different countries and ethnicity everywhere. People are migrating to developed countries to enjoy a high quality of life. On the other hand, global organizations hire people that are multilingual despite considering that from where they belong. This creates cultural diversity.
Key Benefits of Cultural Diversity
Some organizations hire employees that are aware of the most spoken languages in the world and can communicate in any one of them. Making the work culture diverse is very important to compete in the fierce global markets. Let’s dive into some benefits of cultural diversity.
Cultural Diversity enhances Creativity and Promotes Innovation
Culture influences the perspective of the person from which he can observe the world. When employees from different cultures work together, they exchange their views and prospects, and then a few employees that are perceiving the world negatively can start perceiving it positively. Therefore, it is witnessed that diversity in the workplace enhances creativity. Further creative minds work best in innovations. It helps the employees to solve problems and meet customers’ requirements in new ways.
The Global Innovation Index GII ranks the nations according to their innovation skills. Bulgaria is ranked at 35th position among 132 nations. Thus to inculcate creativity and innovation in the organization, you must hire Bulgarian employees. Bulgarian translation services can be of great help in this regard.
Insight into the Target Market Helps in Business Growth
A diverse workforce helps the organization in expanding its business into foreign markets. For instance, if you want to expand your Italian business to Germany and you have an employee working in your organization from Germany. This employee can give you insight into the German market and help you understand the local rules and regulation and makes your products or services resonate with the target market. German translation services and understanding the cultural nuances can mitigate the barriers to entry in Germany. The latest research by McKinsey revealed that diversity is good for the company’s growth. 35% of companies with a diverse workforce earned high revenue than the national industries.
Understanding the Cultural Nuances helps in Targeted Marketing
Having an understanding of cultural nuances helps in devising an effective marketing strategy. For example translation of the company’s website and marketing material like brochures, taglines, and social media content is very important for the company’s success. It seems impossible without the help of native employees. Often the brand taglines’ intended message gets lost in translation. A very famous example of KFC is when they tried to enter the Chinese market. They translated the tagline finger licking good to eat into eat your fingers off. Another blunder was made in Italy. In the campaign for Schweppes Tonic water. They translated Schweppes Toilet Water. If KFC had hired a native Chinese employee or if Schweppes Tonic water had hired an Italian employee. Such blunders did not occur. Such blunders damage the company’s reputation thus employing a diverse workforce can help in devising local marketing strategies without blunders.
Access to a Diverse Talent Pool
The Glassdoor survey reveals that two third of job hunters consider diversity when they evaluate companies for the job. In the fiercely competitive world, if you invest in employee diversity then you can stand out in the list of companies having the right talent. The right talent helps in company growth Hiring a diverse workforce makes your business dynamic. Diversity also includes gender, religion, and ethnicity.
The hiring process is tedious. You have to shortlist the candidates from the database and then call for an interview. Taking interviews till the hiring of the employee includes time and cost. When an employee is on board, the company spends time and money on its training. If that employee resigns then it costs high to the employee. Diversity in the workplace sets the growth mindset of the people. Therefore employee turnover is low. If you are hiring an Italian employee then to train and retain him, you must take assistance from Italian translation services.
Diverse Workforce Performs Better
In a diverse workforce, people come up with different levels of knowledge, attitudes, and competencies. Therefore when these employees mingle and work together then they produce better results. In case of any problem, they brainstorm that increases their problem-solving skill. The research has shown that organization with cultural diversity is happier and more productive. In a homogeneous work environment, people become laid back in the status quo. On the contrary, diversity gives a boost to healthy competition and encourages employees to work to the best of their abilities. This in return makes the company processes more efficient. Working in a diverse team is harder but if the management of the company is good then there is no problem in working in a diverse environment.
Helps in Personal and Professional Growth
Diverse cultures attract ambitious people with a growth mindset. These people want to excel in life. Working in a diverse environment can be very enriching, you can come to know about different work ethics and traditions from around the world. Resonating with the similarities and differences can make you a better person. You can start recognizing people based on humanity despite being judgemental. You may visit Languex Translation if you are in need of Spanish translation services or in other languages.
Working in a diverse culture can give you more exposure to global work ethics that can give direction to your career.
Do you want to make your workforce more diverse? For this, you need to give compensation and benefits to the employees according to global standards. Diversity and inclusion in the organization can help exponentially in business growth. So, are you ready?