Diversity has recently emerged to be one of the aspects every employee seeks from the workplace, and every employer wants to offer to their current and potential employees, The fact is that the maritime industry would benefit from an inclusive and diverse working environment, something that has been confirmed by numerous studies. So how does exactly diversity help any industry, and why should it be a must-have for maritime?
Diversity is not just a feel good move, as multiple studies have shown that diversity leads to more creative teams, increasing the company's bottom line. In fact, according to McKinsey, companies ranking in the top quartile of executive-board diversity were 35% more likely to financially outperform the industry medians.
What is more, the same report notes that companies in the bottom quartile fur both gender and ethnic/cultural diversity were 29% less likely to achieve above-average profitability, while companies in the top-quartile for diversity on executive teams were 33% more likely to have industry-leading profitability.
Reports like these confirm the significance diversity has to the work place, and of course to the employees. Let's check how exactly diversity benefits any industry, and of course shipping
1. Diversity enhances productivity
Productivity is higher where employees are appreciated and recognized, thus helping them contribute without any sense of abandonment. The fact is that workers from different cultural background examine a problem or task at many diverse levels. This helps the company achieve better efficiency, boosting the employees' productivity.
2. More innovation
We live in a world were constant change is a fact, which in turn requires innovation in order to adapt and, basically, survive another day. Innovation aims to produce effective and unique ideas, in order to stay ahead of the changes, and remain relevant in the business and more.
A diverse workforce can help any company produce more creativity and innovations, as different background and beliefs lead to different ideas. Taking this into consideration, if the workplace encourages brainstorming by everyone, sooner than later an idea will come up that will lead to the organization's growth.
3. Diverse talent pool
Many leaders globally are highlighting the importance of hi ling diverse teams, as having to pick from a larger pool, it would be easier to find those with the best talent. If that doesn't happen, and employers choose from a narrow talent pool, then it is very possible that they will miss out on the widespread possibilities and customer base.
In addition, if the word is around that a company hires diverse candidates, it could help achieve better employee retention. This is presented by a survey by Glassdoor, according to which 57% of employees want their companies to be more diverse.
4. No more unconscious biases
Everyone makes presumptions based on preconceived notions. These assumptions take place without even us noticing them, and that is why they are called unconscious biases. The fact is all of us, at some point in our lives, have judged another person unconsciously from the colour of their skin, their ethnicity, and their gender.
These biases many times stop someone from hiring the best talent, and that is why companies with diverse teams help fight these biases very effectively
5. Diversity improves global reputation
Almost every organization seeks diversity in the workplace to be relevant in the workforce. The criteria for this are not only to keep up with some trend or even diversity policies, but also improve their reputation across the industry.
If a company has increased diversity in their workforce, it could lead to increased profitability and equal opportunity for the company and its employees. This is a very important reason for organizations to commit to diversity and enjoy a global reputation. This will eventually improve the organization's brand and respect for its ethics.
6. Better company culture
Company culture is the personality of a company, as its beliefs and actions in internal and external matters tell a lot. As a result, the behavior of the whole of the organization, from the leader to the employees, determines the way they perform.
As a matter of fact, several statistics have shown that diverse workplaces improve the company's culture. What is more, employees enjoy working with diverse groups, as it keeps away unconscious biases. This will help build respect, healthy relationships, while it can also broaden the employees' perspective.
7. Millennials: The new workforce
Millennials not only want satisfaction from their workplace, but they also have the need for their work to reflect the society they live in. Again, according to Glassdoor, 67% of job seekers consider diversity a key factor during their evaluation of companies. Highlighting the importance millennials give to diversity, another survey reveals that 83% of millennials are engaged when their organization has a diverse work culture.
As millennials are the latest entry in the workforce, they have a unique look for diversity. Millennials consider that every person is a mix of identities, experiences, ideas, and opinions, while they think it is very important for them to break the norms
How can maritime benefit from diversity
Diversity brings positive news for the maritime industry, which can learn from the other sectors who are more advanced in the diversity and inclusion. By using lessons learned and successful practices from other sectors, shipping will be able to move forward with the best practice programmes and methodologies.
In addition, educating companies as well as employees within the shipping industry at all levels, regarding the benefits of inclusion and diversity is very critical. Every organization and individual should bear in mind that diversity is possible irrespective of a company's size or budget. However, in order for diversity to be really effective, it requires involvement at every level.
Finally, having established a robust diversity policy should be supported by effective monitoring, systems and processes, in order to build a truly inclusive company. For this reason, hiring strategies, learning and development planning, as well as reviewing working arrangements are vital instruments in order for maritime to provide the light environment tor diversity to flourish, and be sustainable.
"Getting the right people and the right chemistry is more important than the right idea."
-Edwin Earl Catmull, President of Pixar and Walt Disney Animation Studios
Source: Safety4sea