There is nothing a company can do to benefit from it yet

Dealing with diversity. how can companies benefit from it? >>>>> Advantages of diversity

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1 An initiative of the European Union Dealing with diversity how can companies benefit from it? Frequently Asked Questions Victims' Guide Getting Started Benefits of Diversity Recognizing Discrimination >>>>> Benefits of Diversity

2 New guidelines prohibit discrimination, harassment and victimization of workers on the grounds of race, ethnic origin, disability, age, sexual identity, religion or belief. According to the new guidelines, all companies must take precautions to avoid discrimination in these areas in advance. Many people today are convinced that a diverse workforce can be profitable for both the company and the individual employees. For many companies, compliance with the planned national legal norms is only the first step in a process of rethinking, which can result in further measures. But a diverse workforce doesn't automatically pay off for a company. Diversity must be managed effectively in order to generate a diversity dividend. What do we mean by diversity? By allowing and promoting diversity, you give people from different social groups the security that they do not have to suffer from discrimination. At the same time, the differences and similarities between employees can contribute to the positive development of the individual, the company and society as a whole. Accepting diversity and ensuring fairness and equality is not only a question of human rights, but also the key to successful action in a globalized world. Why is diversity on the agenda? Not only the guidelines, but especially the social and economic changes in our society make it imperative for companies to think about the diversity of their workforce and to manage it effectively. Demographic change All European countries are experiencing a dramatic change in their population structure. This also changes the people we hire, to whom we deliver goods and services, and from whom we purchase goods and services. A few examples:> An increasing number of women are entering the labor market, and the number of women entrepreneurs is also increasing. > Migration has resulted in a multicultural and multiethnic population across Europe. > People with disabilities, gays and lesbians, as well as other groups, put certain ways of thinking to the test in companies. > The average age of the working population is increasing, which means that there will be fewer younger and more older people in the workforce. These changes mean that traditional work patterns, consumption habits and ways of thinking are often out of date. Successful entrepreneurs recognize these changes and make use of them. Changing expectations More and more people are grappling with the social and ethical dimension of their work and the products they consume. The fair treatment of organizations with their employees is a central criterion. Employees themselves also have higher expectations of companies in terms of fair treatment and the 2nd

3 flexible response to your ideas and wishes. Rapid changes mean that culture, social values, taste and needs can no longer be viewed as something given. Companies have to respond more intensively to these changes in order to be able to survive successfully in the market. Because investors and company founders are increasingly making a diverse workforce a condition for their investment. What is the advantage of efficient diversity management? The latest research from companies in Europe shows how efficient diversity management can bring benefits to companies in the private, public or non-profit sector, regardless of the size of the company. Diversity management strategies can help create a connection between external and internal company processes. Even if every company has to determine its own priority, the following advantages can be mentioned:> Recruiting and retaining people from a wide range of talents> Reduction of the costs arising from fluctuation and lost work time> Contribution to the flexibility and sense of responsibility of the employee > Strengthening the commitment, the work ethic and the independent productivity of the employees> Better handling of the effects of globalization and technological changes> Promotion of creativity and innovative strength> Training and higher competence in intercultural communication> Better understanding of the needs of customers and customers> Support in the development of new products, services and marketing strategies> Improvement of the reputation and image of the company with external interest groups> Use of potential bena disadvantaged groups and the development of social cohesion within the workforce. Some examples of possible ways in which companies can act. Companies 1 A financial service provider introduced a series of flexible work measures for men and women that took greater account of the needs of employees. In doing so, the company responded to the professional and private obligations of employees, which changed in the course of their working lives, and thus made it easier for them to reconcile both areas. For example, it has been made easier for women to return to work after maternity leave, employee satisfaction has been increased and fluctuation costs have been reduced. Company 2 By building partnerships between local businesses and groups of people with disabilities, the workforce has become more sensitive to this issue and services have been adapted to the needs of customers with disabilities. Sales of the products to people with disabilities increased, while the shopping environment was improved for all customers. Company 3 In collaboration with the trade unions, this engineering and technology company implemented a committed diversity policy with programs to combat 3

4 Harassment and promoting respect in the workplace through. As a result of this policy, the recruitment of women with academic training has increased significantly. The company was thus able to open up a new area of ​​work for women in which they traditionally represented only a small minority. Company 4 With the aim of increasing the number of employees over 50 in order to better suit the age of the customer base, this sales company developed special recruitment methods, programs and a range of work arrangements. Noticeable improvements in employee loyalty and sense of responsibility led to a reduction in recruitment costs and increased sales to older customers. Company 5 In a neighborhood with a high percentage of ethnic minorities, this bank began employing local staff who speak the minority's language and connecting with local minority entrepreneurs. This process, in connection with individually tailored products and communication strategies, led to a considerable increase in sales. According to independent reviews, the company is highly regarded in its district. Company 6 As part of the establishment of network groups of ethnic minorities, women as well as gay and lesbian employees, this public service company asked what kind of services it could offer the different target groups. By using the skills and knowledge of the network groups, the company has been able to improve its services, communicate more efficiently with a wider range of customer groups, and use its resources more efficiently by avoiding misunderstandings. Steps to Implementing Managing diversity is a journey, not just a project. There are a few key questions to keep in mind:> Find out what role diversity plays in your company and which social groups are important for your company. Make this a part of your corporate culture. > Work with different stakeholders to understand your company's individual situation. > Let your employees, customers, clients, investors, partners, etc. know what you are doing. > Talk to your employees about how you value diversity. > Rethink the impact of your diversity management strategies. Develop strategies and procedures that reflect and put into action your commitment to diversity management. > Promote mutual support and trust between people inside and outside the company. > Learn from others; can you also use it in your company? Above all, make diversity management your corporate culture! This fact sheet is part of a series designed to provide introductory information on the European Union's anti-discrimination policy and practical advice on how businesses and individuals can avoid and combat discrimination. To learn more about the EU-wide Diversity Campaign. Against discrimination. want to know and need more information about the situation in your member country, visit our website: