21 January 2022
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How diversity, equity, and inclusion promote business innovation

Innovation in business is powered by unique perspectives and new ideas. At the forefront of innovation is diversity, equity, and inclusión. Having diverse perspectives from teammates who come from different backgrounds ensures that your team approaches a problem from multiple angles and this can lead to faster resolutions. Diverse teams also adapt to changes more easily, reach more potential customers, and offer the opportunity for ground-breaking change.

 

1. INCREASED CONNECTION BETWEEN PEOPLE AND BRANDS

Having diverse thinking, collective beliefs, and different experience and perspectives, informs innovation for all and helps us connect brands with ALL people, not only the traditional digital natives. 

 

2. BETTER OUTCOMES AND BROADER CUSTOMER BASES

If you’re trying to solve a problem for someone whose shoes you’ve never walked in, you’re not likely to hit the mark. Divergent thinking, based on human-centered design thinking that includes a diversity of thought, leads to better outcomes. We go beyond our own experience bubble and design solutions that can serve the needs of a broader customer base or solve problems for underserved markets. 

 

3. INNOVATION AND INSPIRATION FROM NEW PLACES

A more diverse and inclusive team is more likely to draw inspiration from different places to create something new. The equity piece often gets overlooked. Teams that operate in an equitable environment, including equitable pay, are more likely to feel a sense of respect and trust. Those factors create better knowledge sharing and collaboration, which fuels innovation. 

 

4. UNIQUE POINTS OF VIEW

With a diverse team, companies can take advantage of unique viewpoints, perspectives, and experiences to push their business forward. An inclusive workplace also helps organizations address any unconscious bias that can impact recruitment, evaluations, and promotions. 

 

5. DIFFERENT APPROACHES TO A PROBLEM

We all come from different walks of life and therefore have different perspectives on the world around us. It is easy to think that you know what someone else has experienced, but more than likely you don’t. The more people from different walks of life you include on your creative team, the more likely you are to create something innovative because you’ll be approaching it from different angles. 

Copyright © The Impact Lawyers. All rights reserved. This information or any part of it may not be copied or disseminated in any way or by any means or downloaded or stored in an electronic database or retrieval system without the express written consent of The Impact Lawyers. The opinions expressed in this article are those of the authors and do not necessarily reflect the positions or policies of The Impact Lawyers.
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