Diversity in Hiring: A Business Advantage, Not Just A Trend

As a CEO, I have seen firsthand how a diverse team fuels innovation, strengthens decision-making, and drives long-term success.

Companies often rush to follow the latest trends, hoping for quick success. But after a while, most realize it was just another passing phase. However, there’s one thing I’ve seen that is not a trend but a long-term advantage. And that is diverse hiring.

When people with different perspectives, cultures, experiences, and skills are brought in, there are new ideas, better strategies, and higher profits. When I implemented this in my business, everything changed. And I’m here to explain how. Don’t just take my word for it though. Let’s look at companies that have followed this path and become stronger.

Companies with Diverse Hiring Make More Money

Some companies only hire people who “fit the culture.” That means they keep hiring the same kind of people—the same background, ideas, and way of thinking. The result? No fresh ideas, no real growth, and the same recycled strategies year after year.?

When I first started discussing the benefits of diversity, I was asked the same question every time: "Does it actually help the business, or is it just for reputation?"

The answer is clear. Studies show that diverse teams perform better financially. One of the best examples is Microsoft. When Satya Nadella became CEO in 2014, he prioritized diversity. He brought in different voices, changed the work culture, and created an environment where everyone could share ideas. The result? Microsoft's stock price grew by over 700%.

Different Perspectives Lead to Better Decisions

In my career, I've seen some truly bad business decisions. And you know what most of them had in common? They were made by teams that all thought the same way.

When everyone in a room shares the same background, they see problems in the same way and often miss better solutions.

Take Google's Project Aristotle. Google spent years studying what makes teams effective. The study showed that the best teams had diverse opinions and perspectives.?

An example is Coca-Cola. A few years ago, they realized they weren't connecting with younger, more diverse customers. So, they hired more diverse teams, leading to one of their most successful campaigns: "Share a Coke." The campaign, which put common first names on Coca-Cola bottles, led to a 7% increase in sales in just one year.

Understanding Customers Starts with a Diverse Team

I always say if your team doesn’t reflect your customers, you’ll never truly understand them.

Understanding customers starts with a diverse team. This idea is really important, but it's something many businesses overlook. When a team is made up of different people, they can connect better with different types of customers.?

Think about tech companies. If only one type of person is designing the products, they might not think about how others use them. For example, older people might struggle with a complicated phone, while younger customers want something stylish. A diverse team can help create products that work for everyone, by considering different needs during development.

Employees Stay Longer in Diverse Workplaces

Research from Deloitte found that diverse workplaces have higher employee satisfaction and lower turnover. Employees are more likely to stay when they feel respected and valued.

A great example of this is Salesforce. CEO Marc Benioff realized that women in his company were being paid less than men for the same work. Instead of ignoring it, he spent $3 million to fix the pay gap. It resulted in higher job satisfaction, stronger loyalty, and a better company culture.

How Companies Can Build a More Diverse Team

I’ve seen companies try to “fix” diversity by hiring a few people from different backgrounds and stopping there. That’s not enough. We need to:?

Change the Hiring Process

• Stop relying on referrals from the same group of people.
• Work with organizations that focus on diverse hiring.
• Use blind resume screening to remove bias.

Create an Inclusive Work Culture

• Encourage open conversations about different perspectives.
• Train managers on recognizing unconscious bias.
• Make sure leadership reflects the diversity of the workforce.

Set Real Goals and Track Progress

• Set measurable diversity goals.
• Ensure fair promotions and pay across all employee groups.
• Make diversity a company-wide commitment, not just an HR policy.

The companies that succeed in diversity don’t just stop at recruitment. They go deeper. They make sure employees stay, grow, and contribute at their best.

Conclusion

The choice is simple: businesses focusing on diversity today will lead tomorrow's industry.

So, my advice to every business leader is this: Make diversity a core part of your Company—not just because it’s the right thing to do, but because it’s the smartest business decision you can make.

And that? That’s not a trend. That’s a long-term advantage.

If this article resonated with you, share your thoughts. Let’s build stronger and more diverse businesses together!