In a world where more and more businesses recognize the importance of diversity in the workplace, Vijay Eswaran is leading the charge. As the founder and CEO of QI Group, one of Asia’s largest conglomerates, Eswaran has seen first-hand how a diverse team can lead to better business outcomes. This article will explore the business case for diversity and learn why Vijay Eswaran believes it is so important for businesses to embrace it.
Diversity in the workplace is often thought of as a “nice to have” rather than a business necessity. But a growing body of research suggests that diverse teams are more innovative and produce better results than homogeneous ones. A study by Harvard Business School found that companies with strong racial and ethnic diversity were 35% more likely to have financial returns above their industry median. And a McKinsey report found that companies in the top quartile for gender or racial and ethnic diversity were more likely to have financial returns above their national industry medians.
There are many reasons why diversity can lead to better business outcomes. For one, diverse teams are more likely to challenge each other’s assumptions and ideas, leading to better decision-making. They are also more likely to spot opportunities that their homogeneous counterparts may miss.
But perhaps the most important reason why diversity is good for business is that it reflects and responds to the increasingly diverse world we live in. As our societies become more multicultural, companies need to reflect on this reality to stay relevant and appeal to a wider range of consumers.
Vijay Eswaran has long been an advocate for diversity in the workplace. In 2013, he launched the Diversity Empowerment Network (DEN), a non-profit organization that works to promote inclusion and equality in the workplace. DEN provides training and resources for businesses to create an inclusive environment for employees from all backgrounds.
“Diversity is not just about gender, race or religion,” says Eswaran. “It’s about inclusion and equality. It’s about giving everyone a seat at the table.”
Eswaran’s commitment to diversity is good for business, but it also aligns with his values. “I believe that diversity is a core human value,” he says. “We all have a role to play in championing it.”
As businesses worldwide continue to recognize the importance of diversity, they would do well to follow Eswaran’s lead. By valuing and promoting inclusion, they can create an environment where everyone can thrive – and where they are more likely to achieve success. See more information HERE: https://www.concordia.net/community/vijay-eswaran/