Benefits of Diversity and Inclusion

There are many benefits to businesses and industries that embrace diverse and inclusive workforces that include;

  • Increased productivity – employees that feel included will be more productive
  • Better financial performance – from improved innovation, retention, reputation and productivity
  • Recruitment – diverse and inclusive workplaces can attract skilled employees from a wider range of backgrounds
  • Improved mental health – inclusive workplaces have a positive impact on employee mental health and wellbeing
  • Improved retention – employees who feel valued are more likely to stay
  • Improved innovation – through diversity of thinking and ideas
  • Improved reputation – for organisations that are representative of community diversity
The benefits of diversity and inclusion for organisations are many.

The Tasmanian forest industry is focused on being an industry of choice with a diverse and skilled workforce that is inclusive of all employees. The sector released its Diversity Action Plan in 2022 and is currently implementing actions from that plan. You can find the Diversity Action Plan here.

The industry has also developed a series of factsheets and postcards to assist employees and employers with promoting diversity and inclusion in their workplaces. They can either be downloaded from this website or contact for some hardcopies.

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  • McKinsey & Company details many aspects of diversity and inclusion, including noting that from their research, that companies with greater diversity have better business performance.
  • The Diversity Council of Australia has a wealth of information and resources on diversity and inclusion and its benefits.
  • The World Economic Forum notes that the business case for diversity in the workplace is now overwhelming. It also highlights that Diversity and Inclusion are important factors for millennials with nearly half of millennials actively looking for diversity in their potential employers.
  • Ranstad has created a checklist that explores the 7 Benefits of a Diverse and Inclusive Workforce