Cultural differences and diversity are a strength in a company – EconomyMorning

According to a study conducted by McKinsey in 2018, companies that integrate diversity (gender, ethnic and or social) are generally more efficient than those that do not. A diverse mix of people is always good for teams and essential for businesses, regardless of industry.

In fact, according to this study, companies where diversity is a reality are up to 33% more likely to have better financial results. Gender diversity is also a competitive factor, allowing performance to be improved by up to 15%.

A major asset

Cultural diversity in a company is a real advantage, particularly if the company wishes to internationalize. In a context of globalization, teams within companies are becoming more and more international and are confronted with different cultures. To access new markets, companies must make the cultures of their employees an asset.

By confronting cultural diversity, companies are obliged to innovate, because they must both find different ways of using and marketing their products and services, and targeting customers whose the needs are different and value the strategic advantages that the company has built on its national market. This ability to open up to new horizons, to adapt to the difference, to conceive new uses is at the origin of many successes and this whatever the size of the company.

Recognize cultural diversity

In an intercultural context, managers who supervise international employees must learn to recognize the cultural values ​​of their group and strive to respect their sensitivity. A cultural misstep can offend an individual and create tension within a team. The effort of inclusion and the development of cultural sensitivity become sought after soft skills to ensure good management of cultural diversity!

Regarding cultural differences, Professor Geert Hofstede has done interesting work in this area. It advocates the importance of an international perspective and breaks down cultural attitudes into the 6D model of national culture – Power Distance, Avoidance of Uncertainty, Individualism-Collectivism, Masculinity-Femininity, Long-term Orientation and Indulgence-Restraint. .

It then examines cultural attitudes by country and the differences between national societies. The results are vast – and fascinating – and it is even possible to compare the cultural differences between countries. Sure, the result of all this research is not to stereotype, but to provide insight. In today’s multinationals, recognizing cultural diversity is a tremendous advantage!

A company gives itself a strategic and competitive advantage if it takes into account the diversity within its teams. Therefore, diversity pays off! In a globalized economy, it is clearly a lever for improving performance. It even increases innovation and creativity in production, marketing and human resource management practices. Large or small, successful companies must, to better adapt, rely on the creativity and energy of a diverse workforce.