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EDITORIAL: Diversity effort good for business

EDITORIAL: Diversity effort good for business

Chamber helping companies expand diversity in local workforce

Great. Another sacrifice on the altar of political correctness.

Another liberal overreaction. Another slippery slope toward quotas and additional costs to businesses.

Vice president for diversity and inclusion? You’ve got to be kidding.

The Capital Region Chamber, however, is not kidding.

And it’s not letting stereotypical gaslighting deter it from continuing its efforts to help local businesses build more diversity into their workforces.

The chamber is moving into the second chapter of its efforts to promote diversity in the workplace since it began its program last year.

Jason Benitez, the former director of multicultural affairs at Union College, will be taking over where his predecessor, Angela Dixon, left off.

His role will be to promote and encourage diversity in local hiring and to help businesses understand how a diverse workforce can enhance its business and overcome institutional and personal biases.

In a time when a growing proportion of the workforce is on the retirement bubble, companies will struggle to find ways to replace those employees. 

To overcome the challenges, they’re going to need to tap into a diverse, qualified pool of potential employees.

The benefits of having a diverse workforce are not just the anecdotal musings of the left. Studies of businesses conducted by universities and business groups back them up.

A study by McKinsey & Co., for instance, looked at 180 companies in four countries over a period of two years and found that companies with diversity among their executive boards generated returns 53% on average higher than those with low-diversity boards. 

Another study by Credit Suisse echoed those findings and found that large businesses with female board members outperformed those with only men on their boards. 

Ethnic and gender diversity on staffs brings a variety of external viewpoints that allow businesses to find new ways to solve problems.

Diversity allows companies to be more like their customers and therefore better reflect their customers’ wishes.

It leads to more accurate pricing decisions, improved employee engagement, less turnover and a better reputation for companies, in an era where more people are demanding that companies better reflect the makeup of society.

The more companies accept this, and the more understanding they have of how to achieve greater diversity, the better these companies will be.

The chamber’s efforts to encourage and promote diversity are good for local business and good for the people these businesses serve.

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