Recent events have created an increasingly disruptive business environment. Organizations have been working to quickly adapt to rapid changes that have impacted both employee and customer needs. Many L&D trends have taken off to meet these needs.
Online learning programs have grown in popularity as the remote workforce expanded. Employee development programs focused on soft skills to improve customer service also gained traction.
However, human resources departments have found that there is another area business leaders should consider investing in this year. There is a growing need for training programs that focus on improving employee wellbeing. More specifically, training programs that focus on workplace diversity can provide many benefits for modern businesses today.
We will share the top 5 reasons you should invest in employee development programs that focus on diversity and inclusion with you.
Higher Profits
Corporate training programs that focus on diversity-related topics such as unconscious bias and cultural awareness can help your business expand its bottom line. Diversity training programs have been linked to several factors that impact revenue, including employee retention rates and productivity levels.
Recent studies have found that companies who provide training regarding ethnic diversity have 35% higher profits than the national average. Organizations that provide employee training about gender diversity also have profits that are 15% higher than the national average (1). 

Promote Innovation
In today's disruptive marketplace, organizations that can quickly innovate and have a competitive advantage. According to the Harvard Business Review, companies with higher than average diversity have higher profits from innovation.
Diversity training helps to create an inclusive workplace environment where employees feel they can share their ideas. The contribution of new ideas is a critical factor that increases innovation and business growth.
Increase Market Share
Technology is breaking down business barriers and has expanded the global marketplace. Location is no longer the issue it once was. These changes have also increased the need for cultural awareness across all levels and departments, including employees in leadership roles.
Developing the right set of leadership skills does not only impact your internal teams. It can also influence your leadership team's ability to expand its customer base. Diverse and inclusive teams are 70% more likely to capture new markets (2). Inclusive thinking can help your business grow its reach and find new customers.

Improve Workplace Culture
Employee training can help your organization build an inclusive company-wide culture. Providing learning experiences focused on diversity and inclusion can help your organization actively promote diversity in the workplace. Training plays a critical role in raising awareness of these issues. It also helps employees develop the attitudes and behaviors needed to create an inclusive workplace.
Integrating diversity topics into your compliance training is also one of the most effective ways to prevent toxic workplace environments. Equipping employees with the right soft skills and knowledge can prevent damaging issues such as sexual harassment or discrimination.
Attracting and Retaining Top Talent
Your organization's approach to D&I may have a larger impact on its ability to attract new talent than you think. Millennials are the largest generational group in the workforce. What is more interesting is that 47% of millennials shared that diversity and inclusion are top factors they consider during a job search (3). 
Without the right training and policies in place, your organization may be at risk for higher rates of employee turnover. D&I training can help your company actively prevent the kinds of issues that cause a toxic workplace.
Issues related to discrimination and harassment can also greatly decrease employee retention rates. 24% of employees recently surveyed shared that they have experienced discrimination at work (4). 40% of employees who experience stereotyping or bullying leave the company for other opportunities (5). 

EndNote 
After the many changes that occurred over the last year, employee wellbeing has become a top priority for leading organizations today. L&D professionals are looking to make investments in employee development that will provide a high ROI. They are also looking to improve the workplace culture.
Employee training programs that are focused on building a more inclusive workplace can help your organization in more ways than one. Effective diversity training programs have been proven to increase workplace satisfaction. They can also influence factors that promote revenue growth, such as innovation and productivity.
Learn more about how the right training program can improve employee wellbeing. Read the case study Compliance Training for Increase Workplace Safety.