Benefits of Building a Diverse Workforce in Life Sciences

While most people will agree there are multiple advantages to having an inclusive and respectful atmosphere in the workplace, too many organizations still struggle to implement effective diversity plans. However, despite the challenges, it’s clear that numerous benefits come with a diverse workforce, and this rings especially true when we consider the life science sector.

It has been demonstrated that companies which embrace diversity don’t just have improved productivity and efficiency, but they also have an easier hiring process given that talented candidates are far more likely to actively seek to work at a diverse company.

All types of candidates are drawn to organizations that are known for their positive approach to diversity in the workplace, including those who come from underrepresented groups and who want to feel valued and respected in their roles.

Here, we look at five benefits that a more diverse approach to the workplace can bring the life science sector:

Improved Reputation

All life science companies must have a compelling reputation to appeal to various stakeholders including customers and employees. When a company has a diverse workforce, it has the strongest chance of winning top talent to join its team which improves the brand image and allows the company’s reputation to improve.

A Wider Talent Pool

If companies broaden their search for candidates to a more diverse workforce, then a bigger pool of talent naturally unfolds. This is something that is particularly important for new start-ups and SME’s in the life science sector with limited geographical catchment areas.

More Productive

If a company has a diverse workforce, its employees come with a wider array of experiences and backgrounds. As a result, more innovative concepts can be generated to resolve issues the company faces.

Improved Performance

Diverse workforces perform better. If all employees come from a similar area, educational background, and culture, the chances of contributing original ideas are low which results in “me too” ideas and less contrarian thought.

When there is a diverse workforce made up from various backgrounds and demographics, new ideas and perspectives come into play, increasing performance and innovation.

More Engaged Employees

When there is an inclusive and respectful atmosphere in the workplace, workers feel more engaged and loyal. As a result, they’re happier in their roles and are less likely to find work elsewhere. This reduces staff turnover, keeping talent inside the company and decreasing costs.

These five benefits make it clear that promoting a more diverse workforce is essential in the life science industry. All life science companies can reap the advantages that an inclusive and respectful environment can bring as well as the innovation and creativity that a broad diversity of workers on its teams can add to the organization.

What GeneCoda® Can Do for You

Collaborating with a company like GeneCoda® can help if you’re committed to diverse leadership rather than just a diverse candidate pool. Not only do we use shortlisting tools to help us find people who are a good fit for your company, but we are also committed to finding people who will help you grow while also promoting equality and diversity.

We are here to help you find leaders who can help your company make measurable progress toward its journey to become a welcoming and diverse workplace. Contact us right now to learn more.