By:  Cristina Allen

A culturally diverse workforce enhances and allows for a diverse customer.

Cultural diversity is no longer about political correctness or window dressing; it’s about business survival, employment, pure profit and bottom-line business.

Diversity sales is one of the hottest topics in corporate America today. The latest census results firmly established that the ethnic make-up of the U.S. is changing at a rate faster than anyone has anticipated. The bottom-line results have not been measured in dollars, but rather in the demographics of women and minority sales, recruitment, retention and supplier diversity.

Diversity is profitable:

According to the Society for Human Resource Management (SHRM):

  • Diversity initiatives can improve the quality of an organization’s workforce and be the catalyst for a better ROI in human capital.
  • Customer bases are becoming more diverse than the workforce.
  • Minorities are the majority in six of the eight largest metropolitan areas of the U.S.
  • The combined Black, Hispanic and Asian buying power is more than $750 billion.
  • Women are the primary investors in more than half of the U.S. households.

The financial rewards of appealing to a more-culturally diversified customer base are significant. Women purchase 70 to 80 percent of all products; African Americans spend nearly $500 billion each year on goods and services; and Hispanics are the fastest growing consumer groups in the United States. A reputation for fair treatment is one of the primary reasons women and minority consumers say they remain loyal to a company.

How to achieve a culturally diverse workforce and attract diverse customers:

  • Cultural Connectivity with the customer: The needs of diverse customers need to be understood whether with language skills or with cultural importance.  Hiring a diverse workforce translates into sales.
  • Employee recruitment and retention: A workplace that emphasizes interest and concern for its employees as people first can attract a higher-quality workforce. A diverse workforce attracts a diverse customer.