Diversity & Inclusion
Fostering a diverse and inclusive workforce not only guarantees higher revenue growth, but most importantly, it attracts candidates and increases the retention rate by 5.4 times according to Matt Bush the former Culture Coaching Lead at Great Place to Work. Employees are 10 times more likely to be satisfied and innovative, 11 times more likely to be highly effective, and 4 times less likely to negatively impact their mental health according to DCA’s Inclusion@Work Index 2021-2022.
Particularly in the legal workplace, it is critical to encourage diversity, embedding a righteous and open-minded culture. McKinsey’s study continues to prove that diversity in the workplace triggers innovation and business profitability, supported by their recent findings that “diverse companies are more likely to financially outperform their peers” by approximately 36%.
Despite the significant benefits of a diverse workplace, it requires ongoing dedication and effort to achieve the desired state. Typically, in the legal industry in Australia, according to The Law Society of New South Wales, “A law firm or organisation that demonstrates diversity has a competitive edge and this enables the firm to succeed and grow.” In addition, by promoting diversity and inclusion internally within the organisational culture and externally in the way you engage with stakeholders, “the risk of breaching existing legislation is dramatically reduced”.
Find out how to instil diversity and inclusion in the legal workplace.