We are currently witnessing a transformation of the global labor market. Especially in the technology sector, there is a severe shortage of qualified staff, while at the same time many organisations continue to look for candidates who most closely resemble those they already have.
At Polar Cape we believe that many companies could benefit from a change of perspective to access the untapped potential of a diverse workforce. This would also lead to them mirroring the population much better than they do today, and allow whole new segments of society into the workforce – which would have benefits for the whole society.
The belief that homogeneous organizations can have a high level of innovation and productivity in a diverse society is often misguided. A lack of diverse workforce can mean that new ideas are harder to come by, so working processes and solutions become stagnant. This can in turn slow productivity compared to competitors, and drive up the employee turnover rate. Put simply, multiple studies have shown that organizations with diverse staff, from top down and across, perform better.
The ‘business case’
Providing equal opportunities regardless of social or any other background is a much more sustainable model for businesses regardless of political implications. That this is also aligned with the values of most modern thinking companies is no great surprise. The values of openness, transparency, accountability, and integrity which many business are promoting, are indeed very hard to reconcile with any other policy on diversity in the workplace.
We at Polar Cape strongly believe in a diverse workforce, for both business and social reasons, and we believe that regulations, policies, and politics should align with this to be able to give companies and society the best chance of success.
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