Why does diversity within business consulting matter

Posting date: 14 March 2023

Companies all over the world are recognising the value that diversity can bring to their teams. Diversity refers to gender, religion, ethnicity, ability level, sexuality, and socio-economic status, and is an increasingly hot-button issue in consulting recruitment. 


Sadly, people of colour and other minority groups in Switzerland still encounter obstacles in their careers. Women also face barriers in the Swiss workplace, as roughly 65% of all promotions in the country go to men, with the problem compounding for women of colour. 


Did you know that not only does this discrimination violate Article 8 of the Swiss Constitution, but it could also actually hinder your company’s success?


Studies have shown that companies with diverse hiring and promotion practices benefit from 53% better performance than competitors. Similarly, companies with racial and ethnic diversity policies benefit from 35% greater financial returns. Evidently, it’s not only about being an ethical leader in your community - it’s also about improving your bottom line. 

Whether you're still weighing up the benefits of hiring a business consultant or are ready to hit start on the search, you'll want to explore our four top reasons why diversity is so important when selecting new consultants. 


1.      You’ll benefit from diverse viewpoints

People from the same cultural, racial, and gender background tend to have very similar experiences to draw from, which can lead to ‘groupthink’ and conformity. However, diverse consultants have a multitude of different experiences to draw from, which sparks innovation and new ways of looking at a problem.  


2.      It increases your talent pool

When it comes to financial services recruitment, diversity and inclusion benefit everyone. One of the simplest reasons is that it dramatically increases your talent pool. Unfortunately, when you’re only working with people from a small section of society, you’ll only attract a small number of candidates. 


However, if your vacancies are aimed at a broader range of candidates, you’ll receive more applications and find the perfect fit for the role. Similarly, you’re more likely to attract new clients who want to work with someone who understands their cultural context and unique needs. 


3.      It boosts employee morale

Part of building an ethical workplace culture is leading by example and showing your team that you value their uniqueness and diversity. When employees feel not just accepted for who they are, but appreciated and valued for their differences, they are more likely to be productive and happy in their roles. That means better retention, less employee turnover, and an overall better place to work for everyone. 


4.      It improves your employer brand

Part of being a successful employer is valuing your employees. Building a culture of transparency and accountability starts with offering them respect and appreciating their differences. After you begin focusing on diversity in hiring, you’ll find that the word will soon get around. You’ll attract different applicants, as well as the top talent in your industry who want to work for a forward-thinking and ethical organisation. 

Looking for guidance when hiring for diversity?

When you work with consultants from diverse backgrounds, you pave the way for growth and innovation within your company and the community. You can reach untapped markets, gain new perspectives, limit employee turnover, and raise your company’s profile. 


Swisslinx has always championed diversity and inclusion in hiring. In addition to their expertise in recruiting consultants, they have an extensive pool of diverse candidates looking for consultancy opportunities. 


If you want to improve your diversity in hiring, now is the time to get in touch with Swisslinx to discuss your hiring. Start by exploring their site to learn more about the company and their elite asset management recruitment services.