Diversity in the workplace has been an issue since the civil war. Fast forward to 2017 and a lack of diversity in the workplace remains an issue.
In fact, a recent survey by Career Builder found that only 35 percent of women feel confident that compensation is dispensed equitably between the genders.
As U.S. demographics continue to change alongside a rapidly evolving global economy, the business argument for diversity has never been stronger, and that is especially true in the sales industry.
That’s why we put together a list of the top 4 benefits of a diverse sales team and explain how it will help you boost revenue this quarter:
1. Diverse sales teams connect better with customers
One wrong word can kill a sale. So it is critical to get it right when approaching leads from different walks of life.
While it is true that a homogenous sales force can be effective, the addition of diverse sales reps and leaders who understand different lifestyles and cultures can only have a positive impact.
In fact, the Harvard Business Review found that a sales team with a member who shares a client’s ethnicity is 152 percent more likely to understand that client than another team member.
2. Diverse sales teams have access to more A-players
A recent HBR study found that a cloud-based software company would have had 2 million dollars more in revenue if they met their sales hiring goals.
Simply put, finding salespeople who achieve quota year after year is problematic for most organizations. That’s why it’s so critical to search beyond your usual network. When you start looking at candidates with different backgrounds you widen the talent pool and increase the probabilities of finding a sales superstar.
3. Diverse sales teams overcome groupthink
When you put people with similar backgrounds in one room, they are likely to come up with similar solutions based on their shared experiences. Groupthink is the kryptonite of success.
A diverse workforce helps to foster an environment where varying points of view can be freely shared among employees. And this theory has been proven to lead to “outside the box” thinking that stimulates innovation and market growth.
4. Diverse sales teams attract the very best
Great people, regardless of their background, are attracted to great working environments. When businesses maintain an inclusive culture, A-players are far more likely to want to join the organization.
This is especially true with Millennials, a group that will make up most your sales force over the next 10 years. Per the Census Bureau, millennials are now the largest and most diverse generation in U.S. history – made up of 42 percent minorities and more women working than any other generation. Most organizations now talk about being diverse, but millennials demand it.
As U.S. demographics continue to shift and the global economy continues to evolve, sales leaders need to adapt their hiring processes to include more diversity.