As technology continues to advance and the need for niche skillsets in the workplace continues to grow, the importance of having a diverse team is more critical than ever. Swoon prides itself in being a high-performing company with employees who have the knowledge and expertise to deliver above and beyond expectations. Therefore, it is the primary focus of ours to hold, develop and recruit individuals who are as forward-thinking, globally-minded and diverse as the consumers and clients utilizing our product. We realize that diversity and inclusion are some of the most vital entities in a company continuing its path of exponential growth. They allude to the technological advances that we stand upon today and more importantly, the ones that we are most looking forward to in the future.
Return on Investment has become a large pillar in the reasons for the increased recruitment and interest of diversity and inclusion professionals. This is because studies have shown a direct correlation between diversity and bottom-line gains. Free market research has proven that often, a more diverse company yields an increased number of consumers. According to a new study from Forbes and McKinsey, of 366 public companies examined, those who remain in the top quartile for racial and ethnic diversity are 35% more likely to have financial returns above national industry medians. Could it be because consumers are looking for an image of themselves in the product they are cultivating? Just maybe!
The way Swoon looks at the importance of diversity is simple. With it, there are several more perspectives, helping us to be a better company and continue our expansion.
“I feel Swoon diversifies its staff and differentiates itself from competitors by simply not being afraid of change. Working in this manner has been to our advantage with candidates and clients alike,” said Talent Acquisition Specialist, Nashana Alexander.
According to Business Insider, a study showed that diverse teams make fewer mistakes and can look at critical facts more closely. This interesting study also found that culturally diverse groups were more likely to come up with new, innovative products in comparison to the typical homogenous teams.
“Diversity in the workplace is so important because people [our consumers] can see their stories being told, and it allows people to see themselves within others that are like them. It also supports variance in thought because when different ideas are brought to the table, innovation and creativity are bred,” said Talent Acquisition Specialist, Ashley Andrews.
Some have also found that diverse companies are more profitable because they attract the most qualified/skilled employees across the board. When we discover the best talent in non-segmented groups, it can only be assumed that the best of the best employees, beyond typical classifications, can be selected. Here at Swoon, the many cultures that have been put together under one space allow the feeling of empowerment to flourish within the office. An eagerness to learn, grow and collaboratively succeed has become more prevalent since inclusivity became a top goal of ours. Without even realizing it, it has also improved profitability because the diverse community within Swoon has influenced the way we work – both by ourselves and together.
Swoon and Diversity
The Swoon Analytics team noted that from June 2017 to today, we have exponentially grown in staff by 56 percent! We raised our earnings last year from the year before and are expecting to increase our revenue by 28 percent this year!
This summer, we decided to take things up a notch by opening a fully-equipped office in Toronto, Canada. By doing this, we have begun to realize the opportunities that come with having a globally-impacting company dually for the minds of the people in it and for clients we serve. Being able to communicate effectively in different parts of the world is a substantial benefit because it allows us to understand the many cultural nuances and concepts that come with this international expansion.
Recently, organizations have heavily invested in developing STEM youth, and with this, we acknowledge the bright future ahead of Swoon! Because organizations are instilling programs for the diversification of the STEM field, companies like us who are constantly in search of qualified professionals will get the excellent opportunity to expand from this effort.
Swoon, our woman-owned company, shows us all that diversity is the strength we need to keep moving forward. We anticipate our company becoming a leading force in diversity and inclusion within the staffing and recruiting industry!
Article by: Osora Mojekwu and Timothy Dixon-Traylor