Diverse teams are smarter; why your co-working space should deliberately nurture diversity – V8 Africa
Over time, several studies have proven that diverse teams perform better and are smarter than homogenous teams. According to David Rock and Heidi Grant Halvorson, they focus more on facts, process these facts more carefully, and are more innovative. In their words “In numerous studies, diversity — both inherent (e.g., race, gender) and acquired (experience, cultural background) — is associated with business success. For example, a 2009 analysis of 506 companies found that firms with more racial or gender diversity had more sales revenue, more customers, and greater profits. A 2016 analysis of more than 20,000 firms in 91 countries found that companies with more female executives were more profitable. In a 2011 study management teams exhibiting a wider range of educational and work backgrounds produced more-innovative products. These are mere correlations, but laboratory experiments have also shown the direct effect of diversity on team performance. In a 2006 study of mock juries, for example, when black people were added to the jury, white jurors processed the case facts more carefully and deliberated more effectively.”
With this in mind, striving to increase workplace diversity is not just a highfaluting mantra; it is a good business decision. Groups of mixed gender, nationalities, age and ethnicity are generally believed to be more representative of customers. They offer differing perspectives which improves decision-making and problem-solving and boost the company’s joint intellectual potential.
Nothing promises diversity as much as the rise of co-working spaces. Co-working communities provide opportunities for people of different business goals, cultural biases and ages to cohabit. At V8, we believe that diverse teams are smarter and we deliberately encourage the community of different folks. If you are looking for a place to collaborate with other intelligent, creative people, we will be happy to provide you a home to berth.
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