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How Can Organizations Promote and Benefit from Socioeconomic Diversity?

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(Credit: SIOP) How can organizations promote and benefit from socioeconomic diversity?
June 5
3:13 PM 2019

Although most organizations have begun embracing diversity and inclusion (D&I) practices tailored to individual differences (e.g., race, gender, age), few organizations consider how one's social class background might affect workplace experiences. The new white paper, "Benefits of Socioeconomic Diversity to Organizations.

How Organizations Can Promote and Benefit From Socioeconomic Diversity," draws on research from various fields including management, psychology, and sociology research to provide organizations with a deeper understanding of how to enact, promote, and benefit from practices that promote socioeconomic diversity in their employee populations.

Written by SIOP members McKenzie Preston, The Wharton School at Penn State, and Sumona De Graaf, principal at ghSMART, this white paper explains research evidence that individuals from lower social class backgrounds tend to engage highly in prosocial behaviors, which have been shown to be related to improvements in team cooperation and team performance. Socioeconomic diversity can also increase the diversity of perspectives on a team, which has been related to improvements in team preparation.

This white paper provides information that socioeconomic diversity can lead to positive business and people-related benefits for organizations. For example, there is research evidence that individuals from lower social class backgrounds tend to engage highly in prosocial behaviors, which have been shown to be related to improvements in team cooperation and team performance. Socioeconomic diversity can also increase the diversity of perspectives on a team, which has been related to improvements in team preparation.

© 2019 VCPOST, All rights reserved. Do not reproduce without permission.
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