Final answer:
Without building diversity, companies will find it difficult to innovate, reach a wider range of customers, and attract top talent.
Step-by-step explanation:
Diversity is important for companies because without it, they will find it difficult to innovate and come up with new ideas. When a company has a diverse team, employees with different backgrounds and perspectives can bring fresh insights and approaches to problem-solving. This can lead to creative solutions and a competitive advantage in the market.
For example, if a company only hires people from the same cultural background, they may overlook important perspectives and miss opportunities to reach a wider range of customers. On the other hand, companies that embrace diversity can understand and cater to the needs of a diverse customer base, leading to increased sales and profits.
In addition, having a diverse workforce helps companies attract and retain top talent. In today's globalized world, employees value diversity and inclusion. They want to work in an environment where their unique contributions are recognized and appreciated. Therefore, companies that prioritize diversity can attract a wider pool of qualified candidates and create a more inclusive and productive work culture.