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For an organization to succeed, it is important for sales leaders to see the benefits of building a diverse sales team. In this episode, Donald talks about three reasons why diversity and inclusion are important.
The sales statistics
- The US Bureau of Labor Statistics reported in 2019 that 86% of sales managers were white and 80% of people in the sales occupation are white as well.
- Sales is a great field and a huge one. There is still so much space and room for more people.
Three reasons why diversity and inclusion are important
- It helps you understand your clients better.
- A study of the Harvard Business Review in 2013 showed that organizations with sellers who share the same ethnicity as their clientele were 152% more likely to understand their clients’ needs better.
- Putting people of the same culture and ethnicity creates a connection that would help the sales progress. Clients and prospects are more at ease and relaxed when they speak with sales reps who share their culture.
- It improves employee engagement
- A Gallup poll in 2018 shared that companies with engaged employees achieve 4x the growth of their competitors. This means that if the employees are engaged and they’re enjoying the atmosphere, they are bound to grow.
- Building connection is hard but if you have a diverse team, there is better engagement among team members and it encourages participation. Every member of the team will feel understood and will feel like they belong,
- Based on the study, organizations lose about $480 billion a year in productivity because of disengaged employees.
- Increase in market share
- The diverse sales team reports a 40% increase in their market share.
- There can be many contributing factors to this including the fact that your team can go to different communities and areas to look for people they can connect with.
- Have a good mix of people in your team and build it in a diverse way.
“Diversity: 3 Benefits of Building a Diverse Sales Team” episode resources
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