How social cohesion can help small business excel

inclusive, social cohesion

If you asked a handful of senior leaders if they thought social cohesion was a problem for large corporations rather than small businesses, it’s like you’d be met with resounding agreement.

However, after such extended periods apart, the issue of team engagement across small business is biting more than it ever has. When you have issues of engagement and social cohesion in small business, the impact is bigger.

This is why there’s no more important time to look at your social cohesion and prioritise a celebration of diversity. Almost half (46 per cent) of Australians have at least one parent born overseas, and one in four themselves were born overseas. Diversity matters, and it matters to the business’ bottom line.

In fact, studies demonstrate that they are three times more likely to be high performing, eight times more likely to have better overall performance, and are twice as likely to exceed financial targets.

We’re a proudly multicultural nation made up of more than 270 ancestries. So even small businesses have a grand opportunity to enjoy the benefits of a rich fabric of diversity.

My word of advice is to sign up for any annual workplace cultural diversity initiative. Why? Well here are three key reasons:

  1. It promotes better profit: let’s face it. Money matters, no matter what your small business.However, exceeding financial targets can not be successful without collaboration across teams. This lack of cohesion can be felt on even greater levels when the team is smaller. When you have social cohesion, however, there is great mutual respect that promotes collaboration and influences economic outcomes.
  2. Builds a bolder and braver business: Small businesses without risk takers will never grow into big businesses. Teams that won’t stretch outside their core wheelhouse, contribute new concepts or suggest ideas if there isn’t the trust. In contrast, when in a harmonious team, individuals are more inclined to partake in risks that have increased opportunistic outcomes.
  3. Innovation: With diversity comes a more abundant source of lived experience from varied backgrounds, and that inspires creative solutions. Again, respect and trust gives people confidence to share, and the improved teamwork can build bigger and better creative contributions for innovative thinking.

Unifying a workplace to challenge, celebrate and explore new ideas creates a culture of trust. It ensures they are confident to contribute to their maximum potential.

As a longtime ambassador and supporter of A Taste of Harmony, I have seen the impact such an event can have on fostering social cohesion across teams. After all, when working in a harmonious team, brilliant things happen.