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Gender diversity at workplace can increase productivity, reveals study

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A new study has revealed that gender diversity at workplace can increase a firm's productivity but at the same time it may also reduce contentment among employees.

Sara Ellison, an MIT economist, said that having a more diverse set of employees means the firm has more diverse set of skills and ultimately, results in an office that functions better.

Among other results, the economists found that shifting from an all-male or all-female office to one split evenly along gender lines could increase revenue by roughly 41%. Similarly, greater social diversity implies a greater spread of experience, which could add to the collective knowledge of a group of office workers and make the unit perform more effectively.

Researchers also found that just the perception that firms are diverse was sufficient to produce satisfaction among employees, but this perception did not necessarily occur in places where more extensive gender diversity accompanied better bottom-line results.

The study 'Diversity, Social Goods Provision and Performance in the Firm', is published in the Journal of Economics and Management Strategy.

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