Final answer:
Workplace diversity is promoted by companies to access a wider talent pool, introduce new perspectives, avoid negative consequences of non-inclusion, and to drive innovation for better business growth.
Step-by-step explanation:
Companies promote workplace diversity for several compelling reasons. Firstly, recognizing that racial discrimination limits access to talented applicants, firms have learned that diversity can enhance their competitive advantage by tapping into a broader talent pool. Secondly, a diverse workforce introduces new perspectives and can lead to a healthier work environment, promoting innovation and better decision-making.
Thirdly, businesses face negative repercussions if they ignore diversity, such as losing out on market share to competitors that appeal to a broader demographic. Finally, homogeneity within the workplace can hinder growth, as diverse teams often find more innovative solutions to challenges.