Poster from CONNECT Strategic Alliances promotes workshops on strategies to find skilled immigrant talent.

According to a 2011 Statistics Canada projections study, 63% of Toronto’s population will be comprised of “visible minority persons” by 2031, alongside 59% in Vancouver and 31% in Montreal. How can you help senior management adapt to and leverage this changing landscape? Here are 10 reasons why hiring a diverse workforce can boost your bottom line:

1. FILLNG THE BOOMER GAP: “The boomer generation’s mass retirement exodus will have a serious impact on Canadian businesses,” says Sangeetha Chandru, former Sessional Professor of Change Management at Ryerson University, and Human Capital Management Expert. “The skilled immigrant workforce will play a pivotal role in filling this gap. This is why it is so important for companies to implement an inclusive hiring strategy now – it’s just good business sense.”

2 CONNECT WITH NEW CUSTOMERS: A diverse group of staff will offer a strong connection to their local and cultural communities — an advantage to help understand, reach and connect with new potential customers.

3. TOUT A GLOBAL UNDERSTANDING: Companies looking to expand outside of Canada can benefit from a workforce with international experience. A diverse team can provide a competitive edge on the world stage, given their understanding of global practices.

4 CREATE NEW INNOVATIONS: International training and different cultural perspectives mean your employees can offer new, unique ideas for business innovation drawing from their own diverse backgrounds.

5. ATTRACT TOP TALENT: Companies who value the importance of diversity distinguish themselves from competitors, and are able to attract top talent who share the same values.

6. KEEP YOUR COMPANY RELEVANT: In today’s fast-paced business world, keeping up with a changing landscape equals survival. Developing a proactive hiring strategy for a rapidly changing population will keep your company ahead of the game, as other businesses risk falling behind.

7. BRING IN INTERNATIONAL EXPERTISE: some countries are more advanced in certain industries than others. By hiring foreign trained workers, you can further strengthen your company’s offering.

8. MARKET YOUR COMPANY’S PROGRESSIVE BRAND: Today, many industry awards recognize companies for their progressive hiring practices (e.g. Canada’s Best Diversity Employers). Such accolades provide a “stand-out” dimension when marketing your company to stakeholders.

9. CREATE LOYAL BRAND AMBASSADORS: Many new-to-Canada immigrants are looking for their “big break” into the workforce. Companies who invest in them are often rewarded with loyalty and a strong, dedicated work ethic — thus developing a team of vocal brand ambassadors.

10. HIRING FOR DIVERSITY IS GOOD FOR CANADA: According to a recent poll, most Canadians view immigration in a positive light, and see it as beneficial for the country. Reflecting a diverse workforce can generate goodwill among your company’s key target audiences who support Canada’s immigration policies.