The focus of this paper was on addressing the relationship between workforce diversity and organizational performance. The discussion specifically examined diversity forms such as age and ethnic diversity, as manifested within the context of the organization. The equity theory was adopted as the theoretical framework in the discussion on the role of diversity in the performance outcomes of the organization. Notable support from the review of literature was observed in line with existing theories and views on the importance of diversity management for effective and efficient organizational processes, relationships and overall well-being. Through the harnessing and channelling of such variety, companies may choose to use a much more creative approach toward addressing their challenges and problems. In conclusion, it was stated that workforce diversity provides a more elaborate framework enriched with a variety of perspectives, ideas and functional dispositions that when effectively tapped and harnessed by the organization, impacts positively on its level of performance – sustaining collaboration between the groups, enhancing organizational processes and supporting the achievement of the organization’s objectives and goals.