Diversity in the workplace has been a hot topic for quite some time now. With so many discussions taking place about it in the media and on company boards, it would be natural to assume that this is an area enjoying much progression.
The McGregor-Smith review which looked into diversity in the workplace in the UK suggests otherwise however.
- The under-employment rate for black and minority ethnic (BME) individuals is still higher (15.3%) than it is for white workers (11.5%)
- Only 9.7% of executive positions in the FTSE 100 companies are held by women. This is despite the fact that almost as many women (64%) are aiming for leadership positions as men (65%)
- 86% of men think they and their colleagues are paid equally regardless of their gender. Only 56% of women agree
- Even though it’s illegal for an employer to discriminate based on sexual orientation, 32% of LGBT employees still choose to hide their sexual orientation
- Only one in eight UK employees are from a BME background and they make up just 6% of top management positions
Despite these shocking statistics, increasing workplace diversity can boost the UK’s economy by an incredible £24 billion a year. What are some of the other reasons we need diversity in the workplace?
Diversity creates stronger teams
Diversity goes beyond gender, skin colour, sexual orientation or disabilities. It also includes having a team with a wide variety of personalities, skills and work experience.
Naturally, a diverse office is going to help employees grow because they can gain insight from different perspectives. Diversity also helps to create a lot more opportunities within the workforce because your team will be able to bring all sorts of ideas and skills to your company.
Diverse teams perform better
According to research published in Harvard Business Review,cognitively diverse teams solve problems faster than teams of cognitively similar people. They’ve also been found to make decisions 60% faster compared to non-diverse teams.
It attracts top talent
According to a 2017 study carried out by Women Ahead,supporting employee networks for specific demographic groups – based on gender, sexuality, ethnicity or religion – has a direct link to employee retention and engagement.
New recruits are attracted to diverse companies where they can develop and learn from their colleagues. Before long, you’ll be drawing in talented individuals from all over the globe which is going to help your organisation and employees grow stronger.
You stand out from your competitors
Having people who can all bring something unique to your company will help you keep up or even get ahead of your competitors. The benefit being that having a team with many different cultural backgrounds means clients and customers will be able to relate to all staff.
If you need help with any of your recruitment needs, please don’t hesitate to get in touch with Choralis Consultingand we’ll be more than happy to help.