Sustainable Business Model
equality and diversity
Equality & Diversity
How to tackle inequality and a lack of diversity is a challenge for many businesses. There is no silver bullet. No single solution. But one common hub to base your efforts around – measure, compare and share.
By collecting and analysing data on diversity over time, comparing and sharing those numbers collaboratively with other organisations, you are en route to better representing your community and giving everyone a level playing field.
Fear driven agenda
For many this is a fear driven agenda. Fear of discrimination and harassment complaints. Fear of some type of complaint retaliation leading to career or mental physical health challenges. Having effective feedback and concern channels, particularly around harassment and discrimination is a key aspect of addressing this issue.
Getting recruitment right
Recruitment processes often perpetuate diversity problems. Investigating the channels candidates have come from and the relative diversity by channel can identify communication gaps. Unless the organisation is very large, the best opportunities to improve diversity again lie in collaboration with others to support initiatives that level the playing field for disadvantaged groups. A long term approach.
Benefits of diversity
One of the big benefits of a more diverse mix of people, is the variety of ideas, perspectives and learning opportunities they bring. Which leads to Innovation. There is also a boost to customer engagement through better understanding of different cultural dynamics. McKinsey & Company research with 180 companies across France, Germany, the United Kingdom, and the United States concluded that companies with more diverse top teams were also top financial performers.
As well as resolving this within your own boundaries, there are further gains to be discovered in your supply chain. One of our customers has managed to fill supply chain gaps by supporting minority led businesses to develop their capacity in hard to resource areas.
One of the other big benefits is your company being seen as ‘good’ and more socially responsible. By presenting a diverse workforce, you are making it easier for a wider range of people to relate to your company and brand, opening doors to new customers, employees, markets and suppliers.