TUC and CBI report shows how diversity delivers business benefits
Firms that take steps to improve diversity in the workplace earn real business benefits, according to a joint report, Talent not Tokenism, just published by the CBI and the TUC. Case studies show that companies who recruit and retain people from a wide talent pool have a demonstrably better understanding of customers’ needs and greater insight to reach untapped markets.
The report, Talent not Tokenism, a joint collaboration bewtween the CBI and the TUC, shows that promoting diversity need not be expensive, complex or a legal minefield for business. And it identifies some key ingredients for bringing about change, including leadership from senior management and employee involvement, especially through unions and other workforce representatives.
Case studies featuring firms such as IBM, BT, PricewaterhouseCoopers, Barclays, and Shell, show that companies who look beyond the ‘usual suspects’ for staff and employ people on the basis of their abilities and potential, regardless of their sex, race, age, disability, sexual orientation, religion or belief, can benefit in a number of ways, including:
- attracting and retaining highly talented people;
- improving innovation and creativity amongst employees;
- better understanding of customers’ needs and greater insight to reach untapped markets.
Chair of the Equality and Human Rights Commission Trevor Phillips said: “Successful competition with our rivals depends on cooperation with our colleagues. Diversity can be an obstacle to working better – or it can be the spur to greater success. This guidance is a real-world, commonsense collection of stories and suggestions that will be useful for companies of all kinds and sizes.”
A pdf copy of the full report, can be downloaded from the TUC website at www.tuc.org.uk/extras/talentnottokenism.pdf.