New data | Firms failing to meet workers expectations on D&I

Diversity and inclusion (D&) has always played an important role in the workplace. It is one that could have huge benefits for businesses if prioritised in the workplace. Figures have pointed towards this.

For example, data from Boston Consulting Group (BCG) found that companies boasting greater diversity among senior teams enjoy revenues that are up to 19% higher than their competitors. Additional research from McKinsey has found that racially and ethnically diverse organisations outperform similarly placed institutions by 35%.

Aside from this, it appears that approaches to D&I could help employers and HR overcome some of the challenges that they are currently faced with. In fact, according to data carried out by recruitment agency Aspire, whether or not employers have a robust D&I policy in place could be the determining factor when it comes to overcoming staff shortages and retaining workforces amid the ‘Great Resignation’.

The data, which polled circa 600 candidates from a range of sectors found that for three-quarters of staff, it’s either ‘extremely important’ (39%), or ‘very important’ (35%) that an organisation has a D&I policy in place. Paul Farrer, Aspire’s Founder and Chairman, said: “This research makes it crystal clear that an organisation’s approach to diversity and inclusion could prove to be the difference between someone accepting or rejecting a job or even leaving their current role. When so many organisations are struggling to recruit people to plug skills gaps as they look to recover from the pandemic, employers simply can’t afford to overlook this fundamentally important aspect of a job.”