Report by TUC and CBI: Diversity boosts business

A joint report from the CBI employer’s organisation and the Trades Union Congress (TUC) found out that firms that take steps to improve Diversity in the workplace earn real business benefits. 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 or religion can benefit in many ways, including: higher morale and productivity, improved retention rates and lower recruitment costs. The report, “Talent not Tokenism”, demonstrates that promoting diversity does not necessarily need to be expensive, complex or a legal minefield for business and identifies some key elements for bringing about change, including leadership from senior management and employee involvement, especially through unions and other workforce representatives.
According to TUC general secretary Brendan Barber Diversity is not only a question of ethics and equal opportunities but rather a determinant of hard facts such as competitiveness and economical success. “The need to unlock the talents of all – to create a truly representative workforce – is even more crucial at a time of economic uncertainty. The issue is not whether business can afford to diversify, but whether it can afford not to.” The report was launched in early June and contains a dozen case studies featuring businesses of all sizes that have developed a more diverse workforce. The case studies illustrate how companies, from small family-run firms to multinationals have improved their workplace Diversity and the advantages in doing so. You can download the report here.