INvolve launches The Value of Diversity report
INvolve – The Inclusion People, encompassing the popular OUTstanding, EMpower and HERoes lists, published The Value of Diversity research, in partnership with the Centre for Economics & Business Research. It highlights some shocking statistics about the economic impact of workplace discrimination, and underpins the importance of what INvolve does.
"With increasing external pressure on government and business to focus on equality of opportunity, it’s crucial we are able to prove the business case of diversity across all strands," said Suki Sandhu, Founder & CEO of INvolve. "The findings in this exhaustive report on the economic value of diversity prove what we’ve been preaching for years which is that diversity works."
Some of the key findings of the report were:
- The economic cost of workplace discrimination to the UK Economy is £127 billion.
- £123bn due to gender discrimination
- £2.6bn due to discrimination against ethnic minorities
- £2bn due to discrimination as a result of sexual orientation
- The UK’s most diverse workplaces (across gender, ethnicity and sexual orientation) are 12 percentage points more likely to financially outperform their industry average than the least diverse firms.
- Firms with the most developed diversity policy are 15 percentage points more likely to financially outperform those with less focus on diversity.
Click here to download The Value of Diversity research report.
