The CEOs of some of the UK’s biggest companies are pushing for more diversity in the workforce as research shows that more diverse businesses are more commercially successful.
Diversity, Inclusion, Belonging and Equity (DIBE) in the workplace is linked to higher recruitment and retention rates. Studies also show that it can increase profits by up to 35%.
However, while most UK companies have a strategy for diversity in the leadership team, the focus is on gender and ethnicity, with disability and sexual orientation secondary.
To address the issue, business CEOs in tech, retail, construction, and professional services have come together under the DIAL Global – CEO ACTIVIST campaign.
Read more: Gender pay gap: Women work for free for two months of the year
Leila McKenzie-Delis, founder of DIAL Global, told Yahoo Finance UK: “The CEO Activist Pledge is unique because it brings together CEOs from some of the UK’s biggest organisations, including Unilever (ULVR.L), Microsoft (MSFT) , Barratt Homes (BDEV.L) or Co-op. These companies and their leaders care about DIBE and want to make a difference in business and society, and I know they are willing to help the government and any future government in this area.
“Research shows that diversity and inclusion benefit a company’s ethical practices, but also act as a powerful commercial lever, increasing creativity, productivity, and ultimately increasing profits.”
For DIAL, diversity in the business environment goes beyond gender, race and ethnicity. This includes employees with different religious and political beliefs, education, socioeconomic background, sexual orientation, culture and disabilities.
Business leaders and politicians will discuss the issue, especially how to move the dial on diversity and drive the growth of the national economy on Thursday 23 March in a discussion live stream on Yahoo.
Tevin Tobun, CEO of logistics company GV Group and MP Yasmin Qureshi will discuss the role government can play in driving inclusion and equity in the industry.
Read more: FTSE companies have set a different target of 40% women on boards
Ipsos ( IPS.PA ) CEO Ben Page will address the second panel on how businesses can support and inspire each other, from different points on the journey to an inclusive culture.
“Our team represents a rich source of insight for policy makers, and we are excited to explore all of these areas along with other exciting themes at this exclusive event,” he added. said McKenzie-Delis.
DIAL’s findings show that discrimination is still an issue in the workplace, with 25% of those who have been discriminated against saying they feel uncomfortable reporting it. In total, 42% of those who reported it said that it was not taken care of properly – and this is important: 67% of the last group will leave the company.
See: Dial Summit
Download the Yahoo Finance app, available for Apple and Android.
