10 Jul 5 Ways to Stay Informed About Workplace Diversity
Workplace diversity is about accepting and valuing all employees’ differences and encouraging them to use their unique knowledge and skills to create a stronger and more competitive organisation. A lot of corporations have already recognized the multiple benefits of workplace diversity.
Employees with different backgrounds and views are more likely to produce innovative and creative solutions to existing problems. Fostering diversity within the company can further attract a more diverse audience and clientele, thus expanding the customer base and increasing profits.
In fact, in the McGregor-Smith Review, it was estimated that an extra £24 billion can be generated in the UK economy every year, simply by using the full potential of the black and minority ethnic (BME) community. This amount corresponds to 1.3% of GDP. Nevertheless, BME individuals in the UK are still underemployed with 15.3%, in comparison to white workers’ underemployment rate of 11.5%.