Alongside the launch of INvolve, we are also proud to launch our report, The Value of Diversity, in collaboration with the Centre for Economic and Business Research (CEBR). For years we’ve been saying that not only is driving diversity and inclusion a moral imperative, it simply makes good economic sense.
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.
The findings in this exhaustive report on the economic value of diversity prove what we’ve been preaching for years: 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.
Please find a full copy of the report available for download here.