Embracing Diversity Is Good For Business

According to a new report Companies that embrace diversity will see real business benefits as a results.

The report, from trade body the Confederation of British Industry (CBI) and the TUC, found that companies that look beyond race, sex, age, disability, sexual orientation or religion can increase morale, productivity, improve retention rates and lower recruitment costs.

The report is being released tonight by the director-general of the CBI, Richard Lambert; the general secretary of the TUC, Brendan Barber; Trevor Phillips, chair of the Equality & Human Rights Commission; and the minister for women and equality, Harriet Harman.

The report demonstrates how diversity can benefit business through a number of case studies, for example:

• Transport company Arriva Works sent 5,800 staff on diversity courses, set up 24 learning centres to raise skills and introduced a diversity recruitment programme. Now, Arriva North West & Wales has seen an increase of 60% in female bus drivers and Arriva Yorkshire has seen a third reduction in the number of people leaving within two years of employment.

• Pinsent Masons solicitors’ positive approach to lesbian and gay equality saw its lawyer turnover rate fall from 17% to 12%, a substantial saving when losing a solicitor costs a law firm an average of £110,000.

Richard Lambert said: "Employers who take steps to encourage a more diverse workforce notice huge benefits from doing so, whether it is hiring skilled staff, understanding their customers' needs better or more fundamentally through improved morale and productivity.”