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Why Inclusion and Diversity Makes Good Business Sense

According to consulting firm McKinsey, improvements to gender diversity in the workplace could add $2.1tn (£1.6tn) to Europe’s GDP by 2025. Full representation of Black, Asian and minority ethnic (BAME) communities in the labor market could be worth £24bn a year to the UK economy. Despite this, the reality is that achieving these marks are easier said than done. How can managers reduce pay gaps and improve diversity and inclusion in the workplace? Can new tools and technology make a difference?

With these questions we take a look at a few potential answers in today’s society.

The #Metoo Effect

The #MeToo movement has changed society’s attitude towards calling out sexual harassment to belief in the victims, and swift action against perpetrators. The message is trickling into other markets, writes Karen Higginbottom in Forbes: “The #MeToo movement has put issues involving women in the workplace front and center in the workplace.”

Brian Kropp, group vice-president, HR practice for Gartner, said that while incidents will keep happening, the response will be different. Businesses are expected to make a big changes not only by publicly calling out discriminatory behavior but by creating policies that proactively try to remove it from the workforce.

Technology Changes Work Patterns

New technology allows people to work, hold meetings from anywhere. The patterns of work are beginning to change. However, that technology is creating an ‘always-on’ culture, making it difficult for workers to switch off during their leisure hours. A key issue for future managers will be how to overcome these challenges of working without sharing the same office space.