A Key Driver of Innovation and Productivity
A new report by EY, a Big Four professional services firm, highlights the importance of diversity, equity, and inclusion (DEI) strategies in boosting workforce innovation and improving productivity. The report, titled "DE&I interventions that deliver," examines the impact of inclusive policies in UK companies, particularly in the context of recent economic challenges.
Data-driven workforce analysis: This involves using data to identify areas where diversity is lacking and to track progress over time.
Companies should actively seek out and attract diverse candidates from a variety of backgrounds.
Providing employees with flexibility in when and how they work can help to create a more inclusive environment.
The report's findings are particularly relevant in light of recent attacks on DEI policies in the United States. President Trump has rolled back federal government DEI programs and encouraged private-sector companies to do the same. However, a majority of Americans (61%) support DEI practices, according to a recent Washington Post-Ipsos poll.
EY's UK and Ireland regional managing partner, Anna Anthony, emphasizes the importance of DEI as a driver of innovation, productivity, and economic growth. She believes that creating inclusive workplace cultures and amplifying the voices of underrepresented groups benefits everyone.
Sir Trevor Phillips, chair of Change the Race Ratio, agrees with the report's findings and emphasizes the need to do more and do better when it comes to DEI. He believes that questioning the value of diversity and inclusion programs is a sign that we need to increase our efforts and improve our strategies.
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