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Diversity and Inclusion in Business

As the year draws to a close, it is natural to reflect on the year and the successes and events that shaped it (more on that from us in a later blog) as well as look to the future and how to build on those successes and events as we go into 2019.

Living and working in Dubai, we are lucky to be part of a multicultural city – where there are opportunities for all; the positives for growth and learning are numerous, our neighbours celebrate different festivities, our children interact with countless cultures at school and make lifelong global friends, however, whilst most organisations celebrate diversity, even as we go into 2019 we still encounter employers who are unwilling to diversify their workforce – sticking to one nationality/gender and unable to see the ‘bigger picture’

https://gulfbusiness.com/uae-firms-warned-job-ads-specifying-race-gender-nationality

Is Diversity good for business?

 

McKinsey has been examining diversity in the workplace for several years. Their latest report, Diversity Matters, examined companies across a range of industries in Canada, Latin America, the United Kingdom, and the United States. In this research, they looked at metrics such as financial results and the composition of top management and boards. The findings were clear:

  • Companies in the top quartile for racial and ethnic diversity are 35 percent more likely to have financial returns above their respective national industry medians. And those in the top quartile for gender diversity are 15 percent more likely to have financial returns above their respective national industry medians.
  • Companies in the bottom quartile both for gender and for ethnicity and race are statistically less likely to achieve above-average financial returns. In the United States, there is a linear relationship between racial and ethnic diversity and better financial performance.
  • In the United Kingdom, greater gender diversity on the senior-executive team corresponded to the highest performance uplift in the data set.

 

Why is Diversity so good for business?

Because diversity breeds innovation, more inclusive companies, we believe, are better able to win top talent and improve their customer orientation, employee satisfaction, and decision making, and all that leads to a virtuous cycle of increasing returns. By diversifying your decision makers and representing all segments of your potential customer base a more diverse company has access to many more opportunities.

Inspire Selection’s placements

In 2018 we helped our clients to recruit across 28 different nationalities, our gender split was 56% male to 44% female and age ranged from 22 years old to 54 years old.

 

Whilst we are proud of this data, we will continue to monitor our performance and help our clients to continue to reap the awards of a diverse workforce. Gender and ethnicity are still the major focal points of many of our clients’ diversity focus, however, with ageing populations and more people delaying retirement, age discrimination is gaining attention and will be a big topic in address in 2019. As will measuring and increasing numbers of workers with disabilities in the workforce

https://gulfnews.com/going-out/society/minister-hire-people-of-determination-1.2277380

 

 

Posted on Friday Dec 21