Only employers that can adapt to the rapidly changing demographics of the UK will remain competitive in the next decade.
That' s the view of Equal Opportunities Commission chair Julie Mellor, who believes organisations must face an 'equality odyssey' in order to survive.
Major changes to the British population mean that by 2010 just 20 per cent of the workforce will be white, able-bodied men under the age of 40.
Speaking at the Best Employers Summit today, Mellor said employers that could adapt quickly to the changes in the labour market would find a competitive advantage in the future.
"Changes in the ages, ethnicity and sex of the majority of the working population makes it even more urgent for organisations to change the way in they recruit and retain their staff," she said.
"By looking at ways of meeting the needs of future potential employees, employers can be sure that through employing the best person for the job, they will see a boost in their levels of productivity."