New
evidence backs claims that a more diverse workforce improves business
performance.
Research
by the London Central Learning and Skills Council (LSC) and the London Human
Resource Group, shows that a more diverse workforce is able to tap into new
customer groups.
"Considerable
progress is being made towards today’s workplace being much more a reflection
of our diverse community. This brings business benefits as well as creating a
more equitable society," said Jacqui Henderson, executive director of London
Central LSC.
The
study of around 500 organisations in the US, the UK and Europe, shows that
greater diversity (including gender, ethnicity, disability and age) leads to
better staff retention, reduced recruitment costs, more satisfied customers,
access to a wider customer base, and better supply-chain management.
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Mark
Mansell, head of employment law at Allen & Overy, one of the study’s
sponsors, said: "Given the demonstrable business benefits, smart employers
should promote diversity by retraining senior managers. [They should] introduce
specific provisions into employee performance criteria and flexible working
policies to make sure under-represented groups have a clear career progression
to senior management positions."
