For the first time in the UK, all companies, charities and public sector departments of 250 employees or more were required by law to publish their gender pay gap figures. The results showed that 78% of companies reported a pay gap that favours men, with the transportation and storage sector averaging at 6.8% – by far not the worst industry for gender pay gaps but still a way to go! Yet, these figures only scratch the surface of workforce diversity.
Diversity is more than gender pay gaps, it is about bringing together people of all backgrounds, beliefs, race, ethnicity, sexual orientation, socio-economic status, age, physical ability and, yes, gender. It’s become one of the latest business buzzwords, but that’s because diversity also makes business sense.
As the world becomes increasingly globalised and interconnected, so does the importance of true diversity within the workplace.
A diverse workforce brings, by nature, more diverse viewpoints and perspectives that better reflect the international customers that organisations now serve, providing a deeper insight and understanding of customers’ needs and motivations. By aligning closer with these, companies can better reflect their customers’ values –enhancing brand loyalty and driving sales.
What’s more, with attaining and retaining talent a growing challenge across a number of industries, understanding the importance of diversity broadens the talent pool and provides access to a workforce that could have otherwise been overlooked. There’s another benefit of promoting diversity in workplaces too. Workplace diversity has a further extended impact on our societies, as organisations demonstrate and act upon the importance and acceptance of diversity which is then reflected in our local communities.
Diversity in our everyday lives will only continue to grow. So, isn’t it time that diversity in our workplaces does too?
Ellena Austin, Yusen Logistics