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Are businesses reflecting their diverse customer base?

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Businesses need to reflect their diverse customer base and embed diversity and inclusion or risk hampering growth.shutterstock_117304330

Joint research by Bernard Hodes and the CIPD shows that despite the majority of organisations introducing diversity and inclusion (D&I) strategies and policies few have moved beyond legal requirements to implement a truly embedded approach that is integral to talent management strategies.

The report – Diversity & Inclusion – Fringe or Fundamental?, – shows that firms need to consistently emphasise that diverse teams are “more effective, innovative and better equipped to deliver superior performance and growth”.

While it found that 83% of organisations have strategies and policies in place and nearly 60% predict that D&I will become increasingly important in the next five years the authors are concerned that it is not enough.

The link between diversity and talent management is too loose in many organisations while fewer than half of those surveyed addressed D&I in their reward or internal communications.

As well as weaknesses on demonstrating impact (only 40% used specific KPIs) the majority focussed on demographic data and employee survey results. Fewer than half included D&I in line manager training.

Helen Rosethorn, CEO of Bernard Hodes, said: “There is good news and not such good news in the report findings.

Clearly D&I is being considered at more strategic level than ever before but it is not translating effectively enough into building more inclusive workplaces and people practice.”

Meanwhile,  Liz Bingham, managing partner at People at accountants Ernst & Young, said that although the research demonstrated that many organisations had embarked on a journey of change many were at different stages of that journey.

“It appears that companies have frameworks and policies in place but don’t know how to bring them to life,” she said.

She added that the challenge was “less around the D and more around the I” making D&I an essential aspect in the way business is done.

“Key to that is recognising that D&I is not just about creating an inclusive culture it can improve business performance.”

Car rental firm Enterprise-Rent-A-Car has already reaped the benefits of tackling the ‘I’ challenge.

According to Donna Miller, European HR director for the firm when diversity reflects the customer base there is a positive impact on sales.

She said: “The business case must be led from the top and needs to be integrated throughout every areas of the business including IT people, sales people, accountants and suppliers. It is not only an HR issue.

“We have found that attracting people from different cultures help generate new business and open up new markets.”

The post Are businesses reflecting their diverse customer base? appeared first on UNIT4 UK Blog.


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