Session 3: Powering better business outcomes through equity

Without a workplace culture that supports EDI from the top down, it cannot thrive, and neither can the organisation.

You can’t solve problems you don’t know exist. Diversity means different perspectives and experiences are present whether designing a product or understanding an audience – filling in gaps you didn’t even know were there.

A recent McKinsey report found that more diverse organisations are 36% more likely to succeed compared to less diverse ones when it comes to ethnic diversity, and 25% higher likelihood when considering gender diversity. Additionally, employee performance in diverse organisations is 12% higher than employee performance in companies with no inclusivity efforts (Gartner).

EDI needs to shift from being a HR responsibility to be a business priority. It’s not a nice to have, it’s mission critical and can only thrive if the culture is supported from the top down.

Crucially we have a skills gap which is led by a tight labour market. In my opinion it’s never more important now for organisations to embrace equity and diversity.

It’s not just about your moral or social responsibility, it’s actually a business need. When we have diverse workforces, we have a creative and innovative workforce, so we make better decisions, we make more money, we make more profit and it grows our bottom line.
Panellist: Viren Patel
Director of Employers and Partnerships, The Open University