In a post-Brexit environment, 72% of business leaders see access to skills as the main threat to the UK’s labour market competitiveness. The key to closing this gap is diversity. Alongside simply being the right thing to do, building a more diverse and inclusive workforce will open up everyone’s ability to contribute to the UK economy and increase productivity.
And according to the McGregor-Smith Review, closing the ethnicity pay gap could uplift UK GDP by up to £24bn per year – offering a huge boost to the economy as well as to individual firms.
The good news is, though there are complex societal issues contributing towards the ethnicity gap, there are practical steps that every firm can take to genuinely make a difference. As the latest step in the CBI’s campaign for more diverse and inclusive workplaces, we’ve released a member exclusive guide, supported by Eversheds Sutherland, to help your firm to close its gap.
Using real case studies from firms of varying sizes in different sectors and regions, Bridge the gap identifies common barriers to progress and offers practical guidance on how to overcome them by:
- Developing campaigns to encourage employees to declare their ethnicity
- Creating strategies to improve BAME representation from entry level to boardroom
- Starting a conversation about race in the workplace and creating an environment and culture of inclusion.
But business cannot close the ethnicity pay gap alone. Societal issues remain at the heart of the gap, and so business and government must work closely together to help narrow attainment gaps in education between disadvantaged young people and their wealthier peers; and help disadvantaged young people, including from a BAME background, to access careers advice and networks. If your firm is passionate about this issue, view our diversity and inclusion campaign to find out more about our work.
Download your exclusive member guide.