Opportunity from adversity: building a fairer economy 

A panel discussion including the word ‘economy’ does not usually touch on the huge variety of discussion topics we saw in this session. But this year is different, and the effects of the pandemic mean that issues around inclusivity, diversity and company culture are no longer on the side lines and discussed among HR professionals alone. Our panel of experts discuss how businesses can Build Back Better with disproportionately affected groups in mind.

Speakers

• John Amaechi OBE, CEO and Organisational Psychologist, Amaechi Performance Systems
• Olly Benzecry, Chairman and Senior Managing Director, Accenture
• Dame Carolyn Fairbairn
• Javier Ferran, Chairman, Diageo
• Baroness Tanni Grey-Thompson, Chancellor, Northumbria University
• Steve Hatch, Vice President for Northern Europe
• Chair: James Harding, Co-Founder and Editor, Tortoise Media.

Highlights from the session

Transform the phrase ‘Build Back Better’

This pandemic, described by Olly Benzecry as a “hundred-year storm”, has deeply impacted organisations and individuals alike. Benzecry noted that, as we talk about Build Back Better, there’s a new description of what ‘better’ actually means. It is not just about your shareholders anymore, but increasingly, issues of sustainability, inclusion and diversity are front and centre. He added that we are already seeing businesses Build Back Better and collaborating at a large scale by stepping up to the national challenges thrown at them by the pandemic. For example, by supporting the NHS, luxury brands produced hand sanitiser and manufacturers produced ventilators.

The re-emergence of the Black Lives Matter Movement also encouraged businesses to think long and hard about how they can make a real and sustainable difference. Yet, Benzecry acknowledges that there are harsh realities where we’re actually going backwards, particularly in inclusivity and getting to equality. He points to a digital divide in terms of skills and households who can’t access the internet, as well as unemployment disproportionately affecting the young. Looking internally, Benzecry shares that 73% of his Accenture employees they felt supported during the pandemic, but that number drops to 56% from those of socially disadvantaged backgrounds. Only 23% of employees currently feel included in workplace decisions and that figure drops more among the disabled community in particular. He acknowledges that business has to do better.

Discard the notion of a ‘new normal’

The conversation then turned to whether the actions businesses are taking to address a lack of inclusivity are rhetorical or real. John Amaechi stated that there’s a mixture of both, pointing out that every organisation that is working on rhetoric, rather than substantive behavioural changes, will be punished once the recession ends.

So, what mechanisms can companies introduce to bring about real change in the workplace? Firstly, scrap the idea of the ‘new normal’, which Amaechi describes as a “terrible concept”. Going back to the way everything was, give or take a couple of modifications, is unambitious. He points to a redefinition of leadership and rethinking how we progress people, not just with technical and executive skills but emotional labour skills such as approachability, a coaching approach to leadership, supportiveness, empowerment and positivity. These traits and skills aren’t criteria that individuals often get rewarded for in the workplace. Therefore, businesses are going to have to change what they demand from people.

Inclusivity is a marathon, not a sprint

Javier Ferran highlights talent and culture as two secrets for success in business. He states that doing the right thing has massive payback and the biggest payback comes from your own employees who develop a sense of belonging and are delighted to come into work on Monday mornings. He adds that if businesses have that sense of culture, they will not only retain employees, but attract the best people too.

Ferran then goes on to remind businesses that building a fairer economy is not a sprint but a marathon. At Diageo ten years ago, the whole executive committee consisted of white men. Now, the board, made up of nine individuals, is mostly made up of women. 40% of Diageo’s executive committee are women, while 39% of their 600 leaders worldwide are women. He highlights the importance of having a long-term view and consistent measurement and is now working on the same level of progress for ethnic minority professionals.

Not all fairness is created equal

Speaking to Baroness Tanni Grey-Thompson, Chair James Harding argues that not all fairness is understood and measured in the same way as gender and race, and asks how businesses can address socioeconomic disadvantages. “One of the things that business has to do first is recognise there’s an issue” says Grey-Thompson. It’s clearly an issue right the way to the top, with even those in senior positions worrying about things like their accent, which knife and fork to use, what to wear or even important activities like networking. Grey-Thompson argues that often, businesses don’t even think about socioeconomic backgrounds, and the differences that access to opportunity and education may have on individuals.

Conversation then moved on to intersectionality, and to a hugely underrepresented group – those living with disabilities. “Most companies don’t measure the disability pay gap [because] they worry about publishing the figures” says Grey-Thompson. It’s clear for her that the pandemic has left disabled people behind, with tens of thousands of disabled people with no underlying conditions told they would not receive life-sustaining treatment for coronavirus.

Grey-Thompson acknowledged there were upsides, with flexible working more widespread than it has ever been, but also pointed out that flexibility is something disabled people have asked for for years, without much in the way of success. And in terms of what’s next? “It’s how we take the best out of where we are now to ensure people can contribute” says Grey-Thompson. And in terms of practical actions managers and leaders can take to address the fact disabled people are not feeling included? The answer for Grey-Thompson is simple: talk to disabled people about their lived experience.