The High Increase in Reputational Stakes
In marketplaces facing challenges, the skills required for a company to be successful are changing. It doesn’t involve technical skills. Many business leaders (80%) take part in the recent PwC CEO Survey to determine the creativity, intelligence and innovation as essential part of success. People with these characteristics and capabilities are difficult to employ, adding to the pressure on skilled retention and supply. About 77% of CEOs believed that the limited availability of talents affects their company’s growth and prospects.
Inclusion and diversity will help to improve the talent pool and make your business growth effectively. More than 87% of CEOs support inclusion and diversity within their organizations. In 2015, a PwC survey showed the chances of increasing talent, and it was highlighted by more than 10,000 respondents (people born between 1980 and 1995). More than 80% of the participants believed that the employer’s policy on equality, diversity and workforce inclusion is a crucial factor in deciding whether or not to work for the company. This shows people’s desire to increase the business apart from providing them chances to develop their careers. They also help to add values that are aligned with their own.
Apart from providing in-depth talent pool, inclusion and diversity also provide employees that are ready to improve your customer base services to serve them more efficiently. Employing people from diverse culture and backgrounds would bring in new experiences and ideas required to promote innovation and capitalize on opportunities.
Inclusion and diversity play an important role in selecting an employer and your reputation on these issues will influence the growth of your organization. The danger of not paying attention to inclusion and diversity or skilled management will not match the claims.
In another survey by PwC, about 4,000 respondents across the globe were assessed. About 39% of men and 52% of women claimed that companies talk so much about diversity, but the opportunities available are not equal for all. When asked if diversity (for instance, age, gender or ethnicity) would be a great challenge to progress within their organization, 28% of men and 38% of women said yes.
Many potential employees want an honest employment opportunity and experience before deciding on where to work. About 60% of the female respondents in the survey believed that the diversity of leadership team when accepting a position with the recent employer is influenced. Employers were assessed about the extent to which they have integrated the inclusion and diversity in their organization, less than 30% response to the diversity of their employees and leadership team. Many candidates usually look for other available opportunities if they don’t accept them.
Other stakeholders must consider these perceptions. Some customers may prefer to deal with inclusive organizations, and in turn, the government wants companies to be more inclusive. If the stakeholders analyze the issue, investors certainly will know how the organization responds to this effect.