New study shows value of DEI for businesses

A study that has just been published highlights the value that diversity, equity and inclusion (DEI) policies can have for businesses, at a time when they are in the firing line.

This study comes from EY UK and its results show that DEI policies have the potential to improve both innovation and productivity in the workplace. The report argues that this gives them real value for businesses as they try to navigate an uncertain economic climate. It arrives at these conclusions through a mix of data, collaborative work and research into the effect of the policies when implemented.

In particular, the report states that a carefully worked out strategy for DEI can significantly enhance levels of socio-economic, LGBTQ+, race and gender inclusion and equity. The result is a diverse workplace where everyone feels happy and valued – which leads to increased innovation and productivity.

However, the report also emphasises that the policies must be applied across all levels of a company. It points out that this is a matter of workplace culture, which bosses may need to examine and challenge. Some of them choose to bring in a company culture consultant to help with that.

The report has been released at a time when DEI policies are under considerable scrutiny. The new Trump administration in the US has announced a blanket ban on them, leaving many observers wondering if UK businesses will follow this lead.

It makes this report an interesting counterpoint. Among the organisations that contributed to it are Progress Together, Women Leaders and the Parker Review.