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Firms buckle down on boosting investment into diversity efforts

More businesses are plugging investment into diversity and inclusion programmes, according to a new ..

By admin , in Money , at November 8, 2017

More businesses are plugging investment into diversity and inclusion programmes, according to a new survey of hiring decision-makers by jobs site Glassdoor.

Over a third of the 750 firms surveyed said they expect to boost investment in diversity and inclusion efforts over the next year, and the report found that job candidate demographics were one of the most important recruiting metrics to hiring decision-makers.

Read more: Treasury Committee chair disappointed at chancellor's BoE diversity efforts

Three per cent expected the funding they inject into diversity work to decrease, and the research found recruiting was less effective when firms do not invest in such programmes.

Over half of firms surveyed reported that a lack of investment in diversity and inclusion is a barrier or challenge their organisation faces in attracting and hiring talent.

"In today’s era of the informed candidate, job seekers are hungry for as much information about a company as possible before they take a job. Job seekers want insights into what businesses are doing to build a workforce that is diverse in all aspects of the word be it age, gender, ethnicity or thought,” said Carmel Galvin, chief human resources officer of Glassdoor.

She added:

Driving toward greater diversity in the workplace is a high priority effort for many businesses. With increased investment in diversity and inclusion programmes, it signals that employers are recognising the value these efforts are having on recruiting and on financial performance.

Patrick Woodman, head of research for the Chartered Management Institute, said: “This should be a big warning to business leaders and managers – according to CMI research into FTSE 100 companies just 54 per cent of senior leaders are seen to be actively championing diversity and inclusion programmes."

Woodman added: "To build on this we need to learn from what works, which means committed leadership from the top and from managers at every level, much better data on diversity throughout the management pipeline, and more transparency about progress. We have to keep a spotlight on the issue."

Read more: Asset managers ramp up diversity efforts with boardroom backlash

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