EY Highlights Critical Role of Strong Diversity Policies

A new report by EY underlines the critical importance of diversity, equity, and inclusion (DE&I) in improving productivity and workforce innovation in UK companies amid an unpredictable macroeconomic environment.

Drawing on extensive research, industry collaborations, and data-driven insights, the report highlights how strategic DE&I interventions can create measurable impact and foster a culture of belonging for all employees.

The report identifies DE&I interventions that can have the most significant impact in improving workplace equity and inclusion across multiple characteristics such as gender, ethnicity, disability, LGBTQ+ identities and socio-economic backgrounds.

The report highlights the importance of fostering a culture of inclusivity at all levels of UK business and ensuring that managers and leaders have the necessary understanding and support to implement inclusive policies, address poor behaviours, and promote inclusive practices within their teams.

To achieve this, business leaders are encouraged to assess their organisational culture to understand the lived experience of their teams and to provide training for managers and business leaders on inclusive behaviours, focusing on practical knowledge to build confidence when discussing sensitive topics.

Anna Anthony, EY UK & Ireland Regional Managing Partner, commented: “Diversity, equity and inclusion are not just ethical values - they are critical drivers of innovation, productivity, and economic growth. By fostering inclusive workplace cultures that value differences and amplify the voices of underrepresented groups, we can all help to create a UK business environment where creativity flourishes, individuals thrive, and everyone benefits.

“The strategies highlighted in the report will provide a useful source of insight to many UK companies, including our own organisation. We are committed to learning from these best practice examples as we continue to foster a workplace culture where all our people feel safe and empowered to succeed.”

The report provides practical recommendations for businesses of all sizes and sectors across the UK, focusing on DE&I interventions that work across multiple characteristics and can assist businesses to adopt a holistic DE&I strategy that benefits many individuals. These key recommendations include:

• Measurement: taking a data-driven approach to DE&I including robust data collection and analysis and target setting.
• Recruitment: implement targeted recruitment strategies that attract diverse candidates and, where needed, offer appropriate support to accurately assess their competences and suitability for a role.
• Retention: providing flexibility on when and how roles are performed.
• Progression: offering structured development programmes to mentor and/or sponsor individuals to close gaps in access to career progression opportunities.

“Diversity, equity and inclusion are not just ethical values - they are critical drivers of innovation, productivity, and economic growth. By fostering inclusive workplace cultures that value differences and amplify the voices of underrepresented groups, we can all help to create a UK business environment where creativity flourishes, individuals thrive, and everyone benefits."

Anna Anthony, EY UK & Ireland Regional Managing Partner