The Equity Effect
We surveyed over 500 business leaders and 1,000 employees, as well as carrying out qualitative interviews with 22 business leaders and employees from a broad range of industries. Further research was conducted to gather specific business performance and diversity data points from companies listed on the FTSE 350.
Henley academics from a range of research specialisms including HR, leadership, ethics, and organisational behaviour, have analysed the findings and shared their thoughts throughout the paper.
Some of the key findings from the report include that:
- Factors such as perceived cultural differences (cited by 56% of employees and 52% of business leaders) and a lack of diversity in leadership (33% of employees) are driving racial inequity and systemic racism within UK businesses.
- As many as 22% of employees say they have personally experienced or seen discrimination of some sort in their workplace, with many citing race as the primary pretext (55%).
- Businesses which actively confront inequity and racism with practical measures, can expect to see an improvement in their employees’ job satisfaction, loyalty, creativity and, ultimately, value, recording an average revenue 58% higher than those which did not.
- If you are a woman from an ethnic minority, aged 45+ and working in the public sector, you are among the UK’s most disadvantaged workers. Compared to their younger male counterparts, these females don’t feel as safe speaking up at work and challenging the way things are done (39% v 74%), don’t believe they would be supported if they wanted to try a new idea (50% v 72%), are less likely to feel they can bring their true authentic self to the workplace (56% v 73%) and are less respected by the people they work with (63% v 75%).
Racial equity means all employees are valued and treated fairly (even if this means being treated differently) irrespective of their race and culture, under the belief that strength comes through diversity. This includes the elimination of policies, practices, attitudes and cultural messages that foster racial discrimination and providing additional support and services to balance out inequities.
Our lead researcher and spokesperson
Naeema leads on professional development, people and the future of work at Henley Business School, including establishing our annual World of Work (WOW) conference. She created the Henley Hives, a vibrant and productive community of innovative members working on making Henley a better place to work.
Naeema is also Principal Practitioner with the Association of Business Psychologists. She also speaks extensively on side-hustling, future of work and generations, and flexible working such as the four-day week.