Baroness McGregor-Smith

More Diverse Workforce Could Generate £24bn For UK Economy

More Diverse Workforce Could Generate £24bn For UK Economy

The UK economy would receive a £24bn boost if workplaces were more diverse, a new report has found. The Baroness McGregor-Smith Review, published by Baroness McGregor-Smith CBE, has suggested that UK GDP would increase by 1.3% annually if black and minority (BME) workers were given the same opportunities as their white colleagues. Currently, BME employees are more likely to be in low-paid, low-skilled positions – despite the fact they are more likely to have a degree. Just 6% of BMEs currently reach senior management positions, and have a 12% lower employment rate than their white counterparts. In a bid to help increase equality and diversity in business, enterprises with more than 50 employees have been urged to: Publish a breakdown of their workforce by race and pay band Draw up five-yea... »