by Sandra Kerr
Originally published: September 12, 2017
Last month, the Equality and Human Rights Commission (EHRC) published its latest strategy on gender, ethnicity and disability pay gaps. It followed a TUC report that found that black employees with A-levels earn 10 per cent less than their white counterparts, and the pay gap for black workers is likely to increase with qualifications.
Business in the Community (BITC) has been working with employers to tackle gender pay gaps for many years, and we welcomed the introduction of mandatory gender pay gap reporting for large employers, which began in April. However, reports like the EHRC’s and TUC’s show that this issue cuts across all areas of workplace diversity.
Earlier this year, the McGregor-Smith review on race in the workplace found that getting race equality in the workplace right is worth £24bn per year to the UK economy. Meanwhile, BITC’s research revealed that, if the employment rate of people aged 50-64 matched that of those aged 35-49, it would add £88bn to UK GDP. Put simply, employers without a diverse workforce risk missing out – not only on the best talent, but also on a considerable financial boost to their organisations and the economy.