Equality, Diversity and Inclusion – More than an E-learning course
Now more than ever, it is essential for the industry to understand how best to attract and retain people.
Scores of companies have made progressive steps in their Equality, Diversity & Inclusion initiatives (EDI) and are embracing the much-needed change in workplace cultures around EDI. In the construction industry, it is well reported that there is a skills shortage, so now more than ever, it is essential for the industry to understand how best to attract and retain people, and culture plays a significant role in doing this.
EDI is not just a trend word to use whilst trying to attract and retain employees though. Having an active EDI policy in place improves the success of a company. Success is brought about by widening cultural knowledge and innovation across groups of people, an innovation well sought in the construction industry, an industry which sometimes feels like a relic.
What do businesses want? CEOs and Chief Execs want metrics, a quantifiable number to report back to their Boards. McKinsey reported* that gender-diverse companies are 14% more likely to perform better than non-diverse companies and that ethnically diverse companies are 35% more likely to perform better, and companies in the top quarter for diversity on executive teams are 25% more likely to have above-average profits than those in the lowest quarter.
Individual business needs and industry needs around EDI do correlate, with the skills shortage very prevalent in construction. CIOB reported that women account for 12.3% of construction workers in the UK, and ethnic minority representation is just 7%.
Looking at age, 32.5% of people working in construction are over 50, and only 10% are 19-24. Is this showing us that the culture within this industry is not attracting the younger generation? If the percentage of younger people entering the industry does not increase, then there will be a more significant skills gap in 10-15 years when 32.5% have retired.
The question comes back around with how to fill these current skills shortages and start working now to avoid even more in the future. One way to answer that challenge is to increase EDI policy and activity across the industry which will help to engage with a larger skills pool. It will also attract talent from other industries that might have been put off from the perceived culture of the construction industry.
Shaping an inclusive workplace is no small task, it requires management buy-in, accountability and transparency to ensure that everyone at work can feel themselves and have a sense of belonging.
As Professor Borys Groysberg of Harvard, said “Diversity is counting the numbers, inclusion is making the numbers count”.
*Delivering Through Diversity Report. McKinsey. 2018
This blog was written by Tomorrow's Leaders Champion, Robert Rhodes. You can find out more about Tomorrow's Leaders and take part in discussions on numerous topics, including the ideas set out in this blog, within the dedicated community space on CIOB Connect.