Page 18 - Social_Diversity

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The importance of Diversity Charters

To answer to such challenges, the European Diversity Charters aim at fully engaging companies, especially
SMEs, in actively constituting their diversity and inclusion policies with concrete actions. Each member
1
state has its own dedicated platform, they are all available here.
Diversity Charters are usually initiated by companies themselves or a group of companies. They gather an
important number of signatories among big enterprises and SMEs.

Diversity Charters allow to raise company owners’ and managers’ awareness on the need to respect
diversity and non discrimination in recruitment procedures and in management strategies. They offer
a platform for exchange, sharing best practices and communicating around their engagement. This tool
favours social dialogue and representativity giving practical advice on how to implement concrete actions
and how to evaluate them.

Benefits of promoting diversity and inclusion in the workplace

We live in a globalized and connected world with an acceleration of international exchanges and more
accessible communication tools. It is therefore not surprising that these tendencies are mirrored in the
working place with growing diversity.

According to a survey by the European Commission, back in 2005, 83% of companies that adopted
diversity practices in the workplace affirmed that they have enjoyed business benefits related to it. 2
Allowing for better cooperation between employees and harmonious relations can unleash creativity,
innovation and most importantly productivity. A Boston Consultancy Study released in 2017 shows that
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companies where diversity management is applied reported 19% higher revenue due to innovation.

1 https://ec.europa.eu/info/policies/justice-and-fundamental-rights/combatting-discrimination/tackling-discrimination/
diversity-management/diversity-charters-eu-country_en
2 https://ec.europa.eu/social/main.jsp?catId=89&langId=en&newsId=336&furtherNews=yes
3 https://www.bcg.com/en-us/publications/2018/how-diverse-leadership-teams-boost-innovation.aspx