Diversity: How it can help recruitment and boost franchise performance
Amrit Dhaliwal, Chief Executive of homecare franchise Walfinch, explains why diversity is essential for success, and how to achieve it. Any organisation has much to gain from a diverse hiring policy when it comes to team members. It’s not just a ‘nice to have’. It starts with changing your mindset to become more inclusive, and that must start at the top.
Statistics show that diversity on boards brings higher profits. A report by consultants McKinsey and Company found that companies with the most ethnically diverse executive teams were 33 per cent more likely to outperform their peers on profitability. It also found that gender diversity was correlated with both profitability and value creation. However, many of the diverse groups are still underrepresented in UK workplaces and have the skills we need, but lack of diverse hiring means we struggle to find them. Amrit discusses best practice and how to adopt a diverse hiring policy.