Creating inclusive workplaces: diversity, ageing populations, and socioeconomic equity

In this episode of the Future of Work Hub’s In Conversation podcast, Lucy Lewis speaks with Dr. Grace Lordan, Founding Director of the Inclusion Initiative. 

Lucy and Grace discuss whether DE&I is good for business and why, amidst political shifts, employers are reframing their efforts to focus more broadly on respect and inclusion. 

Key takeaways 

1. Diversity is good for business: there is a business case for diversity. Research suggests that having a more diverse workforce does not negatively impact businesses and is likely to generate positive outcomes in the medium to long term. 
2. Diversity doesn't work without inclusion: inclusion is vital to harness the potential of a diverse workforce. Businesses should review whether their current DEI initiatives are working and focus on building inclusive organisations so that diverse perspectives are heard, respected and considered. 
3. Address the impact of ageing populations: businesses often struggle to visualise the impact of longer-term trends such as ageing populations on their workforce. A lack of diffusion of knowledge across generations in the workplace is a significant blocker of productivity, so managers must pay attention to who is visible, being listened to, and given opportunities within their organisation.  
4. Focus on socioeconomic inclusion: employers can give opportunities to individuals from lower socioeconomic backgrounds by lifting financial barriers and offering opportunities to train later in life. However, managers must ensure fair distribution of opportunities and advocate for individuals from lower socioeconomic backgrounds to prevent organisational culture from limiting their voices and prospects.