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ISSUE 5
The Role of Payroll in Supporting DEI Initiatives
By Suman Rai
Diversity, Equity, and Inclusion (DEI) are foundational principles that ensure all employees, regardless of their background, have equal opportunities and are treated with impartiality. However, with the statistics in front of us, this may still seem somewhat fanciful.
World Economic Forum’s Global Gender Gap Report 2024 , highlights the LinkedIn data that shows even in 2024, women’s representation in the workforce continues to remain lower than men across almost all industries and economies. Women constitute 42% of the global workforce and hold 31.7% of senior leadership positions. A report by EDGE , a global assessment certification standard for DEI mentions that neither the UK nor the US has hiring quotas for people with disabilities or gender quotas on company boards. The Office for National Statistics points out that from 2012 to 2022, Black, African, Caribbean, or Black British employees in the UK have consistently earned a median gross hourly pay of £13.53, which is lower than the £14.35 earned by White employees. At the same time, a new
working paper from the International Labour Organization reveals that individuals with disabilities earn 12% less per hour than other employees. The striking pay disparity reinforces the necessity of DEI initiatives in today’s workplace. Appreciating the diverse strengths of individuals cultivates a flourishing, innovative workplace and nurtures a positive organisational culture. Companies that prioritise DEI are better positioned to attract top talent, understand diverse customer needs, and achieve sustainable growth. This article will examine the impact of DEI in the workplace along with strategies and best practices for fostering a DEI-inclusive environment.
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