The spending power of the LGBTI+ and BAME communities is often overlooked (Financial Times and nfpsynergy) with BAME communities having a disposable income over £300bn. To tap into this wealth for the charities that the Chartered Institute supports requires organisations to engage fully with inclusion.
Deepak Mahtani of TearFund warns that: “Charities will miss out if they don’t widen their donor profile to include young, upwardly mobile people from ethnic minority communities."
The diversity of voices will make the sector and the fundraising profession stronger.
Beyond fundraising:
McKinsey & Co – Delivering through Diversity
“Companies in the top-quartile for gender diversity on executive teams were 21% more likely to outperform on profitability and 27% more likely to have superior value creation. Companies in the top-quartile for ethnic/cultural diversity on executive teams were 33% more likely to have industry-leading profitability.”
Harvard Business Review – How diversity can drive innovation
“Employees of firms with 2-D diversity are 45% likelier to report a growth in market share over the previous year and 70% likelier to report that the firm captured a new market.”
PwC – Millennials at Work: Reshaping the workplace in financial services
“76% of those in the financial services sector said they considered the employer’s record on equality and diversity when accepting their current role.”
Raconteur – Employing people with disabilities boosts business
“The business case for embracing diversity is straightforward. It means you have access to talent that others may overlook and you retain talent you might otherwise lose.”
MIT
“Shifting from an all-male or all-female office to one split evenly along gender lines could increase revenue by roughly 41 percent.”
Everyone should be able to access the same opportunities and fulfil their potential. Improving diversity and equality of opportunity within charities is compatible with the moral and ethical framework under which charities are formed and operate.
The moral case for making a change is simple – it is the right thing to do and it will help us to achieve our organisational goals.
Employers are able to take positive action under equality law. Positive action means the steps that an employer can take to encourage people from underrepresented groups to take up employment opportunities. It is different to positive discrimination which is unlawful under the Equality Act.
The Equality Act 2010 – access online here.