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Human rights are basic rights and freedoms that protect us all. They are based on dignity, fairness, equality and respect. Businesses have a significant impact on the way we live our life and enjoy these human rights, whether it’s as an employee, a customer or simply living alongside companies that share our cities and towns. Aside from it being the right thing to, it also makes good business sense to respect human rights. Businesses can find themselves involved in lawsuits, suffering reputational harm and missing out on business opportunities and investments as well as the chance of recruiting the best new employees.
[1]Businesses are increasingly focused on the impact they have on individuals, communities and the environment. It is clear that one of the central measures of a company's social responsibility is its respect for human rights. And while most companies recognize the moral imperative to operate consistent with human rights principles, recognition is growing that respect for human rights also can be a tool for improving business performance.
[2]Business Case for Gender Equity, Diversity, and InclusionHuman rights and business are not mutually exclusive – businesses that are diverse and recognize rights do better:
- Highly gender-diverse executive teams are 21% more likely to outperform on profitability.
- Gender-diverse companies that are also in the top-quartile for gender-diverse executive boards are 27% more likely to have superior value creation.
- 85% of CEOs with diverse and inclusive cultures notice increased profits.
- Companies with equal men and women earn 41% more revenue.
- Racially and ethnically diverse companies are 35% more likely to perform better.
- Diverse teams are 70% more likely to capture new markets.
- Diverse teams are 87% better at making decisions.
- Inclusive companies are 1.7x more innovative.
- Companies that have a highly inclusive culture have 2.3x more cash flow per employee.
- Inclusive companies are 120% more likely to hit financial goals.
Companies with a wide representation of people of different races, genders, ages, and religion have a leg up on the competition. And the data above supports that point.
[3]Session DetailThis session will present a case for why Gender Equity, Diversity and Inclusion needs to be an essential priority for governments and business enterprises. The goal of this informative session is to increase awareness and understanding of why there is a need and how business can progress further towards mainstreaming Diversity, Gender, and Inclusion to create and sustain safe, equitable, inclusive, and enabling workplaces for everyone.
The session aims to:- Raise awareness on why Diversity, Gender and Inclusion in workplaces matters;
- Highlight the key challenges, opportunities, and progress in reference to Diversity, Gender, and Inclusion in workplaces; and
- Recommend approaches for mainstreaming Gender Equity, Diversity, and Inclusion in workplaces.
[1]Equality and Human Rights Commission . (2019, August 16).
Human rights and business. Retrieved from Equality and Human Rights Commission : https://www.equalityhumanrights.com/en/advice-and-guidance/human-rights-and-business
[2] OHCHR. (2000, January).
Business and Human Rights: A progress Report. Retrieved from https://www.ohchr.org/documents/publications/businesshren.pdf
[3] Perry, N. (2020, December 16).
20 Diversity in the Workplace Statistics to Know for 2021. Retrieved from Fundera: https://www.fundera.com/resources/diversity-in-the-workplace-statistics
Session organized by United Nations Entity for Gender Equality and the Empowerment of Women (UN Women)
