Friday, 8 October 2010

Large companies must embrace diversity

8th October 2010 - A week after the Equity Act became law there is a headline on the website "Corporations 'must embrace diversity'"

The report goes on to say "Large companies must embrace diversity if they are to cut costs and improve their products, according to business leaders.

The comments came at an awards ceremony for supplier diversity in which Pepsi scooped the 'corporation of the year' award, narrowly beating ExxonMobil.

"Despite significant progress over the last few years, the volume of business won by ethnic minority owned businesses in the UK remains small," said Sara Todd, chair of Minority Supplier Development UK (MSDUK) and executive director at Merck Sharp & Dohme (MSD).

"In the US, companies have been far quicker to embrace supplier diversity and the resulting commercial benefits."

Ms Todd also encouraged minority-owned businesses to improve their professionalism and better understand the needs of large corporations.

Mayank Shah, Director of MSDUK, added: "Given the changing make up of the UK's population and the need to build a sustainable economic recovery, it's critical that diversity is debated at a national level.

"Discussions at the conference around the impact of the new Equality Act, the business case for diversity and processes to extend the supplier base were all keenly attended."

The Equality Act, which brought together nine separate pieces of equality legislation together, came into force last week.

Ethnic minorities were largely unaffected by the new law, which consolidated and cleared up various strands of legislation from previous decades.

Aspects relating to audits of firms in a bid to narrow the gender pay gap are still under review by the government, however, with an eye to avoiding placing any new demands on British business as the economy emerges from recession." is the leading specialist UK politics news website. Each month more than 300 new and original articles are written by our in house team of journalists attracting more than 100,000 unique visits from MPs, journalists and politically aware members of the public.'s strength lies in its unique blend of breaking political news and useful reference content covering everything from the workings of the political system to the key people and organisations in the world of politics. is politically neutral. It provides objective, factual and balanced political information. It is governed by an editorial policy that ensures all major arguments about a political issue are represented and that material is based on clearly identifiable is owned and run by Adfero Ltd, the UK's leading dedicated provider of online news

The Equality Act 2010 - Are you compliant? Find out here how jml Training can help your organisation

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