One of the most fundamental financial benefits of an inclusive growth approach is improved productivity because people are healthier and happier in their work – they are more motivated and engaged.
This can be for a number of reasons, ranging from flexible work options for those with a disability or care responsibility as well as a better work life balance for all; to opportunities to retrain, upskill and progress; to working with a broader mix of people – gender, age, race and ethnicity – bringing with it different perspectives and fresh ideas. This in turn will help to solve recruitment challenges alongside a wider range of voices to improve business growth.
It could also be about changing the model of the supply chain. Using local suppliers not only reduces a business’s carbon footprint, but it also keeps money in the local economy and helps to facilitate growth in the local supply chain.
There is no doubt that it is the ‘right thing to do’ in terms of diversity, social responsibility and greener practices, but inclusive growth also makes good business sense with some very real financial benefits.
A fairer, greener future for Plymouth benefits everyone.
Improving prosperity, as well as health and well-being, across all parts of the Plymouth community will in turn improve the economic growth of the city. Addressing and finding solutions to the challenges through re-thinking business practices is key to making that positive change happen.