Valuing difference: it pays to be inclusive
SSE has published its first 'Valuing Difference' report and commits to refocusing its human capital strategy to become a truly inclusive organisation.
Working with Equal Approach, independent specialists in providing inclusion and diversity solutions, SSE carried out a ‘Return on Inclusion’ (ROI) exercise to calculate the financial value generated in its investment in inclusion and diversity initiatives over the three years from 2014-2017.
The results of this detailed analysis by Equal Approach showed that for every £1 invested by SSE, there is a £4.52 ROI for gender diversity initiatives undertaken between 2014 and 2017. By refocusing its Inclusion and Diversity Strategy for 2017-2020, the results for future ROI show there is the potential to achieve £15 worth of value as the organisation becomes more focused on creating a truly inclusive workplace.
John Stewart, SSE’s Director of Human Resources, said: “For SSE, an inclusive and diverse organisation is essential to our human capital strategy and meeting the looming skills gap expected to impact the energy industry in the early 2020s. Our future commercial success genuinely depends upon the actions we take now to attract, develop and retain a workforce that can provide the skills and talent we need.
“SSE’s Inclusion and Diversity Strategy for 2014-2017 centred on three core elements, ‘IN, ON, UP’: Encouraging women IN to the business; Supporting women to stay ON at SSE; and Helping women progress UP in the organisation. Equal Approach’s analysis shows these actions delivered significant financial value for SSE, but we are committed to going further to create a truly inclusive culture right across the organisation – one that celebrates difference in every sense.
“This means we need to move from focusing on actions linked to specific individual characteristics, like gender, to actually embedding real inclusion throughout the organisation. Our new Inclusion Strategy for 2017-2020 is an important next step for SSE – one that challenges us to focus on fewer, more important factors using an evidence-based approach that drives real change. We believe that this will ensure SSE grows from strength to strength to meet the challenges of the future.”
Dawn Milman-Hurst, CEO of Equal Approach, said: “SSE now has a significant opportunity to embed the principles of inclusion and diversity throughout its business and create a truly inclusive culture over the next three years.
“Achievement of this offers substantial commercial benefits for the organisation, and would confirm SSE as an industry leader in this area that others aspire to emulate. I look forward to seeing SSE implement their new Inclusion Strategy and the business benefits gained as a result.”
SSE’s new Inclusion Strategy for 2017-2020 focuses on five key areas, building on the ‘IN, ON, UP’ elements of its strategy to date:
- IN: Candidate attraction and recruitment
- ON: Retention of talent and managing leavers to maintain positive brand exposure
- ON: Embedding inclusive values throughout the organisation
- ON: Mentoring, networks and partnerships and
- UP: Progression, promotion and creating opportunities
To make sure the organisation succeeds in the future; SSE is committed to long-term change and will nurture the principles of inclusion at every level of its operation.
Read SSE’s ‘Valuing Difference’ report here.