New research demonstrates that having a more ethnically diverse workforce isn’t just important for social justice – it’s also good for the economy.
The report, published jointly by the Centre for International Governance Innovation and the Pierre Elliott Trudeau Foundation, found that a diverse workforce is directly connected to increased productivity and revenues.
Diversity Dividend: Canada’s Global Advantage found that on average, a one per cent increase in ethnocultural diversity in the workforce is associated with a 2.4 per cent increase in revenues and a 0.5 per cent increase in productivity. The impact is strongest in information and cultural industries, communications and utilities, as well as business services. There was a positive impact in all sectors except basic resource processing. Information and cultural industries have an average 6.2 per cent increase in revenues for every percentage increase in ethnocultural diversity, while for education and health the revenue boost is one per cent.