Being The Best Or The Cheapest Is No Longer What It Takes According To PayPal
PayPal has warned its external legal advisers that work may be lost if they fail to make progress on the issue of diversity in the workplace, reports Legal Weekly. This communication arose on the back of PayPal’s diversity review led by its Chief Business Affairs and Legal Officer, Louise Pentland a champion of workplace diversity. PayPal’s future collaborations in the legal world will be with law firms who are committed to embedding diversity and inclusion into their culture.
Helen Taylor, Head of Employment at award winning leading regional law from Pictons Solicitors comments, This is not surprising. Organisations are moving away from traditional means of identifying who they want to do business with. Many decisions in the past have been based solely on price and quality. Organisations instead want to know more about who they are doing business with and whether they are doing the right things. Although diversity and equal opportunities are relevant issues for all workplaces, these factors are becoming increasingly relevant in the commercial decision making process.
PayPal’s stance may appear harsh but the financial and commercial gains may be significant for those organisations that take a genuine approach to the diversity issue. Widely available research shows that a meaningful diversity strategy is a powerful way of reaching a wider client audience and recruiting top talent.