Sarah Daun , partner at Womble Bond Dickinson , asks whether increased diversity is the key to continued growth in the chemical and process industry .
LAW
Diversity – Womble Bond Dickinson partner Sarah Daun .
THE POWER OF BALANCE
Sarah Daun , partner at Womble Bond Dickinson , asks whether increased diversity is the key to continued growth in the chemical and process industry .
Teesside is home to the largest chemical complex in the UK , and the second largest in Europe in terms of manufacturing capacity . The Tees Valley industrial cluster produces around 30 per cent of the UK ’ s chemical output and contributes approximately £ 2.5bn a year to the local economy .
Continued investment in the region by both existing businesses and new inward investors is a testament to the area ’ s industrial and manufacturing strength and global reputation .
However , the chemical industry is towards the front of the queue in terms of our sectors facing an ageing workforce , a well-documented skills gap and an increased demand for new skills in advanced analytics , artificial intelligence and automation .
It is clear that attracting more diverse talent could be a key part of the solution to these challenges .
Women can and should be part of the solution Gender diversity has been steadily improving in the UK chemical industry , but there is still more that can be done . Between 2010 and 2020 , the percentage of females employed in the industry grew by less than 10 per cent .
Today , roughly only 30 per cent of the industry ’ s workforce is female . While a far cry from the male-dominated industry of the past , which saw male-only facilities at ICI ’ s former industrial complex on Teesside , there ’ s still work to do in improving gender diversity in the sector .
The case is clear . According to renowned research expert McKinsey , the business case for gender , ethnic and cultural diversity in corporate leadership is strong . Companies where more than 30 per cent of the executives are women are more likely to outperform their less diverse peers in terms of their profitability .
The chemical and process industries require a skilled workforce that can adapt , innovate and
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