McKinsey’s research latest research delves into the often-overlooked population of ethnocultural minorities in continental Europe. The study aims to provide CEOs and business leaders with a comprehensive understanding of the potential, educational backgrounds, and employment experiences of this diverse group. By doing so, McKinsey aims to uncover a strategic avenue for companies to not just bridge talent gaps, but also contribute to empowerment and improved social cohesion. What’s not to like?
Ethnocultural minorities in Europe
The report sheds light on the ethnocultural minority landscape across 11 European countries. The research estimates that ethnocultural minorities represent anywhere from 5 to almost 20 percent of the population, with the mix varying significantly between countries. Surprisingly, the largest ethnocultural minority population across the analysed countries comes from Asia, comprising one-third of the total and dominating countries like Germany and Denmark.
Source: McKinsey
Breaking educational stereotypes
Contrary to common perceptions (or: stereotypes), McKinsey’s research dispels the myth that ethnocultural minorities have lower levels of educational attainment. In fact, tertiary education rates among this group are on par with non-minorities. For instance, in the Netherlands, 31% of the estimated ethnocultural minority population has completed tertiary education, only three percentage points less than their non-minority counterparts. In Denmark, the number of ethnocultural minorities even have a much higher tertiary education rate.
Systemic bias against ethnocultural minorities
And that’s where the real kicker comes in, because it’s really hard to argue against any of the numbers McKinsey puts up. Despite comparable levels of education, ethnocultural minorities are two-and-a-half to three times more likely to be unemployed. And once employed, they are almost twice as likely to be overqualified for their roles. This underscores a significant opportunity for companies to tap into this educated talent pool and address skills gaps.
Despite comparable levels of education, ethnocultural minorities are two-and-a-half to three times more likely to be unemployed.
But that’s not all. The research explores the challenges faced by ethnocultural minorities in the workplace. They are twice as likely to report missing out on advancement opportunities and two-and-a-half times more likely to experience biased behaviours at work.
Triple win?
Despite these challenges, McKinsey says that greater inclusion of ethnocultural minorities could represent a triple win. Firstly, it could foster growth for companies. Secondly, it could support the wider economy, and thirdly: strengthen economic empowerment for individuals and their families.
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