Ittai Ben Zeev, CEO of TASE, said today: "Israel's strength derives from its diversity. This must also be reflected in the Israeli economy in order to ensure its strength and durability over time. An economy that is based on inclusivity and a diversity enables an equitable distribution of resources, capital and opportunity. We believe that now, more than ever, in these financially challenging times, it is important to protect and adhere to this principle, both in recruiting employees and more so when downsizing."
TASE is launching a new social awareness campaign that aims to maintain and encourage workplace diversity in Israel. TASE is the originator of the billboards and ads published over the past few days nationwide, encouraging the hiring of Arabs and Orthodox Jews under the slogan "#Israel_Recruting, in Hebrew- similarly meaning #Israel_StepsUp". In the answer to ads- TASE calls the government and Israeli companies not to dismiss workplace diversity, but rather to step up and continue the integration of various sectors in the workplace.
TASE believes that, even when they are forced to make difficult decisions during these times of financial uncertainty, managers must keep diversity and inclusion on the table. These values must be pursued during periods of growth and even more so in periods of downsizing, as they are crucial to companies' strength. The campaign encourages the new government and Israeli companies to protect workplace diversity and take weaker populations into consideration in their decisions. TASE explains that "the strength of the Israeli society and economy stems from the unique combination of voices, sectors and populations: women and men, Orthodox Jews, Arabs, Ethiopians, people with disabilities and more."
In addition to the moral stance, multiple studies have demonstrated that a growing economy is one that is based on workplace diversity: socially diverse companies are more successful, more innovative and more durable. A study conducted by global consulting firm, Boston Consulting Group, covering 1,700 companies worldwide, found that companies with an above-average diversity were more innovative and more profitable: the revenue from innovation was 19% higher and the EBIT was 9% higher than those of less diverse companies. A rich composition of employees also entails greater diversity in management levels, which many companies now strive to achieve.
The current campaign is not TASE's first initiative for the advancement of social causes. In the past two years, TASE has been advocating for small businesses impacted by the COVID-19 pandemic, through "It's Our Business" campaign, in which TASE called the Government to establish a dedicated a national fund for immediate assistance to small and medium business owners. Another campaign, entitled "Who's Afraid of Women?", addressed the representation, or lack thereof of women in senior and C-Level management. At TASE, we strongly believe that as a pillar of Israel's economy, marketing budgets should also be allocated to the advancement of values in business.
The campaign was carried out through the advertising agency Citymedia.
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