North adds that “regulators also need to get their own houses in order to ensure they are setting good examples and factoring in the impact of a diverse workforce and client base on business needs.
"It is likely that many regulatory processes will need to also be adapted over time to take account of varied needs, for example tight reporting deadlines or onerous fees can disadvantage smaller firms and this negatively impacts the diversity of the advice population and services on offer.”
Regulation will lead to better outcomes for the workforce in the same way we want better outcomes for clients, and “we need that to start at home, as it were," says Streames.
"Everything we do within an organisation is reflected out to our clients and people we are serving so regulatory steps would help this."
It is clear that the world is now a diverse place and so businesses have to keep up with this.
To truly deliver inclusivity is not always easy and an open forum culture has to be in place with everyone open to listening to everyone's needs, views and truly including them in the company growth and day-to-day activities within the business.
The Financial Conduct Authority says that increased diversity and inclusion can result in "improved governance, decision-making and risk management within firms, a more innovative industry, and products and services better suited to the diverse needs of consumers."
An FCA spokesperson said: “While the industry has made some progress on diversity and inclusion, we want to work with firms to increase the pace of change. We will set out proposals for consultation later this year.”
Anita Boniface is a freelance journalist
