Board Diversity: FTSE 350 Progress Made...and Progress Still to be Made
Hot off the press, released just hours ago by Thomson Reuters, are results from the company’s FTSE 350 Boards’ analysis, in particular its findings from research on #diversity developments around the Board table.
The conclusions, on the surface, are encouraging: the number of black, Asian or minority ethnic Directors (#BAME) on FTSE 350 Boards jumped by over 100% over the last year.
This said, in absolute terms, the number is still very limited. This is to say, undertaking analysis of 272 companies within the FTSE 350, Thomson Reuters discovered that there are now (just) 123 #black, #Asian or #minority ethnic Directors versus the (even lower) 59 last year.
Assuredly there is improvement: 45% of the FTSE 350 now have one BAME Director on the Board, an increase from 21% in 2020. And, as Thomson Reuters’ Director in Practical Law Hilary Owens Gray reflected, this represents “great strides” and is to be applauded. However:-
- It is imperative that companies do not become complacent: momentum must be maintained and, moreover, wholly pursued, from Board level to grass roots level…and with the agenda comprising not only diversity but also #equity, #inclusion and #belonging.
- It is vital that Companies yet to ‘get on the bus’ consider soon taking that leap. Impending regulation will require it and, too, “Evidence shows that more diverse businesses can be more successful businesses and ultimately deliver better long-term returns for shareholders.”
What more can you do, as #business #leader, to advocate, promote and effect greater diversity, equity, inclusion and belonging in your organisation?
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