“Diversity is not just a female issue”. Are you missing easy opportunities to improve performance and productivity?
In the summer, as part of its wider remit on governance, the Financial Reporting Council (“FRC”) launched the Female FTSE Board Report, created in conjunction with Cranfield University. The central theme was the advantages of diversity for everyone.
As the Director-General of the CBI, Carolyn Fairbairn states in the Report:
“The case for workplace equality is watertight: companies with diverse boards perform better. Embracing diversity is one of the greatest opportunities available to businesses today”.
However, obtaining diversity needs to be more than just having an underrepresented group on the short list for a particular role. All too often, there are wider structural considerations which make hiring on a diverse basis more difficult and expensive.
Areas which are often overlooked can include:
– Recruitment policies. Has the need for “ease” or “efficiency” in the recruitment process meant that the talent pool you are choosing from is less diverse from the outset?
– Working practices. Rigid working structures, focused on “being present” may stop people (both men and women) applying for roles as they require more flexibility to meet their wider commitments.
– Performance reviews. Are you measuring for diversity?
Changes made within an organisation that encourage a more diverse workforce will assist greatly in creating a diverse leadership team in the future.
For further information or to discuss any questions you may have, please contact Stuart James.