FRC: More needs to be done to promote diversity across all levels of FTSE 100 companies
11 Jul 2019 12:00 PM
New research from Cranfield University, which is being supported by the Financial Reporting Council (FRC), has found many FTSE 100 companies are implementing a tick box attitude to diversity.
While the percentage of women on FTSE 100 boards has risen to 32% (an all time high) and is now on track to reach 33% by 2020, more needs to be done to promote diversity across all levels.
The research has found that women serve shorter tenures than men (on average, female non-executive directors serve 3.8 years – with men serving 5 years) and are less likely to get promoted into senior roles, while just 11% of women on boards are from Black, Asian or other Minority Ethnic backgrounds.
Stephen Haddrill, Chief Executive of the FRC, said:
“Diversity at Board level, and at all levels of the workforce, adds real value to business culture and the bottom line.
“While I welcome positive progress at some of the UK’s largest companies in appointing more women to board level roles, it is clear more needs to be done to promote diversity across all levels of FTSE companies.
“Current efforts need to be reinforced.”
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William BoyackCommunications Manager