On October 1st 2020, the Confederation of British Industry (CBI) introduced a campaign called ‘Change the Race Ratio’. The purpose of this campaign is to raise awareness and to increase the number of ethnic minorities in top senior positions. Though this topic is not entirely new as it was covered in the Parker Review back in 2016, progression is slow.
Diversity
Organisations such as CIPD, Aviva, Microsoft and Wincanton have joined alongside CBI to make that change happen. Companies wanting to ‘change the race ratio’ must review their policies such as recruitment, talent development, diversity and to encourage qualified ethnic minorities to apply for senior board members roles.
CBI have set clear targets and timelines to achieve their objective. For example, by the end of 2021 – at least one ethnically diverse Board member needs to be on the named FTSE 100 and 2 on the FTSE 250 by 2024.
With such strong deadlines – how can we start to ‘change the race ratio’?
The CBI have outlined a number of objectives for companies to achieve, for example to change the work culture. Research has found that employer should create a working environment whereby all talent from different backgrounds can thrive on. Being transparent about their roles, mentoring and supporting employees through their career is fundamental in pushing the boundaries. It is also important to engage with external training organisations too to assist with supportive 121 mentoring and ongoing development so that anyone can achieve their career aspirations.
Another action would be to consider publishing a transparent action plan with targets, focusing on ethnic employees’ job functions and pay within the workplace. This information is useful to compare past and present pay gaps and job roles within the annual reports. This will help identify areas with no change and to look at positive ways to adjust this.
If your organisation wishes to get involved in ‘change the race ratio’, make a commitment and to become a signatory - go to www.changetheraceratio.com. The website shares how to make the change happen.
The article is for general information purposes only and should you require any further assistance on the matter please do not hesitate to call our advice-line team on 01455 852028.
