The analysis shows there are only five ethnic minority CEOs in the FTSE 100 compared with six CEO scalled Steve.
This lack of representation continues in the FTSE 250 with the number of ethnic minority CEOs equalling the number of CEOs called Andrew. The research reinforces the question of whether businesses are doing enough to promote diversity within their own workplaces.
Steps have been taken in the last year to address non inclusive policies in business that disproportionately impact ethnic minority employees, such as Theresa May launching a consultation stating that it may become mandatory for employers to announce their ethnicity pay gap, and ITN banning all-white shortlists across future roles. However,these won’t solve the issue overnight and there is still a very long way to go.
The current state of affairs reinforces the need to celebrate role models who are empowering ethnic minority employees:
- A report by INvolve shows that the UK economy is losing £2.6bn due to ethnic minority discrimination.
- 51 of FTSE 100 companies have no ethnic minority board members
- Barely 3% of the most powerful, prominent 1,000 people in Britain are from ethnic minorities
2019 marks the fourth year of the EMpowerEthnic Minority Role Models Lists. They showcase business leaders who are breaking down barriers at work and working hard to smash the ceiling for ethnic minorities in the UK, Ireland, Europe, and people of colour in the United States and Canada. Representing multiple sectors and industries, those on the EMpower Role Model Lists have not only achieved success in their own careers but used this to actively drive for more inclusive workplace.
Suki Sandhu,Founder & CEO, INvolve commented:
“Our lists exist to showcase the incredible work being done by ethnic minority leaders and future leaders in business, and those driving the change for more inclusive workplaces. Whilst we can’t just inject diversity into every level of the business world overnight,we must work harder to celebrate diverse role models and advocates and provide a platform for those making real change. We believe that those who have achieved personal success have a responsibility to inspire the next generation of leaders, which is why we will continue to celebrate diversity in the workplace with our Role Model Lists. That is why we are proud to be launching nominations for 2019 and can’t wait to hear from more inspiring talent.”
Claudine Adeyemi, EMpower Ethnic Minority Future Leader 2018, Associate at Mishcon de Reya, and Founder & CEO of Career Ear
“This research demonstrates there’s a lot more organisations must do to create diverse workplaces. Ensuring we have diversity at the top of business, provides others with role models to inspire those who are starting out in their career. The EMpower lists play a valuable role in encouraging more ethnic diversity in businesses by shining a light on the hard work that myself and other listees do to improve the working landscape for people from black and minority ethnic groups.”
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