Investment Week | Board gender parity delayed to 2059 at current pace
4th October 2017 1 minute read
Considering the accelerated increase of the country’s racial diversity as a whole, only 3% of Britain’s top tier, in terms of power and influence, are from an ethnic minority. It seems that while the concept of power being reserved for only the white privileged grows outdated, the reality is shockingly current.
With greater organisational diversity leading to increased innovation and sustanability and proven to achieve profit above the industry median, why is it that 97% of the most powerful people are not of an ethnic minority? Green Park collaborated with Operation Black Vote to carry out a closer inspection of the correlation between race and power within the most senior leaders in the UK’s public, private and third sectors. This assessment showed that out of over 1000 leaders, only seven were BAME women, with only eleven men and women being of an Afro-Caribbean descent.
Without a change to the ‘face’ and race of power, it is likely to divide not only the elites, but also cause social tension on a wider scale. The unfair educational system leads to a waste of talent, that costs Britain approximately £24 billion per year. Priorities should be to clear the path for talent of all races and backgrounds to boardroom positions and unblock the passage between middle and senior management which may be the cause of the low diversity in the FTSE.
This article was published in the Huffington Post on 26th September 2017. To read the full Huffington Post article, click here.