Bristol24/7 Presents: How can we make Bristol's boardrooms more diverse? / diversity
How diverse are Bristol’s boardrooms?
Like the rest of the UK, it’s fair to say that Bristol has a long way to go before we have achieved truly diverse leadership across the board.
According to data from Company Matters, 96 per cent of the directors of firms listed on the AIM and 95 per cent of the FTSE 100 are white. When it comes to gender, the numbers aren’t much better. Of the FTSE 100, only eight per cent of CEOs are women.
There’s a glaring lack of diversity in our boardrooms. This isn’t just disappointing but also has negative impacts on businesses and organisations.
is needed now More than ever
A report by McKinsey and Co found that companies in the top quartile for racial and ethnic diversity are 35 per cent more likely to have better financial returns than their non-inclusive competitors.
Diversity in Bristol is something we should be celebrating – photo: Jon Craig
It is clearly beneficial to have diverse boardrooms – yet the voluntary targets are meaning we are slow to see progress and leadership across the city and the UK remains to be held by a narrow demographic.
To tackle the issue, the Financial Conduct Authority (FCA) recently proposed that at least one senior position, should be held by a woman, and at least one board member should be from a non-white ethnic minority background.
The FCA also plans to introduce targets that include sexual orientation, disability and lower socio-economic backgrounds.
Beonboard is a programme based in Bristol run by Kalpna Woolfe that aims to support businesses and organisations to improve the diversity of their governing bodies and boards.
Following 20 years at the BBC and places on multiple boardrooms, Kalpna found that she was often an anomaly and surrounded by “white, middle-aged, middle-class men”.
Kalpna Woolf is committed to improving diversity in the boardroom – photo: Kalpna Woolf
Beonboard connects a diverse range of board-ready executives and matches them with businesses. In addition, the programme explains the importance and range of benefits of having diverse leadership.
“If Bristol wants to be fit for the future, it has to think about who the leaders are and how we are working together and building role models. If we don’t have diverse role models, then our young people are not going to hang around,” Kalpna previously told Bristol24/7.
To hear more about diverse leadership in Bristol, you can sign up for the Bristol24/7 Presents: How can we make Bristol’s boardrooms more diverse?
Sponsored by TLT, the free panel event featuring experts from across Bristol will take place on November 18 at 2pm.
Main photo: Bristol24/7
Read more: New scheme aims to boost diversity in Bristol’s creative industries
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