The United Kingdom has set more DEI targets for companies to meet in the next four years.
The Parker Review Committee set up by the government in 2015 made recommendations for ethnic diversity targets for the companies. The measure was part of the initiatives to rope in more women and people from modest social backgrounds in top corporate and financial roles, said news reports.
Now, the top listed and private companies will have to focus on broader voluntary targets concerning ethnically diverse board members and senior staff by 2027.
The committee has observed that in 2022, 96 of the FTSE 100 companies reached one of the targets of having at least one minority ethnic director on their boards, while 49 companies have more than one minority ethnic director, achieving the goal set in 2017.
The new targets have sought all the top 350 listed companies to fix a target for senior management positions by December 2027.
The news reports quoted committee chair David Tyler as saying, “We have long argued that companies benefit from ensuring that succession planning and management development plans include the development of ethnic minority executives.”
