Despite improvements made in gender, ethnicity and LGBTQ+ representation, 35% of retailers still have all-white boards and more than half of executive committees lack any ethnic diversity, a new report from the British Retail Consortium (BRC) and the MBS Group has found.
However, the 2024 Diversity and Inclusion in UK Retail report found that female representation at the board level had increased from 32.6% in 2021 to 42.3% in 2024 and the percentage of ethnic minority leaders on boards has nearly tripled, climbing from 4.5% to 12% in the same period.
Two-thirds of businesses now identify at least one senior leader from the LGBTQ+ community, up from just 27% in 2021.
However, here is a notable lack of disabled role models, with just 11% of respondents able to identify a disabled leader within their business.
“I am proud to see the strides retailers have made in just three short years to improve diversity,” said Helen Dickinson OBE, chief executive of the British Retail Consortium, “However, the progress on diversity will only be meaningful when it happens in tandem with creating a workforce where every employee feels included and valued. More focus is needed on changing workplace culture to enhance inclusion.”
In the face of economic challenges, the report warns that some businesses may deprioritise their diversity and inclusion efforts. Inclusive workplaces are linked to higher employee engagement, productivity and reduced turnover, all of which contribute to a company’s bottom line.
Elliott Goldstein, managing partner at The MBS Group, said, “Promisingly, we’ve seen real progress since our research began in 2021. However, to ensure lasting change, retailers must continue to drive initiatives that ensure diversity across all characteristics and build truly inclusive work environments.”
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