Regulation Tomorrow Plus: DE&I series “Inclusivity”

In the fifth podcast in our DE&I series, Simon Lovegrove, Hannah Meakin and Hannah McAslan-Schaaf are joined by Alasdair Scott from GP Strategies to discuss inclusivity, how well contributions, presence, and perspectives of different groups of people are valued and integrated into an environment. Inclusivity has become essential in business today with new joiners looking for a specific working culture, one that fosters respect, humility and caters to the requirements of a diverse workforce. For example, Glassdoor found that 76% of job seekers reported that an inclusive workplace is an important factor when evaluating companies and job offers. Also, inclusivity provides businesses with competitive advantage, in a 2023 McKinsey report it was found that organisations with parity in gender and ethnicity representation in senior roles saw profit levels 39% higher than their peers. The FCA and PRA both see the benefits of inclusivity and in their consultation proposals new measures are included for firms to report on a selection of inclusion metrics so as to provide a baseline of measurable data within financial services firms and across the sector.