Sapphire Partners is proud to be one of the first executive search firms to sign up to Change the Race Ratio's targets accelerating diversity in business.
Launched by the Confederation of British Industry (CBI) in October 2020, Change the Race Ratio is supported by some of Britain's biggest firms and has the aim of increasing participation in business across racial and ethnic groups.
Businesses across all sectors are working with Change the Race Ratio to ensure they are making the best possible progress towards achieving its objectives.
As signatories to the campaign, companies make the following four commitments:
This involves setting targets to achieve at least one racially and ethnically diverse board member by the end of 2021 for FTSE 100 firms, and by 2024 for FTSE 250 companies.
Here firms must take action at ExCo and ExCo minus one to set clear and stretching targets and publish them within 12 months of making this commitment. In addition, they are committed to establishing a separate target for black participation at both levels.
Signatories are committed to publishing a clear action plans to achieve targets and share progress in their annual reports or on their websites. They must also disclose their ethnicity pay gaps by 2022 at the latest.
The focus is on recruitment and talent development processes to drive a more diverse pipeline; data collection and analysis; fostering safe, open and transparent dialogue, with mentoring, support and sponsorship; and working with a more diverse set of suppliers and partners, including minority-owned businesses.