The Board Diversity and Effectiveness in FT350 Companies report found that efforts to diversify boards results in better corporate culture and performance.
To maximise these benefits, however, business leaders and boards must recognise that change takes time diversity without active inclusion is unlikely to encourage new talent to the board.
The report, published by the UK’s Financial Reporting Council (FRC) in conjunction with London Business School, Leadership Institute and SQW, concluded that many board members have largely committed to diversity; and boards have made efforts to change with some success, especially in relation to gender diversity. However, boards still have a very long way to go to fully access talent and reflect the UK population.
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