Financial Reporting Council (FRC) Research Project: LGBTQI+ senior representation and leadership in FTSE 100 and FTSE 250 Companies

Financial Reporting Council (FRC) Research Project: LGBTQI+ senior representation and leadership in FTSE 100 and FTSE 250 Companies

Summary The FRC is encouraging listed companies to increase the level of diversity in their UK operations. The market environment in which FTSE companies operate is increasingly diverse as a result of globalisation, increased participation in the workforce and changing demographics. UK companies need to consider how diversity and inclusion are relevant to the specific circumstances of their business, the markets they operate in, the workforce upon which they rely and the customers and communities they serve.

In addition to its own monitoring of corporate governance and reporting, the FRC is interested in gathering evidence specifically on the challenges and opportunities that LGBTQI+ individuals may experience in progressing to the Boards of FTSE100 and FTSE250 companies and Executive Committee roles (the pipeline to Board positions).

One of the principles of good governance is that Boards should be diverse in their composition. In the context of corporate governance, diversity is a broad concept, encompassing diversity of skills, experience, social background, personal strengths and mindset, as well as those protected characteristics included in the Equality Act 2010.

The FRC would like to better understand the following, with respect to companies in the FTSE100 and FTSE250 (with separate analysis for each group): 1. What is the prevalence of visible and open LGBTQI+ role models on Executive Committees and Boards? How has this changed in recent years? 2. Are there barriers to LGBTQI+ people progressing to Executive Committee and Board level? If so, are there consistent themes to those barriers? 3. Can a set of good practices/procedures be identified that supports LGBTQI+ employees' progress to Executive Committee and Board level? 4. Which, if any, social or public policies or legislation have helped LGBTQI+ people to progress to Executive Committee and Board positions (including overcoming any barriers that exist), and to become visible role models? The FRC welcomes proposals to effectively investigate the questions above. We would like proposals to include recommended methods/approach, potentially also including alternative methods/approach as options (with associated pros and cons including costs), and an estimated project timeline.

The customer for the work is the Financial Reporting Council.

Depending on the approach recommended, the project is expected to take place over a period of six months, starting as soon as possible after award of the contract (w/c 28 October 2019).

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Additional information: CONTRACT AWARD NOTICE - OPPORTUNITY CLOSED

Financial Reporting Council (FRC) Research Project: LGBTQI+ senior representation and leadership in FTSE 100 and FTSE 250 Companies