Eighty percent of GPs are engaging with organisations to assist with the recruitment and retention of diverse groups, according Meketa’s third annual DE&I questionnaire.
The investment consultant asked 923 managers a series of questions relating to their approach to DE&I, of which 528 responded. The 2022 response rate of 57 percent was a 5 percent increase on 2021, and a 55 percent improvement from 2020.
The full survey can be found here. A few key takeaways:
The survey identified a 4 percentage point increase, from 78 percent in 2021 to 82 percent in 2022, in firms with a formal DE&I policy. Seventy percent of firms now also have a DE&I committee that includes senior management.
In contrast, just 37 percent of managers have formal diversity targets, although this was a 6 percentage point rise compared with last year. DE&I metrics also gained greater importance in performance reviews – 42 percent of respondents included DE&I objectives in their reviews, up from 6 percent from 2021.
There was an 11 percentage point increase in firms monitoring gender pay gap disparities, and a 12 percentage point rise in those that are doing so for differences in pay between people of different ethnicities.
Overall, 57 percent of GPs are now monitoring the gender pay gap, with a further 3 percent planning to do so in the next 12 months. Slightly fewer managers (47 percent) are monitoring the ethnicity pay gap.
The percentage of GPs that reported considering DE&I policies when selecting service providers has steadily risen in recent years, though GPs that do are still the minority. 28 percent reported doing so in 2022, up from 24 percent in 2021 and 18 percent in 2020. The percentage of firms that partner with minority, women, and disadvantaged business enterprises service providers, though not falling, increased at one-third of the rate it did in 2021.