INvolve has released the annual EMpower Ethnic Minority Role Model Lists 2019, supported by Yahoo Finance.
The EMpower Ethnic Minority Role Model Lists 2019 celebrate business leaders breaking down barriers at work and championing diversity and inclusion in the business agenda.
The lists come at a time when the disparity between ethnic minorities and their white colleagues is increasing, particularly with regards to pay and opportunities. To kick start change, INvolve is calling for the government to make ethnic minority pay gap reporting mandatory for businesses with 250 or more staff. Fifteen companies, including Deloitte, Sodexo, WPP, and Bank of England have signed a commitment to work towards reporting their ethnicity pay gap.
Ajay Banga, CEO, MasterCard, today tops the EMpower 100 Ethnic Minority Executives List in recognition of his work creating equal opportunities across all strands of diversity within the organisation.
Farah Siddiqui, Business Operations Manager, Salesforce is being named number one on the EMpower 50 Ethnic Minority Future Leaders List. Farah is Founder and Global President of Salesforce’s multifaith business group, Faithforce and is also being celebrated for her work with the Muslim Women’s Association in Chicago.
Nick Owen, Chairman, Deloitte, has been awarded the top place in this year’s EMpower Advocates List. This list celebrates white leaders who have used their influence to drive diversity and inclusion in all forms. Nick is being celebrated this year in recognition of the fundamental work he’s done at Deloitte to create equal opportunities for ethnic minorities, including signing INvolve’s commitment to work towards ethnicity pay gap reporting.
This year saw a great increase in listers from the media and communications industry since 2018, as well as financial services. 64% of the EMpower 50 Ethnic Minority Future Leaders List are women – an increase of 4% from last year.
The current landscape for ethnic minority employees:
• The Resolution Foundation estimates the UK ethnicity pay gap stands at £3.2bn
• Analysis by INvolve has identified there are more CEOs in the FTSE 100 called Steve than ethnic minority leaders and 51% of UK boards have no ethnic minority members
• Parker review found only 8% of director positions in the FTSE are held by a business leader from an ethnic minority
• Just 16.1% of Fortune 500 board members are ethnic minorities
• An INvolve report shows the most ethnically diverse workplaces are 35 percentage points more likely to financially outperform industry averages
Suki Sandhu OBE, INvolve Founder & CEO, says, “In 2019, it’s horrific that we’re still seeing fewer opportunities for ethnic minority employees and people of colour, and alarming ethnicity pay gaps across businesses. Each year, we create our Role Model Lists to celebrate incredible individuals and businesses who are working to drive ethnic diversity and empowerment in workplaces across the globe.”
Ajay Banga, CEO, MasterCard, says, “I consider myself incredibly lucky to work at a company where decency is the foundation for how we approach the work we do. When we lead with decency, all of our other values are supported. They’re made even stronger by a commitment to diversity.”
Farah Siddiqui, Business Operations Manager, Salesforce, says, “I am incredibly honoured to be recognised by EMpower for the work we’re doing to champion faith diversity and inclusion at Salesforce! It’s one thing to say we respect and value everyone’s differences but another to actively engage in work that fosters understanding, builds trust, and shows that respect.”