- Oliver MacMahon
- 24 April 2023
- 2 min
Our latest research looks at how UK companies are reporting on equality, diversity and inclusion (EDI) and shares advice on how companies can improve their EDI communications.
Forward-thinking companies have long embraced the benefits of nurturing an equitable and diverse workforce. Yet stakeholder expectations and regulatory requirements are intensifying the need for all companies to develop, implement and communicate an appropriate plan of action regarding equity, diversity and inclusion. Failure to recognise this demand and the opportunities inherent in getting this right could have negative repercussions in the short, medium and long-term. The time for talk is over.
Many UK-based companies are making efforts to evolve their businesses to integrate EDI considerations but could communicate better to evidence their progress. Our latest research suggests that there is clear opportunity for companies to improve both their disclosures and their approach to external and internal engagement. Within this research, we share best practice guidance to help companies implement change or improve their reporting and communications (download the full report below).
Our research finds that many companies are formalising their approach to EDI and some are using appropriate language to effectively relate to ongoing public discourse. We also find that some companies are more openly reporting against mandatory and voluntary disclosure requirements, communicating transparently about their policies and strategic intentions. There is, however, opportunity to better link up and explain their material issues and the outcomes they are seeking to achieve and their progress. There is also opportunity for them to better communicate their approach to EDI across multiple channels.
Improved equity, diversity and inclusion can enhance a company’s commercial and strategic success. A good approach to EDI communications is one based on firm foundations. It is crucial for companies to understand that a focus on EDI should be integrated throughout their entire business and be authentic and reflective of practice. This aligns with both mandatory and voluntary requirements.
Companies must also fully engage their stakeholders in their approach. This means involving them throughout developing a strategy, its implementation and ongoing practice. Be authentic and evidence progress to maximise impact.
At our summer series event, ‘Beyond compliance: making social value meaningful,’ our expert panel will look at the social issues that are top of the agenda right now – attracting and retaining talent, building a diverse and inclusive workforce, and employee engagement – to explore how companies can develop a truly connected approach and reflect this in their communications.
Click here to discover more about our summer series of events, ‘Building business resilience.’
Download the white paper below.