‘Educate your people’
Michael Hall
12 April 2024
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4 min read
The Prudential Regulation Authority (PRA) and Financial Conduct Authority have published a consultation paper seeking to boost diversity, equity and inclusion to support healthy workplace cultures.
Firms would be required to report certain DEI data, establish, implement and maintain a DEI strategy (overseen at board level), determine and set appropriate diversity targets and recognise a lack of DEI as a non-financial risk.
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There are six ways in which firms can apply these latest standards.
Diversity of thought
It is crucial for leaders to understand the business benefits of DEI.
Research has shown that diverse teams are more innovative, producing a higher…
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