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Norman Broadbent

Be bold … A new Gold Standard for smaller companies

Is now the time for our UK smaller companies to embrace diversity and blaze a further trail of innovation and creativity? As the battle to find and retain key staff intensifies, can tapping into more diverse talent pools help not only meet new and complex competitive challenges, but also improve future recruitment and retention?

With the FTSE 350 under the microscope and subject to greater scrutiny, should our UK smaller companies collectively and voluntarily subscribe to a new Gold Standard of diversity and inclusivity?

A recent report from the Department for Business, Energy and Industrial Strategy (BEIS) makes for shocking and uncomfortable reading. But this could be an opportunity for smaller companies to differentiate themselves from much larger businesses. Smaller companies are typically more agile and entrepreneurial, and by being nimble and open when dealing with diversity and inclusivity, they could set new standards for UK plcs, presenting themselves as a force for good and helping to drive corporate creativity, innovation, profitability and shareholder value.

With the above in mind, what should trail-blazing boards be considering?

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.