Diageo Recognised for Inclusion and Diversity Progress

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by KnowESG,

Diageo plc

KnowESG_Diageo Recognised for Inclusion and Diversity Progress
Image courtesy of Diageo

Diageo has recently garnered recognition as a Fertility Friendly Employer by Fertility Matters at Work.

They proudly stand as signatories of the 2023 Change the Race Ratio Report, reflecting their commitment to championing inclusion and diversity. These initiatives are integral to Diageo's overarching purpose, which is to "celebrate life every day, everywhere."

In 2020, Diageo launched the visionary 'Society 2030: Spirit of Progress' plan, outlining a decade-long ESG action strategy. This plan outlines their dedication to promoting inclusion and diversity, grain-to-glass sustainability, and responsible drinking throughout their business operations.

Diageo's overarching aim is to achieve a leadership composition that comprises 50% women and 45% individuals from ethnically diverse backgrounds by the year 2030. Notably, Diageo has received two prestigious recognitions in the UK this week for their ongoing progress in this direction.

Fertility Friendly Employer Recognition

Diageo was recently accredited as a 'Fertility Friendly Employer,' a distinction that celebrates companies committed to transforming their organisational culture by focusing on education, awareness, communication, and support concerning fertility issues.

This accreditation is bestowed by 'Fertility Matters at Work,' an organisation that educates and inspires businesses about the impact of fertility challenges on both their employees and their overall organisational health.

Diageo's recognition comes in the wake of the launch of their Fertility Guidelines in the UK earlier this year, as well as their Private Medical Insurance offering, which grants employees a lifetime limit of £10,000 to facilitate fertility treatment in addition to comprehensive coverage for fertility investigations. This recognition aligns with the UK's observance of Fertility Awareness Week, underscoring the increasing importance of addressing fertility issues within organisations.

Change the Race Ratio Progress

Separately, Diageo proudly stands as a signatory of the 2023 Change the Race Ratio Progress Report. 'Change the Race Ratio' advocates for heightened racial and ethnic diversity in UK businesses, with their annual report based on data collected from signatories at the start of each year, highlighting the progress made by these organisations.

Key findings from the report reveal that racial and ethnic minority representation at board level averages 14%. A significant 74% of respondents have established racial and ethnic minority targets for executive committees and executive committees minus one, with targets typically ranging from 10% to 20%, to be achieved by an average of 2025.

Furthermore, racial and ethnic minority representation at the executive committee and executive committee minus one levels within FTSE350 respondents averages 10.2%, with non-FTSE350 companies at 9.1%.

The report also notes that the number of respondents setting Black representation targets for executive committees has doubled compared to the previous year. Diageo is in alignment with The Parker Review, which mandates FTSE 350 companies to set percentage targets for senior management positions occupied by ethnic minority executives by December 2027.

Diageo's Progress

Diageo maintains a resolute ambition to foster the most inclusive and diverse workplace culture, ensuring the well-being and prosperity of all its employees. They take immense pride in their efforts to promote equality within their organisation and their progress toward achieving the ambitious goals outlined in 'Society 2030.' Currently, 73% of Diageo's board and 44% of their leadership cadre, including the Executive Committee, is comprised of women.

Additionally, 36% of Diageo's Board and 43% of their leadership cadre represent ethnically diverse backgrounds. These figures underscore their unwavering commitment to attaining a leadership makeup of 50% women and 45% individuals from ethnically diverse backgrounds by the year 2030. Diageo acknowledges that profound change takes time and remains dedicated to ongoing learning and continuous improvement.

For more details on Diageo's 'Society 2030' goals, readers are encouraged to explore further.

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Source: Diageo

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