The Elevate Pledge 2022 Annual Report has been saved
The Elevate Pledge 2022 Annual Report
Measuring Diversity to Drive Real Change
The Business in the Community Ireland (BITCI) ‘Social Inclusion Sub-Group’, which I had the pleasure of co-chairing this year, recognised that social equality is a fundamental driver for sustainable economic growth and recovery, and set about identifying a responsible business approach to reducing inequalities and achieving a fairer more inclusive society. Building on the Employer Blueprint published in 2019, Elevate now takes the next step in understanding the profile of our signatory companies, how we stack up against Irish society and sharing progress against each organisations committed actions in building an inclusive society, starting with their own organisation.
Last Year, I signed the inclusive workplace pledge on behalf of Deloitte committing to broaden the diversity profile of our own workforce. Since then, the world has seen seismic events, including a global pandemic and a global movement for inclusion. These events have forced us to think more deeply as to what we value as a society. They have highlighted vulnerable and marginalised sections, and the growing gap in access to information and resources.
In turn, they have elevated the need for business to articulate and undertake its role as a responsible stakeholder – responsible to its people, its community, its planet. While few businesses anticipated these changes, this inclusive workplace pledge marked our commitment to clear and measurable targets to improve inclusion, holding ourselves accountable in our ambition.
We recognise that all employers are on a different journey, and there will always be more to do. I hope that our signatories, and all organisations in Ireland find this publication insightful and that it inspires meaningful action in providing an inclusive workplace culture every day, built on a foundation of respect and appreciation for diversity in all its forms.
Inclusiveness should be inherent in business, and I look forward to continuing this journey with BITCI and my fellow signatories to make an impact that matters, each and every day as we strive to build a better future.
- Harry Goddard, CEO, Deloitte Ireland
The Elevate Pledge 2022 Annual Report
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Example Report Insights – Gender Diversity
The benefits of gender diversity are well established and vital to a business’s success – diverse organisations see enhanced group performance, improved decision making, access to top talent and increased employee satisfaction, to name a few.
This is particularly evident within the financial services industry (FSI), one of the biggest sectors within the Elevate workforce. Deloitte’s assessment of the share of women by role categories in FSIs in 2021 establishes a baseline from where we can measure growth or decline annually. In 2019 the proportion of women in leadership roles within financial services firms was 21.9%, this grew to 24% in 2021 and is projected to grow to 28% by 2030—a positive trend, however still below parity.
External factors, such as public policy, cultural norms and corporate social responsibility initiatives can impact gender equity progress. Legislative actions to achieve diversity quotas or government-backed diversity targets may play a role in the future, such as The Irish Corporate Governance (Gender Balance) Bill 2021, currently before the Dáil, as well as the imminent Gender Pay Gap Reporting policy. This will provide additional impetus for organisations to improve their gender parity.
Within the financial services, it was noted that for every woman added to the C-suite in an organisation, three women rise to senior leadership roles. This is known as the multiplier effect, and what is key to improving gender balance at the highest levels. Knowing it can be done, as well as seeing and experiencing diverse leadership representation, can motivate women as they progress.