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Date
05 December 2016

Board Governance, Diversity and Equality

In this Mishcon Thinks Film, Employment Partner Jennifer Millins discusses the importance of Boards engaging with issues such as diversity and equality – considering their own diversity and leading by example. She also considers why boards are now obliged to take notice of the gender pay gap.

Transcript

Mishcon de Reya

Mischon Thinks:

Board Governance:  Diversity and Equality

Jennifer Millins
Partner, Employment, Mischon de Reya

How important is it for Boards to engage on issues like diversity and equality?

Jennifer Millins
Partner, Employment, Mischon de Reya

I think it is really important.  I think it’s important for two reasons.  Firstly because Boards need to look at their own diversity and their own makeup, but also because they will then lead by example and the hope is that the diversity at Board level will create a much more diverse workforce ultimately.  And in terms of getting a pipeline of diverse talent through a business and up through the sort of senior management towards an Executive Board position, that’s still a real challenge for businesses.

And going on from that the issue of gender pay, equal pay.  Is that now something that Boards are obliged to take notice of?

Jennifer Millins
Partner, Employment, Mischon de Reya

Yeah absolutely.  The Equal Pay Act is many years old now and it’s done quite a lot to police inequality in terms of pay, but the Government is doing more now and has introduced gender pay reporting obligations for all employers with more than two hundred and fifty employees.  That is going to be a big change for the employers it’s coming in next year.  Businesses need to start looking at it now and Boards need to really start thinking about what their gender pay statistics are going to look like next year when they have to publish them.

Jennifer Millins, thank you.

Jennifer Millins
Partner, Employment, Mischon de Reya

Thank you very much.