Why it’s time to close the Ethnicity Pay Gap in financial services – episode 24

January 4, 2023

Identifying that the ethnicity pay gap exists in financial services is one thing – but doing something about it is a wholly different matter.

Today, as we kick off our 2023 IFA Talk podcast schedule, we’re delighted to welcome two guests who are certainly walking the walk as well as talking the talk when it comes to closing the ethnicity pay gap.

Tune in to hear Sue and Bex’ powerful conversation with Kohinoor Choudhury, Senior Campaigns Officer of diversity, equity and inclusion at ShareAction, and Lutfur Ali, Senior Policy Advisor Equality, Diversity, Inclusion and Transformation at the Chartered Institute for Personnel and Development (CIPD).

What’s happening?

Since the summer of 2022, ShareAction, the responsible investment NGO, has been running a laudable programme to lift the standard for Ethnicity Pay Gap reporting in FTSE100 companies. In this first year of the programme, they’ve been targeting financial services companies, before expanding to other sectors, to raise awareness of and help address racial inequality across workforces. ShareAction has been using the CIPD’s guidelines on ethnicity pay gap reporting in their advocacy, so we were delighted to be able to bring you both perspectives on this important subject in today’s podcast.

In our conversation we talk about why the CIPD is calling for mandatory ethnicity pay gap reporting as well as getting the details of ShareAction’s powerful campaign, including its goals and some of the barriers they’ve faced to date.