Diversity & inclusion

Anyone who works within the PE/VC industry will be aware that there is a long way to go to increase the number of under-represented groups at all levels, but especially at senior levels.

The BVCA, amongst other organisations, has undertaken significant research over the years, to capture both current levels of diversity and benchmark progress against prior years, but there is still some way to go to fully understand why it is taking so long to re-dress the balance. This is particularly surprising when there is an ever-growing body of evidence to suggest that diverse groups significantly outperform less diverse peers, and the industry is always looking for ways to outperform, so where are the blocks and what is holding us back?

Practically, it can be difficult to know where to start, but here are a few simple things some of us are considering. We can be more receptive to staff needs, develop more flexible people and diversity & inclusion (D&I) policies to ensure that current and potential staff feel included and able to thrive, whatever their background or personal circumstance. This may necessitate a culture change, which can be challenging.

Recruiters and careers officers also have a significant role to play, working with us all to ensure potential job specs are more inclusive and candidate short-lists are more diverse. They can also actively promote the industry to attract candidates with broader experience, and by understanding the career ambitions of graduates and students, we can better showcase the different roles and excellent career opportunities available.

The findings and recommendations of the BVCA’s most recent research on diversity and inclusion are here.

The Excellence in ESG awards this year will be promoting GPs and portfolio companies who have made significant progress towards addressing D&I within their businesses and thought leadership, have identified some of the blocks or developed new, innovative ideas or processes with case studies to showcase progress in this area. We look forward to receiving applications on how D&I is being approached across the industry, as well as other aspects of ESG.
 

Authored by Maria Carradice
Managing Director, Portfolio – Environmental, Social and Governance, Mayfair Equity Partners,
and Judge, BVCA Excellence in ESG 2021

This article was originally published in 2021 as part of the BVCA's Excellence in ESG Awards, and some of the content may now be out of date. Please contact the BVCA if you have any queries or need further assistance.