Retail companies in the FTSE 100 are ahead of the game when it comes to gender diversity, a new analysis has revealed.
Research from Green Park indicates that the average gender diversity score within retail is 19.9%, while the FTSE 100 average stands at 17.7%.
The sector is also ahead regarding female board representation as it averages at 28.5%, compared with 24.3% on FTSE 100 boards as a whole.
Ethnic and cultural diversity in the industry, on the other hand, is steadily improving as the proportion of retail sector board members with a non-white ethnic background has gone up from 3.4% to 4.8% since 2014.
However, this is still far from being representative of the UK population, which is 87% white and 13% non-white.
Steve Baggi, co-founder and head of retail and consumer at Green Park, said: “The retail sector has made great progress in delivering gender diversity at board level and in building a pipeline of future female leaders.
“However, urgent action needs to be taken to ensure the ethnocultural diversity of retailers’ customer base is reflected in the composition of their boards and management pipelines.
“The retail sector is facing a period of unprecedented change with major disruption being led by new market entrants and the application of new technologies.
“As retailers adapt to these opportunities and challenges they can seek to reshape their management structures to ensure they are truly representative of their diverse customer base and draw on available expertise from the widest possible talent pool.”