EDI Data Survey Report

The Investment Association (IA), alongside The Thinking Ahead Institute, published an industry-wide data report on equity, diversity and inclusion (EDI) data in the UK investment management industry

The EDI Data Survey report represents the most comprehensive dataset on equity, diversity and inclusion in our industry, in the UK to date. It provides an overview of diversity data collection, including a demographic snapshot of the industry’s workforce. The report also explores how data can be used to inform EDI strategies, aiming to foster inclusivity and attract and retain diverse talent in the industry.

In navigating the globally connected investment industry, equity, diversity, and inclusion emerge as defining traits of high-quality people and culture systems. Acknowledging that complexity brings both frictions and opportunities, our EDI Data Survey provides a compass for navigation. By measuring progress and establishing benchmarks for organisations, the industry can make significant, favourable change. By representing the views of 75% of the industry, this study is the definitive guide.

Andrea Caloisi, Thinking Ahead Institute

Key findings

  • Data collection | most of the industry is collecting diversity data on two or more attributes (96% of survey respondents). Age, gender and ethnicity are the attributes with the highest response rates from employees. Firms are beginning to collect neurodiversity and socio-economic background data but response rates are low
  • Drivers | the main motivations for firms collecting diversity data are to gain a better understanding of their workforce demographics (65%), to foster a more inclusive culture (60%) and to inform their EDI initiatives (48%)
  • Barriers | firms report data privacy concerns and apathy as the main barriers to collecting diversity data from employees (76% and 47%, respectively)
  • Demographics | a snapshot of the industry against six key demographic attributes reveals a relatively young workforce and, despite inroads made in recent years, a largely male workforce with little ethnic diversity
  • Recruitment | progress has been made in recruiting women at senior levels, but typically low turnover rates have contributed to a lack of diversity
  • Underrepresented groups | efforts to recruit people from underrepresented backgrounds are generally focused below senior level
  • Gender pay gap | both the mean and median industry gender pay gap have decreased seven and six percentage points respectively over the past five years
  • Retention | while there is no one strategy or approach used by firms to identify barriers faced by underrepresented groups in securing promotion, 63% rely on employee feedback to inform retention strategies. However, nearly half of firms (48%) do not track career advancement or promotion levels across diversity characteristics
  • EDI accountability | most organisations (86%) identifying CEOs, Board directors and executive leadership, as ultimately accountable for EDI
  • EDI responsibility | the implementation of EDI strategy is the responsibility of human resource (HR) teams across the industry (79%)

Motivations for collecting diversity data

Diversity data collection rates across 9 attributes