Award

Research Services - Overcoming the barriers to senior representation and leadership by black and minority ethnic people in FTSE 100 and FTSE 250 companies

THE FINANCIAL REPORTING COUNCIL LIMITED

This public procurement record has 2 releases in its history.

Award

29 Nov 2021 at 11:54

Award Notice
Tender

27 Sep 2021 at 15:18

Tender Notice
Summary of the contracting process

The Financial Reporting Council (FRC) in London has awarded a contract for research services aimed at addressing barriers to senior representation and leadership for black and minority ethnic individuals in FTSE 100 and FTSE 250 companies. The tender, titled "Research Services - Overcoming the barriers to senior representation and leadership," was published on 27th September 2021 with a deadline for submissions on 19th October 2021. The successful bidder is Cranfield University, and the contract, valued at £40,000, runs from 1st November 2021 to 1st March 2022. This procurement was conducted via an open procedure, allowing a broad range of suppliers to participate.

This contract presents a significant opportunity for businesses specialising in research and development consultancy services, particularly those with expertise in diversity and inclusion initiatives. Companies that focus on organisational behaviour, workforce analytics, and equity in corporate environments would be well-positioned to leverage this contract's insights to grow their own offerings. Engaging in this kind of research not only supports the advancement of diversity within senior leadership but could also enhance a firm's capabilities and reputation in fostering inclusive workplace practices.

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Notice Information

Notice Title

Research Services - Overcoming the barriers to senior representation and leadership by black and minority ethnic people in FTSE 100 and FTSE 250 companies

Notice Description

***THIS OPPORTUNITY IS CLOSED. THIS IS A CONTRACT AWARD NOTICE*** The Financial Reporting Council (FRC) regulates auditors, accountants and actuaries and sets the UK's Corporate Governance and Stewardship Codes. We seek to promote transparency and integrity in business; our work is aimed at investors and others who rely on company accounts, audit and high-quality risk management. As the Competent Authority for audit in the UK, the FRC sets auditing and ethical standards and monitors and enforces audit quality. The FRC is encouraging listed companies to increase the level of diversity at senior leadership levels. The market environment in which FTSE companies operate is increasingly diverse as a result of globalisation, increased participation in the workforce, and changing demographics. Companies need to consider how diversity and inclusion are relevant to the specific circumstances of their business, the markets they operate in, the workforce upon which they rely and the customers and communities they serve. In addition to its own monitoring of corporate governance and reporting, the FRC is interested in gathering evidence specifically on the challenges and opportunities that black and minority ethnic individuals may experience in progressing to the Boards of FTSE 100 and FTSE 250 companies, Executive Committee roles (the pipeline to Board positions), and the direct reports of members of the Executive Committee (also part of the pipeline). One of the principles of good governance is that Boards should be diverse in their composition. In the context of corporate governance, diversity is a broad concept, encompassing diversity of skills, experience, social background, personal strengths and mindset, as well as those protected characteristics included in the Equality Act 2010. This research will enable the FRC to better understand the following, with respect to companies in the FTSE 100 and FTSE 250 (with some separate analysis for each group): 1. What are the barriers to black and minority ethnic people progressing to senior leadership levels? If so, are there consistent themes to those barriers? 2. Is there established best practice for increasing the ethnic diversity of FTSE boards? How effective is that best practice in terms of outcomes and black and minority ethnic people's real experiences in FTSE companies? 3. Does that best practice extend to ensuring a sustainable pipeline of ethnically diverse talent with the skills and knowledge, and presence in those "feeder roles", acknowledged as being desirable to successfully attain Executive and Board positions? 4. Can a set of good practices/procedures be defined, or refined, that supports the progress of black and minority ethnic people to senior leadership levels, and which might be applicable to the wider business community? Additional information: THIS OPPORTUNITY IS CLOSED. THIS IS A CONTRACT AWARD NOTICE.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-4eefa7b6-03d7-4449-a625-0d21aac27b68
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/12afae6a-92b9-46e0-9049-ebc930e8e197
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure (below threshold)
Tender Suitability
SME, VCSE
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

73 - Research and development services and related consultancy services

CPV Codes

73200000 - Research and development consultancy services

Notice Value(s)

Tender Value
£40,000 Under £100K
Lots Value
Not specified
Awards Value
£40,000 Under £100K
Contracts Value
Not specified

Notice Dates

Publication Date
29 Nov 20214 years ago
Submission Deadline
19 Oct 2021Expired
Future Notice Date
Not specified
Award Date
22 Nov 20214 years ago
Contract Period
22 Nov 2021 - 1 Mar 2022 1-6 months
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Not Specified
Awards Status
Active
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
THE FINANCIAL REPORTING COUNCIL LIMITED
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
LONDON
Postcode
EC2Y 5AS
Post Town
Central London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI3 Inner London - West
Small Region (ITL 3)
TLI35 Westminster and City of London
Delivery Location
Not specified
Local Authority
City of London
Electoral Ward
Bassishaw
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
1
Supplier Name

CRANFIELD UNIVERSITY

Further Information

Notice URLs

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts. 

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