Diversity and Inclusion at Ricardo

Diversity and Inclusion at Ricardo

Making Ricardo a better place to work

As a business, we strive to recruit and retain a diverse and inclusive work force providing equal opportunities for everyone, enabling our colleagues to develop their careers and ensure they meet their full potential at Ricardo.

Ensuring that we embrace inclusion, enables us to improve Ricardo as a place to work for all, and ultimately to improve our business performance.

The 30% Club and the Gender Pay Gap

Sir Terry Morgan, Chair of Ricardo Plc, and Dave Shemmans, CEO of Ricardo Plc, are proud members of The 30% Club, an organisation which aims to develop a diverse pool of talent for all businesses through the efforts of its Chair and CEO. Members of The 30% Club are committed to better gender balance at all levels of their organisations with a particular focus on improving the equality for the most senior roles in the organisation. Business leadership is key to its mission, taking the issue beyond a specialist diversity effort and into mainstream talent management. Leaders act as catalysts for top-down support of gender parity as a business imperative and enabler. 

Our membership of The 30% Club clearly demonstrates Ricardo’s commitment to reducing the Gender Pay Gap across the business. Already we have implemented many pro-active changes to minimize barriers and encourage applications and opportunities for career development for females in our traditionally male-dominated market sector

Ricardo is committed to:

  1. Ensuring there is buy-in and engagement from leadership at the highest level
  2. Ensure there is meaningful measurement/ reporting in respect of recruitment, promotion rates, employee turnover, pay/ reward and so forth
  3. Set specific and concrete goals that demonstrate the business intends to “walk the talk”
  4. Apply a gender equality lens to policies and processes around recruitment, promotion, retention, agile working and so on in order to remove inherent biases
  5. Encourage both mentoring and sponsorship which bring value to both sponsor, mentor and participant alike, and are very effective ways of identifying talent within the business women need career sponsors and access to networks of influence

What do we mean by Diversity?

For Ricardo, diversity means all the ways that we differ and it covers everyone. It refers to our visible differences such as gender, race and ethnicity, as well as differences such as disability, age, education, sexual orientation, social class, heritage and religion as well as unseen differences, varying perspectives and thought processes.

What do we mean by Inclusion?

Inclusion means valuing and celebrating others’ differences and encouraging a workplace and culture where we all can thrive.

This means all individuals are supported, respected, engaged and have a voice to assist them in developing new skills and talents.

Benefits of Diversity and Inclusion at Ricardo

Encouraging diversity brings people with different backgrounds together, creating diversity of thought, which enables the development of a wider range of ideas and solutions. Promoting diversity means we value uniqueness and encourage colleagues to feel valued. When we feel valued we are more likely to contribute, removing the feeling of being excluded or undervalued.

Providing an inclusive environment for all can only be positive, valuing all and therefore increasing morale and job satisfaction which leads to increased innovation and creativity.

4 Working Groups

In September 2017, 4 working groups were defined to assist in improving our Diversity and Inclusion Strategy focusing on, Recruitment, Flexible Working, Career Progression and Communication.

Improving our approach to Diversity & Inclusion will make Ricardo a better workplace for everybody!

Below are a few examples of initiatives we have at Ricardo:

Supporting female engineers
Mentoring
STEM Ambassadors
Ricardo engineering prize

Gender Pay Gap Report 2017

As part of the Equality Act 2010 (Gender Pay Gap Information) Regulations 2017, the Government requires organisations with 250  or more employees to report annually on the differences between average and median levels of pay for men and women. This difference is known as the ‘gender pay gap’.

Ricardo has two legal entities with 250 or more employees:

  • Ricardo UK Ltd (which includes UK employees in Automotive, Commercial Vehicles, Motorsport, Motorcycle, Defence and Off-Highway Vehicles).
  • Ricardo-AEA Ltd (trading as Ricardo Energy & Environment).

Download the report