GSK has tumbled down the FT-Statista European Diversity Leaders ranking this year, after the UK drugmaker abandoned its targets for improving diversity in its leadership and suppliers.
The company has fallen from seventh place last year to 224th in the European ranking, primarily because of a drop in the diversity net promoter score, reflecting how employees perceive and promote their organisation’s commitment to diversity, equity and inclusion (DEI).
GSK was one of a host of companies that changed its approach after US President Donald Trump signed executive orders targeting government suppliers with DEI programmes, shortly after taking office in January.
Like most other drugmakers, GSK sells medicines to the US government-backed health insurance programmes Medicaid and Medicare. More than half of its revenues are in the US and the company recently pledged $30bn of investment in manufacturing and research and development facilities in the country over the next five years.
Catherine Howarth, chief executive of ShareAction, a charity that aims to improve corporate behaviour on environmental, social and governance issues, says the fall down the ranking is “quite stunning” for a company previously perceived as a leader in this area. She adds that even if the company does not think it is changing its policy dramatically, it is in the “court of employee opinion”, which will have an impact on the retention and recruitment of diverse talent.
