Insolvency Service and R3 support Inclusion Week 2021

R3 and the Insolvency Service are proud to be part of the Diversity and Inclusion Steering Group for the insolvency profession which is meeting this week.

Inclusion Week 2021 is a great reminder of how important it is that the insolvency and restructuring profession be open and reflective of the wider community.

The Steering Group will be considering the outcome of the recent survey of R3 members, which provides a valuable baseline to understand the make-up of the profession.

Initial analysis shows that: only 30% of partners are female; less than 10% of the profession comes from black or other minority ethnic groups; and of those in the profession working part-time, almost 70% are female.

While there’s still more to consider, these findings give the Steering Group some helpful indicators of the areas to look at more closely as part of its objective to identify the barriers to progress within the profession.

Caroline Sumner, R3 Chief Executive Officer, said:

One of the key aspects of Inclusion Week is about bringing people together to share best practice and R3 has a key role to play here as the trade body for the profession.

In the coming weeks we’ll be launching a new online resource for R3 members which will provide key examples of best practice guidance to help them to make a positive difference to diversity and inclusion within their own firms.

Angela Crossley, Director, Strategy, Policy and Analysis for the Insolvency Service said:

During Inclusion Week, the Steering Group will be taking the opportunity to continue our productive and insightful conversations into how we can improve inclusion, while breaking down barriers for those who want to join the insolvency profession.

As founding members of the group with R3, we are proud to be a part of this exciting project, developing new initiatives to ensure that everyone who enters the insolvency profession has a thoroughly rewarding experience, whatever their background.