More than one in four firms do not have a diversity strategy, according to ‘The Diversity and Business Performance’ report, published by the London-based member network, Corporate Research Forum.

The report also reveals that over half do not have specific targets across all their businesses and one in three HR directors don’t think senior leaders in their organisations ‘visibly own’ diversity.

Co-author and US diversity expert, Dr Wanda Wallace, says: “We have been at this subject for quite a while but we’re not seeing enough traction. The lens is back on diversity again.”

She adds: “Diversity is where significant investments are being made. It has become the most pressing and widely addressed business issue. The key action for organisations is to develop an inclusive culture, and also to encourage inclusivity among managers.”