Honordex is a comprehensive digital platform and evaluation tool developed by Equality Group that analyses companies on their Equality, Diversity and Inclusion (EDI) performance based on publicly available data. It is based on academic research and industry expertise.
- Explicit EDI Support
- Inclusive Team
- Working Conditions
- Actions and Data
- Additional Public Information
- Portfolio EDI (applies to some sectors)
Honordex helps your company reconcile your internal EDI work and the external perception of it. The external impact of your EDI work is essential to attract and retain the best talent and connecting to all your key stakeholders and suppliers.
Honordex helps funds reconcile their internal EDI work and the external perception of it. The external impact of your EDI work is essential to attract and retain the best talent and connecting to all your key stakeholders including LPs, partners and suppliers.
Honordex can also help your portfolio companies develop their EDI journey. It can be part of your due diligence and a solution tool to help companies improve key EDI metrics.
Honordex is a living, interactive platform, allowing users to:
- Obtain clear scores for all the companies/organisations evaluated
- View specific areas of EDI strength and weakness
- Easily compare companies to each other
- Easily track a company’s / organisation's performance across time.
This innovation came from a decade of consulting with the investment management industry to understand where funds were struggling with EDI. A 2021 report, conducted by the British Venture Capital Association and Level 20, found that across 186 PE and VC firms based in the UK and Europe only 20% of their investment team professionals were women. One in eight firms (12%) had no women at all in their investment teams. Black people were also hugely underrepresented across the sector, with just 3% identifying as Black. This is problematic as research has shown that more diverse investment teams invest in more diverse founding teams, generate better returns for investors, create more innovation, and foster better workplace culture and retention.
Moving beyond good intentions toward genuine improvements in EDI requires transparency and accountability. This is what Honordex provides: reliable data on EDI, expertly analysed, and clearly presented. After two years of measurement and publication, it is a leading industry EDI benchmark with annual awards for the leading performers. Since its introduction, we have seen a 4.8% improvement across 42 EDI categories measured between 2021 and 2022. We have also seen EDI scores across the top 10 funds rise by 9.4%.
The Honordex impact reflects Peter Drucker’s famous insight: “what gets measured gets improved”.
If your company is not currently part of the index you can register for it to be included via this link.
2023 - 2024 rescoring deadlines:
Investment Management: before 31 January
Professional Services: before 30 May
Higher Education: before 30 September
We know that there is EDI progress to be made in every industry and in every country.
Younger employees in Gen Z (born between 1997 and 2012) have a greater interest in human rights, race and ethnicity issues, LGBTQ+ equality, and feminism than any of their predecessors. This generation is also more ethnically diverse than other generations. Almost half of all Gen Z people belong to a minority group and it’s only natural that they want to see that diversity reflected in the institutions they attend, the employers they work for and the brands they support.
Honordex allows us the insight to measure and monitor companies across sectors according to their EDI maturity. Greater levels of transparency and accountability are desperately needed in the EDI space. There is currently far too much diversity washing and not enough meaningful action - this is what we care about. With Honordex companies will be able to see their score and make decisions accordingly to improve their EDI performance.
Endorsed by these companies:
Partnering with Equilibrium, which develops Environmental, Social, and Governance (ESG) management automation software to enable enterprises to improve their ESG performance, reporting and benchmarking through data and AI.
Partnership with Diversity VC, a non-profit partnership made up of interested individuals working in venture capital, who seek to increase the diversity of thought in the venture industry.
Equality Group has been measuring the progress of the Private Equity and Venture Capital industry's approach to Inclusivity. They have recently published their 2022 index which provides a year-on-year analysis of 282 PE and VC organisations, scoring their EDI performance on publicly available data. It is designed to challenge PE and VC firms to be more transparent and create tangible positive changes.