The absence of racial or gender diversity on corporate boards is inexcusable. A diverse board will help companies more accurately reflect the demographics of their communities, make better decisions from a variety investigate this site of perspectives and experiences and boost their standing. It is crucial that businesses and federal policymakers focus efforts on building fair systems, identifying and attracting talent, and improving the selection process in order to increase diversity in American corporations.
The primary focus of most board diversity discussions is the necessity of correcting a skewed representation of the company’s demographics. However, the real objective should be to identify candidates with a diverse range of abilities, skills and experiences. Board members with diverse backgrounds can bring new perspectives to the table, challenge the status quo and take more innovative decisions that generate long-term value.
Through a combination of variables, such as education, age, and professional experience, you can identify what categories your board is under- or over-represented and target recruitment in line with these categories. If your board is predominantly comprised of people with degrees in engineering, for instance it is possible to include a director who has some experience in marketing to facilitate a deeper discussion.
Some companies go as far as making a public commitment on diversity. This is an excellent way to hold the senior management and board members accountable. You can also use your board portal to conduct an audit on diversity that will highlight areas in which you must increase the diversity of your workforce.
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