The lack of racial and gender diversity on corporate boards is unacceptable. A diverse board will help companies better reflect the community’s demographics and make better decisions. It will also improve their image. It is vital that companies and federal policymakers focus efforts on creating equitable systems, and in identifying and attracting talented individuals, and reforming the process of selection to increase diversity among American corporations.
A lot of discussions on diversity for boards revolve around the need to tackle a lack of representation of the demographics of the company, however the goal should be to find candidates with a variety of skills, capabilities and knowledge. Board members with diverse backgrounds can bring new approaches to the table, challenge the status quo and take more creative decisions that create long-term value.
Utilizing a mix of factors like age, education level, and professional experiences, you can figure out which areas your board is not or over-represented in and target hiring accordingly. For instance, if the board is comprised of people with a degree in engineering, you may think about adding directors with an education in click here for more info marketing to enable an broader discussion.
Some companies go so that they make public statements about their commitment to diversity. This is a great way to hold the board and management to account. You can also run an assessment of your diversity on your board portal that will identify the areas where you should bolster your workforce.
