The lack of racial and gender diversity on corporate boards is unacceptable. A diverse board will help companies more accurately reflect the population metrics of their communities, make better choices with a wide range of perspectives and experiences, and improve their reputation. It is imperative that corporations and federal policymakers redouble their efforts to create fair systems that identify and recruit talent, and reform the selection process to improve diversity in American companies.
The focus of many board diversity discussions is the need to correct a biased representation of the company’s demographics. However, the ultimate board.international objective should be to identify candidates with a diverse range of abilities, skills and experience. Diverse board members bring fresh perspectives to the table and can alter the status that is in place. They can also make more creative choices that can create long-term value.
Through a combination of variables like age, education, and professional experiences, you can figure out which categories your board is under- or over-represented in and plan your recruitment in line with these categories. If your board is disproportionately composed of individuals with degrees in engineering, as an example it is possible to include a director who has prior experience in marketing to facilitate a more comprehensive discussion.
Some companies even go as far as making an announcement about their commitment to diversity. This is an excellent method of holding the board and senior managers accountable. You can also run an assessment of diversity through your board portal that will highlight the areas in which you need to increase the diversity of your workforce.
