Corporate Board Diversity

The absence of racial as well as gender diversity on corporate boards is inexcusable. A diverse board will help companies more accurately reflect the population metrics of their communities, make better decisions with a wide range of experiences and perspectives, and improve their reputation. It is imperative that corporations and federal policymakers redouble their efforts to create equitable systems to identify and attract talents, and improve the selection process to increase diversity within American corporations.

Many discussions about diversity on boards are centered around the need to deal with a diverse demographic representation of the company, but the primary goal is to find candidates with a broad range of skills, competencies and knowledge. Diverse board members bring fresh perspectives to the table and can alter the status quo. They can also make more innovative decisions that create long-term value.

By combining a variety of factors such as education, age, and professional experience, you can determine what categories your board is under- or over-represented in and plan your the recruitment process accordingly. For instance, if you find that your board is composed largely of people with a degree in engineering, you might think about adding someone with backgrounds in marketing to help facilitate a more holistic discussion.

Some companies go as far as making an open commitment to diversity. This is an excellent way to hold the board and senior managers accountable. You can also make use of your board portals to run an audit of diversity that will reveal areas where you should increase the diversity of your workforce.

https://board.international/how-to-increase-corporate-board-diversity/