Corporate Board Diversity

It is unacceptable that there isn’t any gender or racial diversity in corporate boards. A diverse board can help companies more accurately reflect the population metrics of their communities, make better choices that are based on a wide range of perspectives and experiences, and boost their reputation. It is critical that companies and federal policymakers work to create fair systems that identify and https://board.international/ recruit talent, and restructure the selection process to increase diversity within American corporations.

The focus of many discussions on diversity of the board is the need to correct a biased representation of the company’s demographics. But the primary goal should be to find people with a broad range of skills, abilities, and experiences. Board members with diverse backgrounds bring fresh perspectives to the table and disrupt the status quo. They also make more innovative decisions that will create value over the long term.

By combining a variety of factors like age, education level, and professional experience, you will be able to determine what categories your board is not or over-represented in, and then target the recruitment process accordingly. For example, if your board is made up of people with a degree in engineering, you might be considering adding an executive with a background in marketing to enable an broader discussion.

Some companies make an announcement about their commitment to diversity. This is a great way to hold the top managers and the board accountable. You can also conduct an assessment of your diversity on your board portal that will identify the areas you need to strengthen your workforce.