It is unacceptable that there isn’t racial or gender diversity in corporate boards. A diverse board will assist companies in incorporating the community’s demographics and make better decisions. It will also improve their image. It is crucial that businesses and federal policymakers work to create equitable systems, identify and recruit talent, and restructure the selection process to improve diversity within American companies.
Many discussions on diversity of the board are centered around the need to address a skewed demographic representation of the company, but the real objective is to identify candidates with a broad range of abilities, skills and experience. Diverse board members can bring new ideas to the table, disrupt the status quo, and make more innovative decisions that drive long-term value.
Using a combination of factors such as age, education, and professional experience, you can determine what categories your board is not or over-represented in and plan your recruitment accordingly. For instance, if you find that your board is disproportionately composed of those with a degree in engineering, you may be considering adding someone with backgrounds in marketing to facilitate a more holistic discussion.
Some companies go as far as making an announcement about their commitment to diversity. This is an excellent method of holding the top managers and the board accountable. You can also conduct a diversity assessment through your board portal and highlight areas that you should strengthen your workforce.
