It is inexcusable that there isn’t any gender or racial diversity in corporate boards. A diverse board can aid companies in reflecting the community’s demographics and make better decisions. It can also improve their image. It is imperative that corporations as well as federal policymakers concentrate efforts to create fair systems to identify and attract talent, and restructure the selection process to improve diversity in American companies.
Many board diversity discussions revolve around the need tackle a lack of representation of the demographics of the company, however the real objective is to find people with a range of abilities, skills and knowledge. Board members with diverse backgrounds can bring new ways of thinking to the table, challenge the status quo, and make more creative decisions that create long-term value.
By www.board.international/how-to-encouraging-an-effective-advisory-board/ combining a variety of factors, such as age, education, and professional experience, you can identify which areas your board is not or over-represented and target recruitment in line with these categories. For instance, if your board is disproportionately composed of people with a degree in engineering, you might be considering adding directors with an education in marketing, to allow for an broader discussion.
Some companies go so far as to make public statements about their commitment to diversity, which is a great way to hold the board and management to account. You can also use your board portal to run an audit of diversity that will highlight areas in which you need to bolster your workforce.