It is inexcusable that there isn’t gender or race diversity in corporate boards. A diverse board can help companies better reflect the demographics of their communities, make better decisions with a wide range of experiences and perspectives, and enhance their image. It is crucial that businesses and federal policymakers focus efforts to create systems that are equitable to identify and attract talent, and reform the selection process to increase diversity within American businesses.
Many discussions on diversity of the board revolve around the need tackle a lack of representation of the demographics of the business, but the goal should be to identify people with a range of skills, capabilities and experience. Board members with diverse backgrounds bring fresh perspectives to the table and can change the status established. They can also make more innovative choices that can create long-term value.
Using a combination of factors like age, education level, and professional experience, you can identify what categories your board is under- or over-represented in and target hiring accordingly. If your board is heavily comprised of people with degrees in engineering, for instance it may be beneficial to include the director with prior experience in marketing to facilitate a more comprehensive discussion.
Some companies even go as far as making an open commitment to diversity. This is an excellent way to hold the senior management and board members accountable. You can also conduct an assessment of diversity through your board portal, which will highlight the areas that you should strengthen your workforce.
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