The absence of racial or gender diversity on corporate boards is unacceptable. A diverse board will aid companies in reflecting the community’s demographics and make better decisions. It will also improve their image. It is vital that companies and federal policymakers focus efforts on creating equitable systems, and in identifying and attracting talent, and reforming the selection process in order to increase diversity in 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 goal is to identify people with a range of skills, competencies and experiences. Diverse board members bring fresh perspectives to the table and change the status of the game. They can also make more click this innovative choices that can create long-term value.
You can select candidates using a combination of factors such as education level, age and experience. For example, if your board is disproportionately composed of those with a degree in engineering, you might want to consider adding a director with backgrounds in marketing to enable the discussion to be more comprehensive.
Some companies take the step of making an official commitment to diversity. This is an excellent method of holding the top managers and the board accountable. You can also make use of your board portals to run an audit of diversity that will identify areas where you need to bolster your workforce.