It is unacceptable that there is no racial or gender diversity in corporate boards. A diverse board can aid companies in reflecting the demographics of their communities and make better decisions. It can also improve their image. It is essential that companies as well as federal policymakers hone their efforts on building fair systems, and in identifying and attracting talents, and rethinking the selection process to increase diversity in American corporations.
Many discussions on diversity of the board are centered around the need to deal with a diverse demographic representation of the company, however the main goal should be to identify candidates with a wide array of abilities, skills and knowledge. Board members with diverse backgrounds bring fresh perspectives to the table and disrupt the status quo. They also make more creative decisions which drive long-term value.
By combining a variety of factors, such as education, age, and professional experience, you www.board.international/the-top-virtual-data-rooms/ can identify which categories your board is not or over-represented in and target recruitment accordingly. If your board is predominantly made up of people with degrees in engineering, for instance you might want to add a director who has an experience in marketing to allow for a more thorough discussion.
Some companies go as that they declare an open commitment to diversity, which is an excellent way of holding the board and management to account. You can also make use of your board portals to run an audit of diversity, which will reveal areas where you need to bolster your workforce.
