The absence of racial as well as gender diversity on corporate boards is unacceptable. A diverse board can help companies more accurately reflect the demographics of their communities, make better choices from a variety of perspectives and experiences, and boost their standing. It is critical that companies and federal policymakers work to build equitable systems that identify and recruit talent, and reform the selection process to increase diversity in American corporations.
Many discussions on diversity of the board revolve around the need tackle a lack of representation of the demographics of the company, but the primary goal is to find people with a range of abilities, skills and knowledge. Board members with diverse backgrounds can bring new approaches to the table, disrupt the status quo, and make more innovative decisions that drive long-term value.
You can choose to recruit according to a mix of factors like education, age and professional experience. For instance, if your board is comprised of How Data Room Providers are Shaping the Business Landscape people who have a degree in engineering, you may be interested in adding someone with an education in marketing to facilitate an broader discussion.
Some companies even take the step of making an open commitment to diversity. This is a great way to hold the senior management and board members accountable. You can also conduct an assessment of diversity via your board portal and highlight areas in which you need to increase the diversity of your workforce.
