Board Diversity

Tuesday, January 18, 2022 2:16:30 AM

Board Diversity

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Evolution of Corporate Board Diversity

To offset these concerns, some boards are ensuring that skills and expertise, along with demographics, are front and center in their recruiting processes. It might be unconscious bias. For example, our interviewees on the boards of hi-tech start-ups and cyber security firms revealed that women, minorities, and younger board members often hold these coveted roles on boards in their firms and industries. You know you might have somebody from HR on the board. People coming from that diverse role I think really does help a board to get better results. To make diverse boards more effective, boards need to have a more egalitarian culture — one that elevates different voices, integrates contrasting insights, and welcomes conversations about diversity.

Some boards are more hierarchical in their communication orientation while others are more egalitarian. On more hierarchical boards, the CEO, Chairman, or lead independent director tends to dominate board meetings. The CEO tended to dominate the conversation. But even in hierarchical cultures, the CEO, Chairman, or lead director can help to create a more open communication environment. The CEO would pick up the phone frequently and connect us.

Whoever is leading the board also has the responsibility of ensuring that quieter board members speak up in board meetings. Interviewees who felt that their boards reflected this quality explained how all board members were able to speak openly and ask questions at meetings and, in doing so, they felt that all opinions were respected. Collegial boards are more likely to accept and integrate differences of opinion.

You know people listen. When they argue, they do it in a pretty much respectful way. Several interviewees told us that boards that value open communication are more likely to engage in conversations about diversity — even those that believe they still have a long way to go. One interviewee commented on how the board as a whole believed in the importance of diversity, but longer-term board members still struggled to understand its value.

I think we all recognize the value and we all respect the diversity and the importance of diversity. In boards like these, interviewees said discussing the issues rather that shrinking away from them was of utmost importance. Others similarly commented on the need to serve as a champion for diversity and inclusion on their boards if they wanted to keep the topic front and center. The benefits of having a socially and professionally diverse board cannot be realized without an egalitarian board culture.

You have 1 free article s left this month. You are reading your last free article for this month. The Board Diversity Action Alliance believes that corporate diversity and board diversity go hand in hand — leadership starts at the top. Signatories will accelerate change by supporting a concerted enterprise transformation approach to diversity by integrating talent, accountability and engagement. Signatories voluntarily commit to:. The Board Diversity Action Alliance is leading the focused and aligned effort to quantify, convene and amplify the work being done by building partnerships with the corporate and non-profit community to increase awareness and expand influence. Skip to content. Who We Are Despite the years of focus on diversity, there is recognition that the pace of change has been glacial.

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