Board diversity is an often misunderstood strategy in the boardroom. At Cardinal Board Services, we believe that every new hire is an opportunity for diversity. Board diversity means composing the board of unique skills, backgrounds and experiences to create a more capable governance.
What Does It Take To Have Board Diversity?
To have true board diversity is to mirror the functions, customers and employees of the company. Identifying weaknesses on the board and finding candidates that fill those gaps brings diversity to the boardroom. Don’t think of board diversity as a classification of physical traits, but rather as a means to position your company for success.
The first order of business is to identify what areas in the company do we need diversity. Is it in representation of our employee base, from gender to ethnic to geography? Is it in representation of our customers by industry or by global region, etc? Is it representation of where the company is going, more sale to government, expansion into South America, etc?
The Challenge of Board Diversity
Once we understand what is needed for board diversity, finding the right candidate is the challenge. Ideally, searching for a candidate that delivers more than one aspect of what is needed for the board brings the biggest benefit to the company.
Identifying diversity candidates demands comprehensive evaluation in order to find talent whose strengths and experiences align with the culture of the company. Diverse candidates often require a strong onboarding process to help guarantee their success in being heard and maximizing their contributions.
How We Can Help
Retaining Cardinal Board Services as your board recruitment firm will deepen your pool of potential hires and result in a board member that meets the needs of your company.
Create a board that delivers innovative solutions, enhances company culture and retains better talent by diversifying your leadership. Board diversity is not a mandate to hire a woman or a minority, but a strategy that gives your governance a greater probability of success.
Contact Cardinal Board Services to discuss your strategy for diversity.
Get in touch with us today to learn how we can build you a better board.