Most leaders now acknowledge how diversity enhances business performance, fosters team innovation, improves the bottom line, and increases talent recruitment and retention. Research shows that diverse teams perform more effectively, and boards are no exception. Adding variety to a board’s viewpoints and skills facilitates navigation of complex questions and protects businesses from any number of risks.Yet, despite the importance of boardroom diversity, most reports on diversity focus only on gender representation. While the underrepresentation of women in boardrooms remains a concern globally, other important diversity characteristics – such as race, ethnicity, LGBTQ+ representation, director tenure, age, skill sets and nationality – have been paid far less attention in global boardroom research. Diligent Institute’s recent Board Diversity Gaps: 2022 Modern Leadership Report, conducted in partnership with two dozen diversity-focused organizations worldwide, is the first comprehensive publication of global boardroom diversity data and highlights key areas that warrant greater attention by boards.
Company digest commentary by Dottie Schindlinger, Priotise Board Diversity to Enhance Business Management