5 Things Companies Should Do to Make Diversity and Inclusion a Core Driver of Their Overall Business Strategy

In last week’s post we shared The top 3 reasons why Goldman Sachs is right in saying diversity in the boardroom matters for performance

In addition to the top 3 reasons, we wanted to share 5 things companies should do to make diversity and inclusion a core driver of their overall business strategy.

  1. Overhire underrepresented groups – from entry to senior levels, including the board.
  2. Focus on retention of underrepresented groups by understanding how policies may be adversely impacting inclusion goals.
  3. Measure progress annually using data and metrics.
  4. Hold senior management accountable for diversity and inclusion results and shortfalls.
  5. Celebrate success with stories and transparency.

Changes in markets and technologies have reached breakneck speeds, building and dismantling companies seemingly overnight. The companies that both survive and thrive in the future will be the ones that take advantage of every conceivable edge, including board diversity.

One more thing…in 2019, 40% of board placements were first time directors.  We may have reached a point where boards believe potential is as important as experience. That’s good news for diverse candidates and boards alike!

We’re encouraged and appreciate seeing Goldman Sachs share our long held view that diversity in the boardroom matters for performance. We are the leader in identifying, recruiting, developing, and onboarding more diverse executive talent for senior-level appointments in the C-suite and boardroom, ensuring long-term success for our corporate and nonprofit clients as well as the candidates whose careers we champion. Search is the foundation of our business and frequently marks the beginning of our relationship with our clients. Our cutting edge technology, robust database, and vast network provide a strong launching point and unparalleled experience for clients seeking diversity throughout all levels of their organization. Reach us if you would like to have a more comprehensive conversation on how we can serve you.