Credit: freshidea/Adobe Stock Board Diversity—More Than Checking a Box: Tips for Increasing Effectiveness
Contrasting viewpoints foster increased board engagement and can help an organization stay nimble while improving board effectiveness.
October 05, 2022 at 04:51 PM
6 minute read
Women have made the most gains when it comes to board diversity, representing 46% of new directors among S&P 500 companies, compared with 26% a decade ago. Motivated by the increased focus on diversity, equity, and inclusion (DE&I), and new mandates, boards have moved quickly to bolster diversity and composition. According to the executive recruiting firm Spencer Stuart, 72% of new board members at S&P 500 companies come from underrepresented groups (i.e., women, underrepresented racial/ethnic groups and the LGBTQ+ community). The numbers tell us that market forces are aligning to support diversity in board governance. It's a business imperative and this is a great time to bring about change.
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