How to Build Corporate Board Diversity

Board diversity is one of the most overlooked ways to help bring fresh perspectives to a company.  Board members play a crucial role in dictating the direction of your business. Finding the right mix of experience, creativity, and diversity can seem like a major challenge at such a high level, but board diversity will help your company better understand the needs of an increasingly diverse consumer society.

According to Spencer Stuart, a board and leadership advisory service, a mere 5% of the top 200 S&P companies are led by minorities, which still represents an increase from the past. Max Yoder, Co-founder and CEO of Lessonly, shares how his company made a concerted effort to bring gender diversity into the boardroom by recruiting a woman onto their previously all-male board. He offers some sage advice on how to choose board members that will bring more diversity to your team.

As Yoder’s article shows, increasing diversity within organizational leadership can be daunting, but the different viewpoints that new team members from diverse backgrounds bring to the table will make your company more resilient and competitive. With so many companies making diversity part of their mission, it will also show employees that you’re committed to prioritizing diversity from the top-down.

Yoder advises executives looking to build board diversity to “take time to go out of your network, and don’t stop until you find someone who is just right. Ask for help. Make a plan. Meet in person. Listen to your team. Ask more questions. And don’t rush it.”

Not sure how to bring diversity into your board? Contact us for a chat – we’ll put you in touch with one of our trusted CEO coaching partners to help guide you.