In today’s globally inter-connected world, companies are finding that having a diverse board of directors is as critical to business strategy as revenue and productivity goals. It’s not just a gesture–it’s smart business. But embracing diversity means more than meeting a quota or hanging a plaque promoting diversity values in the halls of corporate headquarters. Diversity must be integrated throughout the organization from the ground up–starting with the hiring process and employee orientation to employee retention and customer and vendor relations.
We now think of diversity as stretching beyond the traditional notions of gender, age, nationality, and race to include a broader range of thoughts, perspectives, and competencies. And nominating committees are examining the diversity of their boards with a more critical eye: What are existing members’ backgrounds and skills and how do they enhance the value of the company? What skill areas are lacking that might be met by new members? Would a more diverse group enhance the company’s performance?
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