Experts Discuss Embracing Diversity in Boardrooms

As the Black Lives Matter movement gains traction and calls for diversity in businesses increases across the country, many organizations are setting diversity, equality, and inclusion goals. But even as companies seek a more inclusive workplace and outreach, diversity is still continually lacking within boardrooms.

A diverse board is important for companies to make real changes and offer the proper support to those underrepresented groups. There are a number of ways for organizations to create this diversity and embrace it within their boardrooms. Here are three ways to diversify your boardroom, and how potential board members can get their name out there.

Companies Must Get Creative When Finding Prospective Board Members

It’s important for corporations to understand that times have changed, and the old recruiting tactics for boardroom members may not be as effective today. In fact, many candidates may feel less qualified or hesitant to add their names to search firms because they’re discouraged.

“In terms of … what boards need to do in order to find the candidates, it's really going beyond the traditional networks that have populated the boardrooms of the past,” explained Peter Gleason, CEO of the National Association of Corporate Directors (NACD). “[We want] to partner with companies to help identify those folks who have the talent, have the experience, and just may not have been in that profile that gets them recognized for board searches.”Search firms are still at the forefront of finding suitable board members. It’s important to know how to reach the correct audience on both ends, said Cynthia Jamison, chairman of the board at Tractor Supply Company and chair of Nominating and Governance Committee at Big Lots.

“There [are] really huge search firms and there's a lot of … specifically niche firms that look to place diverse candidates and are being much more creative in how they're reaching out to find those candidates,” said Jamison.

For candidates looking to be listed on these search firms, networking and persistence in making your name known is key, continued Jamison.

Leaders Can Help Potential Board Members by Connecting Them With Mentorships

Understanding how to become a successful board member is best learned through others who are already there, experts said.

“Seek out a mentor, seek out … people [who] are a little older, that are maybe towards aging out of being in the boardroom,” said Byron Loflin, global head of board engagement at Nasdaq. “They gain new excitement about mentoring someone into the next generation of board members.”

Jamison agreed, noting that board leaders must make new or inexperienced members feel welcome in their role.

“It’s particularly critical for the leadership of boards when they decide to take on someone who is on their first board and who may be younger or had less experience, that we make it a very welcoming environment,” Jamison said. “It’s a slow build. We want to make sure that we're taking advantage of that time in between meetings, to make them feel wanted and to help them continue to build their understanding of the business and their understanding of their role.”

Businesses Should Narrow Down on Qualities of Candidates Rather Than Meet Quotas

While it’s important to meet quotas or goals and milestones within a corporation, it’s even more important to measure the quality of the candidate who’s coming through your boardroom.

“[It] comes down to doing your homework,” explained Gleason. “[You are] interviewing them as much as [they are] interviewing you … You’ve got to ask them why they selected you. You’ll learn a lot about the board, the leadership of the board, and the company in that interview process.”

“I would encourage anyone who wants to sit on a board to think about what you bring, not just … as a person in terms of your race or your gender, but what you bring to a board room, to a board conversation that will help that company and how you fit into that puzzle,” added Jamison.