Learn how to increase diversity in your board and gain a strategic advantage for your business. Follow these tips and strategies to find, retain, and develop diverse board members.

One thing I’ve found helpful when seeking to understand the current board composition and identifying where we’d like to be at, is to build a board skills and characteristics matrix. This gives the entire board a view of the current situation on one page. Educating the board on the relationship between leadership, representation and diversity is also important. This can include speaking to community that they represent, the community at large and many of the other areas mentioned above.

How can you increase diversity in your board?

Diversity in your board is not only a matter of social responsibility, but also a strategic advantage for your business. A diverse board can bring different perspectives, experiences, and insights that can help you navigate complex challenges, foster innovation, and enhance your reputation. However, achieving diversity in your board is not easy, and it requires intentional and deliberate actions. Here are some tips to help you increase diversity in your board.

1 Assess your current situation

Before you can set goals and implement changes, you need to understand where you stand in terms of board diversity. You can use various criteria to measure diversity, such as gender, race, ethnicity, age, disability, sexual orientation, education, and skills. You can also compare your board composition with your industry peers, your customers, your employees, and your stakeholders. By assessing your current situation, you can identify your strengths and weaknesses, and prioritize the areas that need improvement.

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Jamal Hakim

Key Note Speaker | Commercial Strategist | Engaging Leader | Board Director | Entrepreneur | Solutions Focussed Executive | Fmr City of Melbourne Councillor
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One thing I’ve found helpful when seeking to understand the current board composition and identifying where we’d like to be at, is to build a board skills and characteristics matrix. This gives the entire board a view of the current situation on one page. Educating the board on the relationship between leadership, representation and diversity is also important. This can include speaking to community that they represent, the community at large and many of the other areas mentioned above.

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2 Define your objectives and criteria

Once you have a clear picture of your current board diversity, you need to define your objectives and criteria for increasing it. You should align your objectives with your business strategy, vision, and values, and communicate them clearly to your board and other stakeholders. You should also establish clear and transparent criteria for selecting and evaluating board members, based on their qualifications, competencies, and contributions. You should avoid tokenism and quotas, and focus on finding the best candidates who can add value to your board.

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3 Expand your talent pool and networks

One of the main challenges of increasing board diversity is finding qualified and diverse candidates. To overcome this challenge, you need to expand your talent pool and networks, and reach out to potential board members who may not be on your radar. You can use various sources and methods to find diverse candidates, such as professional associations, executive search firms, mentoring programs, referrals, and social media. You should also cultivate relationships with potential board members, and invite them to attend board meetings, events, and trainings.

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Melanie Chinchilla

Founder & Clinical Psychologist | President of California Psychological Association
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When expanding your network, move beyond surface-level interactions and cultivate meaningful relationships. Prioritize genuine connection and relationship-building. People often want to work with others who want to know and work with them. Beyond obtaining and exchanging information or credentials, invest in the relationships you form. Be more than transactional. Authentic connections foster trust and create an environment where individuals from various backgrounds feel valued and understood. Building these genuine relationships is not only an investment in the present but a strategic move for the future, as it lays the foundation for a collaborative, diverse, and dynamic leadership that can effectively navigate complex landscapes.

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4 Provide support and development

Increasing board diversity is not only about recruiting new members, but also about retaining and developing them. You should provide support and development opportunities for your diverse board members, to help them integrate, perform, and grow. You can offer them orientation, coaching, mentoring, feedback, and recognition. You should also create a culture of inclusion and respect, where diverse board members feel valued, heard, and empowered. You should encourage open dialogue, constructive debate, and collaboration among board members.

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5 Monitor and evaluate your progress

Finally, you should monitor and evaluate your progress in increasing board diversity, and adjust your actions accordingly. You should set measurable indicators and targets, and track them regularly. You should also solicit feedback from your board members, stakeholders, and external experts, and use it to improve your practices and policies. You should celebrate your achievements, and share your best practices and lessons learned with others. You should also be prepared to face challenges and setbacks, and learn from them.

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Melanie Chinchilla

Founder & Clinical Psychologist | President of California Psychological Association
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Resistance to change in established structures may impede the integration of diverse perspectives. Overcoming unconscious biases in recruitment is essential, as preconceptions about leadership may limit candidates from underrepresented backgrounds. Effective communication and collaboration among board members require intentional efforts to address potential misunderstandings and differences in communication styles. Striking a balance between cohesion and embracing diverse viewpoints requires a commitment to inclusivity at cultural and operational levels. Navigating these challenges demands an intentional and proactive approach to fostering an inclusive board culture.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Viktor Tomov

Highly curious, driven and inquisitive. Fascinated by economics and finance and what they can do.
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To be honest if the diversity aim is anything, but diversity of backgrounds and ideas, it should not be an aim. Boards are meant to supervise and participate in the forging of strategy. Therefore, any individual characteristics or personal circumstances, which cannot be linked to superior performance, should/must not affect selection and position consideration. However, businesses should take the necessary steps to avoid personal bias during each stage of member selection.

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How can you increase diversity in your board?

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2

3

4

5

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1 Assess your current situation

2 Define your objectives and criteria

3 Expand your talent pool and networks

4 Provide support and development

5 Monitor and evaluate your progress

6 Here’s what else to consider

Business Management

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How can you increase diversity in your board?

1

2

3

4

5

6

1 Assess your current situation

2 Define your objectives and criteria

3 Expand your talent pool and networks

4 Provide support and development

5 Monitor and evaluate your progress

6 Here’s what else to consider

Business Management

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