Having a diverse board is more just than a matter of optics. Diverse board members contribute fresh insights and crucial technical skills that can improve board functions. Diversity also often comes with more cognitive processing, more exchange of information and more perceptions of conflict which can generate new ideas and foster creative solutions.
To successfully prioritize diversity at all levels — both internally and externally — leaders have an array of options, including launching company initiatives, detailing their needs to leadership consulting firms, and hiring and nurturing diverse candidates well before they are viable contenders for board membership.
It is essential that these efforts begin early — long before a board vacancy arises. By forging relationships with potential candidates as they ascend the ladder, executive leadership consultancy Egon Zehnder says boards can “make a confident evaluation when the time comes” and “make it more likely that these highly sought after candidates accept a seat.”
Full Story: Diverse Boards Propel Successful Companies -- Three Strategies To Expand Pipelines. By Jason Wingard. 21, February 2019.