Despite the fact that the number of directors who rate having more female board members as "very important" has doubled since 2012, progress remains slow. Women hold just 24% of S&P 500 board seats, up only 3 percent from 2012.
To jumpstart progress, Harvard Business Review recommends five courses of action. First, review the benefits of diversity: research shows it leads to greater innovation and decision-making. Second, one is not enough: Egon Zehnder's 2018 Global Board Diversity Tracker stares that you need at least three female directors to achieve a critical mass. Third, since female and non-white directors are less likely to be current or former CEOs, rethink criteria for directors. Fourth, be more rigorous and require a 50-50 slate. Lastly, expanding the size of the board itself provides more opportunities to infuse diverse talent.
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Full Story: You’ve Committed to Increasing Gender Diversity on Your Board. Here’s How to Make it Happen. By Paula Loop and Paul DeNicola. 18 February 2019.