Egon Zehnder
Search
Select region
Close filter
Diversity, Equity & Inclusion

Goodbye to Groupthink

Goodbye to groupthink

Diversified perspectives make for better solutions

The issue of board diversity – or the lack of it – is commanding widespread attention in the media, from policymakers, and amongst business leaders. Despite recent improvements, most corporate boards around the world remain homogenous to a high degree: their members are typically drawn from the company’s home country, have similar career backgrounds, and are overwhelmingly male. Board diversity is much more than simply a question of fairness. There is considerable evidence that overly homogenous boards can find themselves trapped in groupthink, missing out on fresh insights and ideas – and that a lack of board diversity can therefore impact negatively on company performance.

What is to be done? In our experience, the greatest barrier to strengthening board diversity is a search and selection approach that is too narrowly focused on candidates with previous board experience – and insufficiently bold and systematic in seeking out excellent candidates from a wider pool. Even the quotas now in place in many countries will not necessarily break through this barrier; countries with mandatory percentages of female board membership typically see a limited pool of senior women holding multiple directorships.

In this article we show how companies can widen their sights to identify outstanding board candidates who are currently below the radar, bringing diversity of perspective where it is most relevant to corporate strategy, operations, and markets. Board diversity can and should be transformed from a thorny problem into a solution that unlocks competitive advantage.

Read full article Goodbye to groupthink in THE FOCUS edition on “Diversity and Inclusion”.

Topics Related to this Article

Related content

Houston HR Leaders Share Tactics and Strategies During Covid-19 Crisis

Houston HR Leaders Share Tactics and Strategies During Covid-19 Crisis

Human Resources

On Tuesday March 24th, our Houston office hosted 20 senior HR leaders to discuss their insights on managing business continuity and leading their organizations… Read more

The Return: How Leadership is Transforming

The Return: How Leadership is Transforming

Leadership Solutions

How leadership has changed from the crisis—and how it hasn't. Read more

Recruiting A New Class of Exceptional Managers

Recruiting A New Class of Exceptional Managers

Communications and Connectivity

Even as economies are battered by COVID-19, telecommunications are booming, offering a critical lifeline for an anxious world on lockdown. Read more

Changing language

Close icon

You are switching to an alternate language version of the Egon Zehnder website. The page you are currently on does not have a translated version. If you continue, you will be taken to the alternate language home page.

Continue to the website

Back to top