Board Diversity is an objective of every association to be more inclusive, stay relevant and prepare for the future. Achieving the goals of board diversity requires time and effort. It requires a willingness to look at the way your association is governed and who sits in the boardroom to see how the process could be improved and make decisions that impact the future of the organization.

The diversity of board members with knowledge and experience that supports an optimistic future can help the board make better decisions which improves company performance and serves everyone involved in the business — employees, shareholders, suppliers and communities. Diversity encourages innovative ways of solving problems and thinking, creates alternatives and creates value.

When we bring in women to boardrooms for example, this gives us insight into the culture and preferences of women customers. The added perspective helps the board make decisions that enhance the quality of products and services offered and help strengthen relationships with consumers. This is why a properly thought-out diversity strategy is vital for the boardroom.

Many academics have suggested that improving the composition of the board’s demographics will broaden the knowledge base of the board, by providing information that might otherwise be a mystery in the event that the board were homogenous. A recent study on board dynamics suggests, however, that the diversity of the board is not as important than what new directors can bring to the board in terms of their expertise, experience and relationships.

Boards can encourage diversity in many ways, such as by setting targets, expanding the candidate pool and promoting inclusion throughout the company. It is essential to devise a strategy that fits your company’s needs and its culture.

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