Today, most directors understand that diversity on boards is no longer a nice to have. It is a critical element that ensures the board has access to a broad range of perspectives, which in turn enables better decision making and results.
With the current challenges and volatility facing organisations, largely exacerbated by the war in Ukraine, having a diverse representation on boards is more important than ever.
The issue is those boards that do take diversity seriously are usually looking at it through the lens of demographics – such as gender splits and minority representation. While such diversity is important, too often the chair and other directors ignore other vital areas where they need to have diversity to be effective.