Greater diversity leads to better boardrooms

The nature of business in Britain will not change until there are a sufficient number of female executive decision makers at the top of the boardroom. Although there aren’t any all male boardrooms; most of the women in the boardroom take on non-executive roles.

Greater diversity at the top of the boardroom would lead to better decisions being made. Therefore, smaller companies should not miss out on the talent that is on offer just because they fear that the costs may outweigh the benefits.

It has been found that the best school and university leavers are female; therefore it could be really beneficial to companies to utilise the skills and knowledge women have and promote them within the company. This would help smaller companies to attract female talent and encourage them to stay within the company being aware of the progression that is available. This would also benefit the employer as they would increase their staff retention and reduce costs in training new staff.

Not only should woman orientated programmes be implemented, but black and ethnic minority talent should not be lost. After all; greater diversity not only leads to better directors but better businesses too.

Source: Director Magazine November 2014

Top 10 Reasons why Diversity is good for the boardroom:

  1. It reflects the real world
  2. Healthy debate can lead to better decisions
  3. Divergent backgrounds mean tackling the same idea in differing ways
  4. Great ideas come from disruption of the status quo
  5. Your clients and customers are diverse
  6. This can make your company knowledgeable and sensitive to a wider variety of groups
  7. Counsel from a variety of authorities is sensible
  8. Setting an example at the top will hopefully have a trickle-down effect within the organization
  9. Improved reputation and brand
  10.  A variety of backgrounds can make the company more adaptable to its ever changing environment

Source: LinkedIn – Victoria Carter

Explore more from our blog here...