Diversity in boardrooms is not a box-ticking exercise- it’s a strategic necessity

Diversity and inclusion in all areas of life is a positive, and business is no exception. But the higher in the corporate hierarchy you look less diverse the picture. Diversity in boardrooms isn’t a PR exercise, it’s a known fact that diverse boards make good business sense. However, there has been a worrying decline in ethnically diverse candidates lately. The numbers were down 12% in 2023 for non-executive board appointments across the UK’s 150 biggest listed companies according to the UK Spencer Stuart Board Index. What is the issue here? Amanda Rajkumar, a board-level HR practitioner and former Adidas chief HR officer, explains…

Last year saw devastating wars, the breakout of generative AI?and an increasingly critical climate crisis?transform the world we live in. Unfortunately, in times of crisis, businesses tend to default back to prioritising experience over diversity of mindset on their leadership teams and boards – a trend we saw play out last year and looks set to continue into 2024.

Boards are primarily responsible for increasing shareholder value and overseeing the strategic?direction of the company, but the composition of these decision-making entities is a key determining factor for the effectiveness and profitability of the strategies they implement.

Read the full article at https://palife.co.uk/news/current-affairs/diversity-in-boardrooms-is-not-a-box-ticking-exercise-its-a-strategic-necessity/

#diversity #inclusion #boardroom #C-suite