Despite widespread acknowledgment of the importance of diverse leadership, many corporations still struggle to bridge the gap in both representation and compensation. By adopting a strategic, multifaceted approach, businesses can make meaningful progress toward inclusive governance, ensuring that board diversity is not only a goal but a reality.
1. Commit to inclusive recruitment practices
It seems obvious but achieving board diversity has to be driven by a concerted effort. Expanding the search for board candidates to include diverse networks and adopting inclusive criteria will help identify and elevate qualified women into board positions.
2. Promote equity in leadership roles
Ensuring women are not only present on boards but also featured in leadership positions within those boards and within C-suites is crucial for closing the diversity gap.
3. Conduct regular diversity audits
Perform routine assessment of current composition across gender, race, LGBTQ+, disability status. Set goals that align with diversity efforts based on business needs and stakeholder expectations.
Bedford Group/TRANSEARCH is one of North Americas leading privately held executive search and talent strategy firms, with offices in Toronto, Oakville, Calgary and Boston. Founded in 1980, The Bedford Consulting Group is the North American partner of TRANSEARCH International, one of the Top 10 largest executive search firms in the world, with 60 offices in 40 countries.
