Diversifying the Boardroom: What it really means to create a diverse recruitment process
Diversity has become increasingly relevant in business circles over the last few years. Sadly, though, it can sometimes degenerate into a tick-box exercise without due care and attention. Which leads us to question whether the widespread interpretation of what ‘diversity’ is might be hindering Director and Chair search and CEO recruitment. Ironically, a narrow view of diversity could actually be contributing to greater C-suite homogeneity.
At Red Diamond Executive Headhunters, we take our commitment to diversity (in its purest senses) seriously. We believe that the best recruitment processes shouldn’t just look at a person’s appearance or culture, but should take into account a range of factors, including their skills, experience, attitude and potential. We’re constantly looking for innovative ways to ensure our clients get the best talent for their position, regardless of who or where they are.
At Red Diamond Executive Headhunters, we understand that diversity is the key to creating a successful workplace. We also recognise the very real and disproportionate shortage of female Managing Directors and Finance Directors, and actively take steps to address this gap wherever possible. Our commitment to promoting gender balance in executive search has resulted in tangible results for our clients and we’re proud of this accomplishment.
We remain dedicated to creating a diverse network of contacts and employees to ensure our clients receive the best possible service. We strive to go beyond traditional definitions of diversity, while also recognising that everyone brings something unique to the table. Ultimately, at Red Diamond Executive Headhunters, we believe that fostering an environment where different perspectives are valued is the key to success.
What is meant by boardroom diversity?
The Oxford Dictionary defines “diversity” as “the practice or quality of including or involving people from a range of different social and ethnic backgrounds and of different genders, sexual orientations, etc.” But it also defines it as “the state of being diverse; variety.” Both elements are unquestionably important, but we wonder whether the blind pursuit of the former, simply to fill a quota, could actually be diluting the latter in boardrooms UK-wide.
Diversity is more than just skin deep; it encompasses a broad range of different characteristics and beliefs that can shape an organisation’s culture. These include such things as gender, ethnicity, social background, religion, sexual orientation, age and disabilities. From an executive search point of view, diversity can also encompass placing C-suite candidates from different regions or other industries to bring innovative ideas to the boardroom table.
After all, “boardroom diversity” is all about encouraging a broad spectrum of perspectives in the boardroom. It’s essential for companies to promote boardroom diversity to create an inclusive environment that promotes fresh ideas and perspectives. This can be achieved through recruiting from different countries or regions, striving for gender parity, and embracing social diversity to create a level playing field for everyone seeking a leadership role.
Women especially remain woefully under-represented at Managing Director and Finance Director level. This is an issue that needs to be addressed, as it’s not only detrimental to the individual but also to organisations who are missing out on some of the best talent available. In fact, boards that effectively integrate female directors have been shown to make more collaborative, unified decisions than those with less female representation.
According to a recent article in the Harvard Business Review, “companies whose boards had well-integrated female directors experienced 10% higher stock returns, and their shareholders were 8% less likely to formally dissent to board decisions, than those that diversified without prioritizing real inclusion — even if the board only had one woman.” In other words, integrated female board members can vastly improve company performance.
What are the benefits of diverse recruitment?
Diverse recruitment offers several benefits. It helps to create a more inclusive work environment as different backgrounds bring fresh ideas to the workplace. It also provides an opportunity to access talent from all demographics, increasing the chances of finding the best person for the role, regardless of their background. Moreover, diverse recruitment breaks down stereotypes and biases, improving performance in the long run.
By employing a diverse workforce, organisations can tap into a wealth of different perspectives and experiences that can be invaluable. Diversity also helps employees to feel more comfortable in the workplace, which can lead to better motivation and productivity. So having a diverse recruitment policy is an effective way to attract top talent and ensure your business benefits from improved customer relationships and a wider reach in the market.
How can organisations ensure diverse recruitment?
Organisations should strive to create an environment that’s welcoming and inclusive of all types of candidates. This can be done by reviewing existing policies and procedures to identify any areas that may be creating potential barriers to diverse recruitment. It’s important to ensure all job postings are written in a way that’s open and inclusive of all potential applicants and look beyond traditional geographical, gender and socio-economic silos.
Why is diverse recruitment important?
Diverse recruitment is important because it leads to better decision-making, creativity and innovation. Research has shown that diverse teams tend to be more efficient and productive due to their various different perspectives and experiences. Having a team with a wide variety of backgrounds can help to build trust and respect between colleagues, and ultimately create an atmosphere where everyone feels valued, respected and seen.
What are the benefits of recruiting abroad?
Recruiting abroad can open up a range of opportunities. It allows companies to access talent pools (and therefore perspectives) that differ to those found in their home countries, and gives them the chance to broaden their international presence. Recruiting abroad can also give organisations an edge when it comes to global competition because hiring and retaining foreign talent enables businesses to gain access to new markets and customers.
What strategies can be employed to increase diversity?
One of the key strategies for increasing diversity is revisiting recruitment processes. Companies should ensure that they’re actively promoting diversity in the workplace and creating a culture where everyone feels welcome. This can be done through initiatives such as mentorship programmes, diversity training sessions and employee resource groups. Employers should ultimately be open to considering candidates from a wide range of backgrounds and experiences.
What are the challenges associated with diverse recruitment?
One of the biggest challenges that organisations face when it comes to diverse recruitment is differences in culture and language. Employers need to be aware of any potential barriers that could prevent foreign applicants from properly integrating into the workplace. Additionally, businesses should also be aware of any potential legal issues that could arise due to hiring people from abroad, and ensure they have all the necessary paperwork in order.
Achieve your diversity goals with Red Diamond
Red Diamond Executive Headhunters are the experts in delivering a diverse recruitment process. Our experienced team will ensure your organisation has access to the right talent from all backgrounds and perspectives, drawing from a talent pool of diverse individuals who are well-equipped to excel in your executive roles. With our help, your business can create an inclusive environment that celebrates diversity and maximises talent in one fell swoop.