Recruitment and Retention of Diverse Board Members

Recruitment and Retention of Diverse Board Members

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Recruitment and Retention of Diverse Board Members

If you want your business operations to run smoothly for the foreseeable future, one must emphasize diversity and inclusion. Countless benefits come as a result of a diverse workforce. Having a labor force that comes from all aspects of life will serve as a framework for distinct outlooks and ideas that help steer an organization’s creativity and innovation culture. An inclusive environment also facilitates cultural awareness that allows an organization to understand its heterogeneous clientele base needs and wants virtually. Frequently, numerous business analysis reports have stated that it leads to better profits in organizations that emphasize diversity. Forbes reported that organizations that tend to practice variety, both ethnically and culturally, at the executive levels stand a chance of 33% better in profit realization. Unfortunately, most companies in various industries struggle badly with diversity and inclusion, more precisely in senior positions.

The National Council of Nonprofits is firmly in favor of equity and justice. Simultaneously, it also plays so hard to disregard activities that encourage racism, intolerance, exclusion in the workplace, or even society. Perhaps, holding a particular opinion is still not enough. The National Council of Nonprofits, in conjunction with other charitable organizations, have been working hard in coming up with strategies that enforce diversity, inclusion, and equity in their operations, not to mention modeling those values as they continue to advance their mission (“Why Diversity, Equity, and Inclusion Matter for Nonprofits”, 2020). If organizations can endorse diversity, equity, and inclusion as their values, this could intentionally create room for desirable results to succeed, irrespective of their sphere of influence. Organizations should articulate their values and should always adhere and be guided by them. Perhaps, companies can use their staff and board meetings to examine their core values. They should always seek to find how those values will apply in their daily operations.

Organizations need to examine biases that exist internally and encourage measures that enhance work diversity, equity, and inclusion, in their recruitment processes, boardroom, and communication. Both the employers and the employees should be taught how to endorse diversity and inclusion. Organizations mostly begin with encouraging self-awareness (EBSCO Information Services, 2020). For any organization to be considered truly inclusive, it is a prerequisite for them to display honesty. Contemplate the policies that your company employs in its daily operations. One should ask him/herself or even the workmates some challenging questions. The obvious question should be, what is your recruitment and hiring criteria like? It would also be best if you consider the composition of your various units and departments. Think of the process of hiring managers and executives. With all that mind, how do you rate your company’s investment in diversity and inclusion?

The information can help you to create a plan on how your organization can improve. For instance, your company’s human resource unit should perhaps consider giving job positions to excellent international students or even request several female employees to take part in executive board meetings. Such approaches require colleagues’ consultations to make sure that the process is worth it.

Organization leaders should always lead as an example If they anticipate coming up with a more diverse culture for all the employees. Given some circumstances, it may not be an obvious thing to do; perhaps, it somewhat tricky than we ought to think. People usually fail to view the world like it is; instead, they see it as they are. With that in mind, managers in various organization departments should be guided on acknowledging any subconscious bias. The biases can prevail at any leadership level, from the recruiting process to promotion and any organization decision in between (EBSCO Information Services, 2020). It is recommendable when one shares valuable information with the managers concerning your organization’s self-reflection to understand the bigger picture of the organization to others. Following the managers’ recognition of the biases that exist internally, you can always collaborate to develop precise guidelines on how to handle the issues of diversity within teams. Managers are encouraged to come up with clear goals concerning diversity and inclusion. Managers are held accountable by repeated meetings aiming to discuss their objectives and the organization’s trajectory.

It is also essential for companies to update their culture. Creating an inclusive environment is crucial since all the employees are playing their roles and are involved. One can start by enacting a training program that is company-wide diversity to facilitate the understanding of employees concerning the organization’s policies and why they are crucial. It is vitally essential for the employees to research these topics independently (Liu, 2020). Of course, it goes beyond workshops and lessons regarding matters related to the company’s changing its culture. Organizations should encourage their employees to socialize freely with one another after-work activities or even by hosting networking lunches and dinners.

Also, organizations should examine acknowledging all holidays irrespective of employees’ culture or religion. Companies can best implement this idea through paid off-days, sending best wishes to those celebrating holidays, at-work celebration, among others. Creating an organization that encourages and consider diversity and inclusion should be the number one priority for your organization. It can always be a straightforward exercise as long as there are the right mindset and the right tools to create an inclusive environment and value diversity. For some companies, doing the right thing can facilitate spurring the action. On the contrary, others require detailed information and facts, finding that diversity is part and parcel of boosting quality decision-making, not to mention that diversity in the workplace can influence individuals to be hardworking and more devoted.

For LOAM to address their challenges, they should consider their models of governance (Mazzola et al. 2020). A board of directors is the first entity to the provision of management to an organization. The governing board has different implications on the day-to-day operation of an organization. The governance practices measure board effectiveness as they are the image of the board’s capability to execute various functions and competences. The governing board has to achieve several and vital responsibilities for it to be effective. One of the duties is to hire, support, and evaluate the company’s executives. It also establishes a precise organization goal and approves the company’s projects. It facilitates sound fiscal management, not to mention the company’s financial stability (Mazzola et al. 2020). All the board members should always portray the right skill sets required on the board. An organization board member should be from a diverse group of people with specific characteristics to execute its fiduciary obligations most effectively. Organizations can retain diverse board members when they emphasize recruiting and hiring passionate and knowledgeable individuals who understand the organization’s mission and goals. For an organization to be considered inclusive, its governance must seek to include demographic diversity. It will help the board members fully appreciate the organization practices concerning cultural diversity and inclusion in the workplace.

In conclusion, considering the governance models is crucial since they reshape the organization’s culture and always foresee improvement areas. The governing board spearheads the activities of an organization. If its governing style is not suitable for the employees and the stakeholders involved, they are most likely to steer the company in the wrong direction and vise versa. That can have an adverse effect on employees’ retention and recruitment. It would be crucial for LOAM to reconsider its governance models since it will help resolve the internal biases and restore diversity and inclusion.

Reference

EBSCO Information Services, I. (2020). Three Ways to Support Diversity and Inclusion at Your Company. EBSCOpost Blog. Retrieved 9 October 2020, from https://www.ebsco.com/blog-corporate/article/three-ways-to-support-diversity-and-inclusion-at-your-company.

Liu, B. (2020). The Secret to Making Boards More Diverse: Better Networking. Barrons.com. Retrieved 9 October 2020, from https://www.barrons.com/articles/diverse-boards-make-better-companies-so-the-nyse-is-taking-action-51580927401.

Mazzola, M. E. C., Pontacolon, J. L., Claudio, A., Salguero, J. A., James, M., & Yawson, R. (2020). RECRUITING FOR SUCCESS. DOES BOARD DIVERSITY MATTER?.

Why Diversity, Equity, and Inclusion Matter for Nonprofits. National Council of Nonprofits. (2020). Retrieved 9 October 2020, from https://www.councilofnonprofits.org/tools-resources/why-diversity-equity-and-inclusion-matter-nonprofits.