One Step, One Action, One Impact- Diversity One

By: Governance Studio
 
CALGARY, Alberta - Nov. 4, 2013 - PRLog -- Calgary, Alberta, Canada (October 31, 2013) “What if one single change – one tiny shift – doubled the number of diverse directors on North American boards in the next ten years?” So begins the “Diversity One” concept paper issued today by Governance Studio.

“Boardroom diversity, in terms of gender and other diverse measures, such as ethnicity, is becoming a critical issue for shareholders, stakeholders, and regulators – which means that companies need to start addressing it now,” notes Sylvia Groves, President and Creative Director of Governance Studio.

Groves tackles the issue of gender diversity, by highlighting that the first step is for a board to commit to one single change – that of resolving to interview at least one diverse candidate for every board seat that needs to be filled. Drawing on comparisons to the NFL’s Rooney Rule, Diversity One focuses on increasing the number of women on boards without having to enact “pink quotas”. Groves points to research showing that diverse boards are more effective.

Recognizing that diversity on boards is still an uphill battle, Diversity One gives boards a place to start – by taking one simple, new action. Focusing on one small change, rather than a multitude of options, makes it easy for boards to move forward. By requiring only an interview, not a hiring requirement, the policy ensures that the best candidates make it onto the board.

For boards throughout Canada and North America, Governance Studio will be launching a public registry of Diversity One companies; those whose boards adopt the Diversity One policy. To join the registry or learn more about becoming a supporter, contact Sylvia at Sylvia@GovernanceStudio.ca.

It’s time to ask whether your board is willing to make a commitment to Diversity One... and take One Step, One Action to have One Impact.

A draft of Diversity One was released on October 3, 2013 in the joint response from Governance Studio and Global Governance Advisors (GGA) to the consultation about women on boards and in senior management initiated by the Ontario Securities Commission (OSC).

“The glass ceiling is showing cracks, but it is still far too intact when it comes to women on boards and in senior management even in Canada’s biggest and best companies,” said Arden Dalik, GGA’s Managing Partner for Western Canada. “Diversity One is designed to accelerate diversity and give all stakeholders the benefits of diverse boardrooms and C-suites. That’s great news for us all.”

“With the efforts of the CSA and other regulators globally, through a combination of regulation and proaction of directors, diversity in the boardroom will become part of the norm,” added Paul Gryglewicz, GGA’s Managing Partner for Eastern and Central Canada. “When that day comes, governance will have reached another milestone.”

To read the OSC response letter, visit http://www.governancestudio.ca/wp-content/uploads/OSC.pdf.

For a copy of Diversity One, visit http://www.governancestudio.ca/wp-content/uploads/D1.pdf.

Watch for our Press Release announcing the launch of the Diversity One website coming soon.

About Sylvia Groves and Governance Studio

Sylvia Groves, FCIS, President and Creative Director of Governance Studio, is a facilitator, consultant, and author. She created Governance Studio based on her award-winning work in corporate governance. The firm works exclusively with organizations that seek to apply effective governance practices as a fundamental way to add value. Through Sylvia’s expertise and no-nonsense practical advice, Governance Studio has helped thousands of corporate secretaries and directors enhance the effectiveness of their boards and their organizations.

Governance Studiohas been Adding Value to Every Seat at the Boardroom Table™ by creating tailored corporate governance programs that build an effective governance legacy for each organization beyond today. To learn more about Governance Studio, visit www.GovernanceStudio.ca.

For a Governance Studio media kit, visit http://www.GovernanceStudio.ca/media-kit.html.

About Global Governance Advisors:

Global Governance Advisors is an independent, compensation advisory firm that is internationally recognized, servicing clients from offices in Toronto, Calgary, New York and Miami. We provide counsel to Boards of Directors and senior management on matters relating to the compensation and human resource committee's mandate. Specifically, we provide expert advice in the areas of executive compensation, board effectiveness, CEO succession planning, and corporate governance. With over 75 years of experience in the field, we bring excellence, an entirely independent and objective perspective, and most importantly, an assured focus on performance and shareholder interests.

More Information

For more Diversity One information or to book an interview with Sylvia Groves, please email her at Sylvia@GovernanceStudio.ca or call her at 403.991.2154.

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