Board of Directors Diversity Is Linked To Company Growth Says Diversity Executive Search Firm
Carl J. Taylor, a management consultant and executive search and recruitment expert of over 20 years, explains the trend of diversifying Board of Directors memberships and offers reasons why it’s key to long-term growth of businesses.
June 14, 2011 - PRLog -- Carl J. Taylor, head of Carl J. Taylor & Co., a firm specializing in retained executive search, recently discussed how companies are benefitting from diversity recruitment to their board of directors and executive leadership ranks.
Taylor has witnessed executive recruitment trends and how they impact his clients and the overall business landscape. He sees the efforts of diversity-oriented hiring for executive level positions and board of director posts as a welcome development.
As the recent Census confirmed, the U.S. is, and will continue to be, a country with a wide variety of people. All companies and organizations which seek to employ and serve this diverse population must make sure that they understand the various backgrounds, needs, and wants of these people as well as they can.
The most progressive and innovative companies and organizations are pushing for a more diverse workforce to perform executive-level positions and to sit on their boards of directors. The idea of board of directors diversity has gone from being a practice that is simply the right thing to do or that is required toward a more pragmatic realization that it makes real business sense.
Various studies and surveys are beginning to document that those companies which add diversity candidates to their boards are convinced that the company benefits quantitatively and qualitatively. McKinsey conducted a study of business leaders who indicated that those companies with female directors saw financial improvement in their organizations.
Other companies with diversity board members have noticed improved customer satisfaction, broader cultural awareness, recruitment and retention success, more innovation in their decision making process, stronger brand recognition, and other benefits.
One of the biggest challenges for diversity hiring has been the identification of qualified candidates, especially for boards of directors. Taylor readily admits that many companies struggle with diversity recruiting on their own, including his clients.
A recent PricewaterhouseCoopers survey of board members indicated that 86% of respondents rely on existing board contacts to recruit new directors. The study raised the question that if this is the method of recruiting new directors, they may not be tapping new, more diverse resource pools of candidates. Taylor noted that his clients often exhausted their networking efforts to find viable candidates before they sought his assistance.
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Carl J. Taylor & Co. is a retained executive search firm. For an in-depth look at the firm’s diversity executive recruitment services, please visit http://www.DiversityExecutiveRecruiting.com or you may also call Carl’s office at (972) 490-7697.