Diversity is everything when it comes to running a business in 2019. Diversity has less to do with replacing an all-male board with an all-female board but instead assembling an executive team that values variety in backgrounds, thinking and approaches.
We have come a long way since the 1992 book ‘Men are from Mars, Women are from Venus’ was published. Society is continuing to challenge the social construct of gender stereotypes. In fact, over the past few years, we have increasingly seen mainstream gender equality debates that have progressed to pushing for all-female teams. Supreme court Justice Ruth Bader Ginsburg – AKA ‘the Notorious RBG,’ said “When I’m sometimes asked when will there be enough [women on the Supreme Court] and I say, ‘When there are nine,’ people are shocked. But there’d been nine men, and nobody’s ever raised a question about that.”
Green Party MP Caroline Lucas recently proposed an all-female cabinet, stating that [the characteristic of] “Female cooperation was vital to the Paris climate agreement and bringing peace to Northern Ireland. […] intractable problems have found the beginning of resolution thanks to the leadership of women.”
Focussing these wider gender debates into a business context, would there be any benefit of an all-female board?
We do not advocate an all-gender or race specific agenda when recruiting for your boards or your management team. Fortitude Dynamics Group works with helping companies build the best board with the best people. However, we have seen businesses suffer due to hiring the same faces, from the same backgrounds and with the same boring offerings. We need boards to break the mould and discover the breath of fresh air that diversification can be to a company and a team.
Dame Vivian Hunt, from McKinsey UK, in their 2018 ‘Delivering through Diversity‘ report demonstrates that: “The correlation between diversity and financial performance is clear across different sectors and geographies: more diverse teams equals significant financial out-performance.”
So why do we need an all-male dominated establishment or an all-female establishment? WE DON’T! The key here is: diversity. In order to build a successful company with a strong ethos, you need diverse minds for out-of-the-box thinking. Rather than striving to assemble single-sex leadership teams, we believe that the most strategic approach for organisations would be to aim for a balanced, diverse board.
Fortitude Dynamics Recruitment has a track record of assisting with board-level recruitment assignments that also consider the Equality and Diversity needs of an organisation. Visit https://www.fortitudedynamicsgroup.com/recruitment/ to find out more.