46 www.blackeoejournal.com Black EOE Journal
DIVERSITY & INCLUSION
T
he consequences of the status quo have never been clearer. Decades of pollution created a climate disaster. Political power struggles are eroding trust between individuals and leading to war between countries. Multiple diseases present public health challenges. Increasingly frequent financial disasters have caused some to question the viability of capi- talism itself. Status quo thinking got us here. Only innovative, critical and diverse thinking will get us out. There's no easy fix to the problems we face but there are a couple of big levers we can pull that will shift things in a positive direction. Where can we find these levers, you ask? So much of the human experience is shaped by big companies and big companies are shaped by their board of directors. A change at the board level will change companies and the companies will impact societal outcomes. Change is never easy, but its nearly impos- sible when the people responsible for enacting the change dont see any reason to. This article is for you if youre being asked (or compelled)
How to Make Boards More Diverse
By Dr. Apollo Emeka
to change, or if youre the one trying to compel folks.
Why are Corporate Boards so Important?
Corporate boards influence company strat- egy and determine both institutional and indi- vidual relationships in and out of the company. Corporate boards choose the C-suite: the people who control the most powerful, non- governmental organizations on earth. Boards composed of people who all have the same pri- orities, values and blind spots (which has his- torically been the case in America) are limited in their ability to affect change. There have been efforts in recent years to increase board diversity. Motivations for this push range from economic self-interest (some studies show that diverse groups make better decisions) to social justice (shouldnt the pow- erful institutions of America reflect its multi- cultural population?). However, meaningful changes to board makeup have not yet been achieved. Not even close. Instead, according to a 2022 New York Times article, directors from underrepresented groups occupy 17 percent of board seats, up from 14 percent in 2020. Not only is a 3 percent increase insignificant, it is telling that someone would think to combine all non-white males into a single group and consider it meaningful. This tells me perspec- tives on what representation looks like need to change. There are concrete steps we can take to make meaningful changes to board diversity. Here are a few to keep in mind:
Critical Mass" is Critical
In order for us to realize the moral, cultural and economic benefits of diversity, equity and inclusion, we need to reach a critical mass of distinct perspectives within the boardroom. Including one person with a diverse identity is unlikely to turn the tide of status quo think- ing. No one woman can speak for all women. No one Black person can speak for all Black people (besides maybe Beyonc?). Expecting someone to be the sole representative of the
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