Diversifying Board of Directors Has a Positive Impact on Current and Future Growth Says Executive Search and Recruitment Veteran
Carl J. Taylor, head of Carl J. Taylor & Co., a Texas-based management consulting firm specializing in retained executive search (http://www.DiversityExecutiveRecruiting.com), recently discussed how companies are benefitting from adding diversity candidates 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 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 recruitment 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.
Carl J. Taylor & Co. is a executive search firm with experience in diversity executive recruiting & diversity executive search. For an in-depth look at the firmís diversity executive recruitment services, please visit http://www.DiversityExecutiveRecruiting.com or call (972) 490-7697 for a free consulation with Carl. J. Taylor president of Carl J. Taylor & Co.
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