In Board Diversity, directors bring different skills and experiences to the table. The combination of these skills creates a forum for discussion and debate which leads to a variety solutions to problems. This constructive way of tackling conflict boosts the efficiency of the board and increases the performance of the company. This is beneficial to shareholders and all other stakeholders.

Board diversity can offer insight into the culture and preferences for diverse social groups. This will help businesses better serve their customers. This gives a better understanding of the market, which can lead to more opportunities for growth as well as profitability.

Therefore, diversity is no longer just an issue of appearance. It has a direct impact on the bottom line and any business that is looking to get an edge in this highly competitive market must make diversity a top priority.

A diverse board fosters an inclusive workplace culture that attracts and keeps talent. This leads to greater productivity and a competitive edge. In fact an earlier Deloitte survey found that 80% of workers say that workplace diversity is essential to them.

To ensure that their boards are representative, they should identify new board members who can be mentored to prepare for the role of a board member. Additionally they should consider looking beyond their existing business relationships to discover candidates view it now with a range of backgrounds and experience. Spending time to accomplish this will help to build stronger and more resilient company, and also ensure that all voices are heard in the boardroom.