The Solution to Board Diversity from a Black Woman

Unapologetically Prioritize and Sponsor Black and Brown Women.

Summary

The article addresses the underrepresentation of Black and Brown women in corporate boardrooms. It emphasizes that the lack of diversity is not due to a lack of qualified candidates, but rather stems from prejudice and inequitable systems. The solution lies in active sponsorship and promotion by current board members, along with coaching and support for Black and Brown women. Legislative measures and policy changes are also important. The article stresses the need for immediate action to elevate qualified individuals for improved decision-making and a more equitable society.

Key Highlights

- Representation of Black and Brown women in corporate boardrooms is disproportionately low.

- Lack of diversity is a business issue, as companies with diverse boards are more likely to experience higher profits.

- Current board members must actively sponsor and promote diverse talent.

The Current State of Board Diversity

Despite the progress made in recent years, the representation of Black and Brown women in corporate boardrooms remains disproportionately low. For every 100 men promoted to manager, only 58 Black women are promoted, and they are underrepresented in the workplace for a variety of reasons, including a ‘broken rung’ at the first critical step up to manager. While the number of women and ethnic minority corporate board directors has increased, most gains have involved White women and men of color, leaving ethnic minority women with only 5.66 percent of Fortune 500 board seats.

The lack of diversity is not only a social issue but also a business one. Companies with the most ethnically and gender diverse boards are 43 percent more likely to experience higher profits. However, traditional recruitment practices have often excluded diverse candidates, focusing instead on a narrow pool of former or active Fortune 500 CEOs and CFOs, where little diversity exists.

The Misconception of Inadequacy

The argument that there aren’t enough qualified Black and Brown women for board positions today is a misconception. Qualification, experience, and training are not the primary barriers; rather, prejudice, unequal treatment of talent by gender, and inequitable social and business systems are the real issues. The narrative that Black and Brown women lack opportunities and connections for board readiness not only perpetuates misinformation but also overlooks the fact that Black women, in particular, are leading in entrepreneurship and independence of thought.

The Role of Current Board Members

The solution to board diversity lies with the current board members and executive teams of companies. They must actively sponsor and promote diverse talent, recognizing that the inclusion of Black and Brown women is essential for disrupting toxic work cultures and social norms. This requires a shift from punitive methods to incentive models that correct discrimination and bias.

Empowering Black and Brown Women in the Workplace

To address the systemic issues, companies must invest in coaching for Black women, helping them manage their careers and advance to leadership positions. Leaders need training to recognize and mitigate micro-aggressions and racial trauma, ensuring psychological safety for Black women in the workplace. Additionally, interventions to reduce burnout and improve recovery for Black women are crucial.

Legislative and Policy Measures

Legislation, such as California’s law requiring diversity on corporate boards, has shown some success in increasing the number of women on boards but has had limited impact on ethnic and racial diversity. Nasdaq’s proposed rules for board diversity are a step in the right direction, as they require companies to have diverse board members or explain their absence.

Conclusion

The path to board diversity is not through homogenization or the perpetuation of stereotypes but through the immediate elevation of qualified Black and Brown women to board positions. This will not only benefit the companies with improved decision-making and profitability but also contribute to a more equitable and just society. The time for change is now, and it begins with the recognition and empowerment of the talent that already exists among Black and Brown women.

About the Author

Ayori ‘Selfpreneur’ Selassie is an Investor, entrepreneur, and advisor in the field of Data and AI (Artificial Intelligence), is the patented inventor behind Life Model Canvas®, the creator of Life Model Design, a framework to live a better life. Ayori is the Founder and CEO of AI Newbies, where she produces podcasts, AI training and workshops to make AI more accessible to non-techies.

This article was originally published on theselfpreneur.com.