Due to the Covid-19 pandemic and ongoing racial justice protests, corporations face increased pressure to advance equity in the workplace—including by diversifying their boards of directors. The new Missing Pieces report from the Alliance for Board Diversity (ABD), in collaboration with Deloitte, found that Fortune 500 boards comprising 40% women and people of color has quadrupled since 2010. (Catalyst is one of four leadership organizations that make up ABD.)
But a closer look at the numbers reveals that White women gained the highest number of seats. In 2020, women of color still represented the smallest percentage of boardroom seats (6%). And White men comprised more than half of newly appointed directors that same year.
“A diverse and inclusive board comes from breaking the habit of relying on the usual candidates, and tapping into various networks to identify board-ready candidates,” said Catalyst President & CEO Lorraine Hariton. “Without this effort, companies risk falling behind in having a board positioned to address complex challenges.”
Read about socioeconomic board diversity, a growing trend to appoint non-executive-level board members to ensure that workers’ interests are considered in corporate decision-making.
“The important thing to think about is: Who is your network, where is it, how do you build it, and how do you keep building it, to be sure that the right people know who you are?” – Anne Taylor, Board Director
In conjunction with the Missing Pieces report, Catalyst Vice President of Corporate Board Services Meesha Rosa spoke with board directors Kiren Singh and Anne Taylor in a conversation streamed live on LinkedIn. Singh and Taylor shared their paths to the boardroom and offered advice for aspiring women directors.
Early bird-ticket packages are now available for Catalyst Honours 2021, our virtual conference on October 27 and 28. In the wake of a global pandemic that has laid bare racial and gender inequities, Catalyst is gathering top global leaders to promote humanity at work—advancing empathy, equity, and inclusion in the post-pandemic workplace. Six exemplary Canadian business leaders, the Catalyst Honours Champions for 2021, will be honoured.
Early-bird package ticket buyers can also access on-demand content from the 2021 Catalyst Awards conference.
Workplaces rooted in humanity support employees of all identities. Catalyst’s latest Supporter-exclusive topic overview, Inclusive Self-Identification, offers guidance to employers seeking more accurate—and comprehensive—data collection on employee demographics. As we approach International Non-Binary People’s Day on July 14, this important resource can help you build better policies for all employees, especially LGBTQ+ individuals.
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Results of Last Month’s Poll
In last month’s C-News, we wrote about the future of hybrid work and the return to in-person workplaces. We asked you to weigh in on your preferred working situation. Here’s what you had to say.
How Do You Want to Work After the Pandemic?
Note to subscribers: There will be no C-News, Catalyst Connects, or MARC Momentum in August—but don’t worry, you’ll hear from us again starting in September.
