The investment bank Godman Sachs recently announced their new diversity rule that states that they will no longer take companies public that do not have at least one Board member from an underrepresented group. Although this is a gesture in the right direction, it also amazes me that at that inflexion point where they were about to make a ‘bold’ decision, the decision itself can only be labelled as bold when you compare it to the past and not to what is needed for the present and future. Depending on the size of the Board, insisting on one individual is hardly going to make a meaningful dent in the actual diversity that is needed, of course noting their phased approached, according to news reports, which looks at least two female directors by 2021.
The Covid-19 pandemic and related lockdowns around the globe has put a spotlight on the need for empathy. Many have been able to display great empathy, while others have been struggling. I suspect that those organisations that have typically been bottom line driven, would have found it a lot more difficult to deal with the levels of empathy required in dealing with employees who suddenly had to go into a mini diaspora, while dealing with the inevitable bereavement that accompanied the virus as it wreaked havoc.