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.
We are often quite unaware of how our belief systems are influenced by various external factors, and how those beliefs may impact on our decisions and actions. Not interrogating information that we are being fed on a daily basis could quite easily lead to a skewed view of reality, which may lead to inappropriate decisions or actions. Reflecting on how we have come to our conclusions should be standard practice for leaders.