Getting on Board: Advice for Minority Women on Pursuing Board Service

By Robin Madell (San Francisco)

Three percent. That dismal number reflects the number of overall board seats held by women of color directors among Fortune 500 companies in 2011, according to Catalyst’s latest study on Women on Boards.

We may have grown weary of seeing numbers under 20 percent for women’s total board membership—in the United States, the latest figure is 16.1 percent, with the vast majority of countries studied posting even lower numbers. Yet when we scrutinize the data still further, we see that most board seats in women’s too-small slice of the pie—13.1 percent—are held by white women.

In fact, Catalyst’s research shows that when we look at individual companies, almost 71 percent have zero women of color directors serving on their board. Asian women and Latinas are particularly underrepresented when we examine the data for all women directors, holding only 2.5 percent and 4.9 percent of seats, respectively. Black women account for only 11.3 percent of all women directors.

How can we change this situation? Beth Stewart, CEO of Trewstar, which specializes in the placement of women on boards, says that companies need to make adding minority women to boards a specific priority. She explains, “This means that when they come up with a long list of very specific criteria, they need to choose race as the determining factor and not, for instance, supply chain management experience in China. Find that in the next white guy, and accept any type of high level business experience from a minority candidate.”

Stewart emphasizes that this does not mean lowering the criteria, but broadening it. “For example, if you were looking for someone who was a CFO and you find someone who is EVP for Technology, take the EVP for Tech and find the finance person in some other form—or add two directors,” says Stewart.

Other organizations, like the Robert Toigo Foundation, are also hard at work on the problem. Among Toigo’s initiatives is All A Board, a program for connecting boards with diverse candidates.

The program allows women and minority professionals interested in board service to use a free online tool to designate areas of interest and showcase their areas of expertise. The Toigo team uses these profiles to help connect board candidates with public and private companies, nonprofits, and foundations that are looking for leadership talent.

Nancy Sims, president of the Robert Toigo Foundation, also provided advice on what minority and multicultural women can do to improve their chances of landing a board seat—and what companies can do to help facilitate their efforts.

“The pipeline is growing,” says Sims. “But there is more to be done to both prepare women and minorities for board service—and to prepare boards for a change of composition. Creating a bigger supply, or pool of talent, without prompting an increased demand for the talent is only half of a solution. We need both the supply and the demand to expand for greater board diversity to occur.”

Prepare for Board Service

When it comes to preparing for a board opportunity as a minority woman, access to opportunities and board education are both critical steps. Platforms like All A Board help promote talented and qualified candidates directly to boards—a move that Sims emphasizes will help broaden the community of available candidates for consideration.

But preparing specifically for board service is another key step. This year, Toigo will introduce a board education series to provide candidates with training and access to experts.

“While there are many established and well-regarded Directors Colleges (including those at Stanford, Harvard, University of Chicago, Wharton and UCLA), there is opportunity to introduce an education platform that is focused on diverse candidates and the unique challenges they may face when joining a board,” says Sims. “Issues of tokenism, for example, can be challenging for a multicultural woman joining a board made up of all male board members. Our goal is to provide minority board candidates with the insights and skills needed to succeed and contribute in addition to topics that address governance for the future.”

Stand Out

It’s not easy to qualify for a board seat under any circumstances, so it’s important that your efforts are visible. For example, if you create a board profile with Toigo, go the extra mile to add bells and whistles. Sims suggests that including a video pitch—a 60-second “short” on your interest in board leadership and qualifications—is a great way to differentiate yourself. Including articles you have authored and other supplementary materials is another way to stand out.

“All materials posted to a candidate’s profile, including their resume, are searchable,” explains Sims. “That means information in those materials that might not be communicated within the All A Board candidate profile add to your story—and help prospective boards get a better sense of your leadership and professional credentials.”

For Companies

As Sims emphasized, creating a bigger talent pool of board-qualified minority candidates is only half the battle. The other half involves increasing the demand for minority directors. Sims reiterates what has become a popular refrain in arguing for increased female participation on boards, as well as increased minority participation: that greater diversity of thought and talent on a board drives better results.

“This is not a social or philanthropic endeavor; board diversity is tied directly to improved financial performance of an organization,” says Sims. “Broadening the view of what makes an ideal board candidate is also important.”

At Toigo’s recent women’s leadership event, the Foundation hosted a discussion on this topic. One area that was discussed was that many nominating committees believe that a CEO of a public company has the skill-set of an ideal board candidate. This requirement means that few women would qualify, since few women are CEOs of public companies.

“By broadening their definition of what makes a great board member, boards will be more open to considering candidates with different experiences and expertise, candidates with different cultural backgrounds, candidates who ask different types of questions, who challenge existing ways and offer fresh perspectives,” says Sims. “It’s a first, critical step for avoiding groupthink—and embracing greater diversity.”

Women are invited to register for board service through All A Board at the following link: http://allaboard.intronetworks.com/.