Most White Male Executives Think Hiring Women and Minorities Is a Waste of Time

Most White Male Executives Think Hiring Women and Minorities Is a Waste of Time

Overview

Reported by Liku Zelleke

Source:Financial Juneteenth

Executive-Team-Whitemen-e1444324181564

These arenas are usually dominated by white men and – according to a survey – they don’t think there is a problem with that fact.

 

The survey, done by PricewaterhouseCoopers on 880 board members of US companies, showed that only 35% of male directors thought gender diversity was “very important” compared to 63% of females.

 

Most of the men disagreed with the fact that diversity in a boardroom – defined as the inclusion of women and minorities – leads to better performance of both the board and the company as a whole.  The survey showed that 31% of males and 74% of female board members said that diversity improved a company’s performance.

 

Paula Loop, Head of Center for Board Governance at Pricewaterhouse, told reporters that men and women board members didn’t seem to see eye-to-eye when it came to diversity in the boardroom and added that until they embraced the fact it would be difficult to make any real progress.

 

And yet, studies have proven that, on average, companies that had more diversity on their boards tended to perform much better financially than those which had less of it. These companies also saw greater diversity throughout the business.

 

Brande Stellings, vice president of corporate board services at the non-profit Catalyst, said that there were many studies which proved the benefits of being diverse before adding that companies’ board rooms and their workforces should reflect the demographics of their customer base and the marketplace.

 

“[Diversity] is going to be good for your business. And in terms of workforce and talent pool, why would you only want to choose from half of the available candidates?” Stellings said.

 

She said that her organization works with many male executives to advance the cause of more women and minorities in the boardroom and that many of them were “stepping up.”

 

So, the bottom line is that if any progress in diversity is to be made, male corporate members will need to make a paradigm shift in their ways of thinking regarding diversity in their companies.