Building a diverse corporate board requires a thoughtful, strategic search execution process. Diversity in Boardrooms has made its mission to assemble diverse and highly competent boards of directors by implementing a unique, comprehensive seven-step process, culminating to a match that benefits both candidate and company:
Step One: Consultation – Understanding the Client’s Business
Reviewing the company’s business goals is only the first part of the process. Grasping the corporate culture, taking a look at both the company’s demographics and constituencies, also are critical to evaluating the client’s needs. Diversity in Boardroom spends as much time as is necessary with the client to get the full picture.
Step Two: Need Assessment – Identifying the Client’s Needs
Diversity in Boardrooms analyzes all the information it has gathered in the consultation phase to identify the client’s real need, and get a clear idea of the type of candidate best suited to the company.
NOTE: In the case of creating an Advisory Board, the areas of needed expertise are decided upon prior to the selection of the Advisory Board
Step Three: Proposal – Developing an Effective Search Strategy
Diversity in Boardrooms formulates a search strategy that consists of targeting the right candidates through passive and active prospect identification and referral from trusted sources. The candidates we select have a history of working with others as a team, and who will take into account the interests of all company stakeholders.
NOTE: In creating an Advisory Board, the CEO’s contacts and relationships are evaluated to build most of the board while Diversity in Boardrooms only recruits one or two of the new members with the expertise that is needed to complete the Advisory Board.
Step Four: Research – Building a List of Candidates
From the original, long list of candidates, Diversity in Boardrooms draws a short list of individuals that are specific matches to the client’s needs. Informal references from a national network are conducted along the way.
Step Five: Follow-through – Interviewing Candidates
Interviewing potentially relevant candidates is the next step in the process, allowing Diversity in Boardrooms to evaluate not just expertise and experience, but also the individuals’ thought process, background, leadership, and ethnicity.
Step Six: Action – Presenting Short List to Client
Diversity in Boardrooms facilitates the meeting of candidates on the short list with the client, following up with each party and providing feedback.
Step Seven: Closure – Matching Candidate with Board
Closure of an assignment is the most challenging part of a strategic search to assemble a diverse board of directors. This is where Cindy Burrell’s more than 20 years of successful executive recruitment makes a difference. Closing the assignment means understanding fully the candidate’s strengths (both tangible and intangible) that are specifically important to the company’s board. It also means developing a relationship with the candidate to understand his or her reasons for wanting to join this particular board of directors.