Skip to content

31 May, 2023

Subscribe Advertise About Us
  • My Account
  • Register
  • Log In
  • Log Out

Board Agenda

  • Governance
  • Strategy
  • Risk
  • Ethics
  • News
    • Categories

      • View All
      • Board Moves
    • ESG battle

      ‘Change fiduciary laws’ to end ESG battle in US

      Academics suggest a truce between left and right, based on separating political issues from investment...

    • McDonald's antibiotics News round-up: this week in governance

      Investors challenge McDonald’s over antibiotic use; Norges Bank’s ESG push criticised; diversity box-ticking; revolt at...

    • boost audit Corporate governance code review boosts internal controls

      UK watchdog’s proposals include giving audit committees greater reporting responsibilities and addressing ‘overboarding’.

  • Insight
    • Categories

      • View all
      • Governance
      • Strategy
      • Risk
      • Ethics
      • Board Expertise
      • finance
      • Technology
    • Climate finance

      How climate change alters the financial landscape

      To achieve sustainability, companies and boards will need to look not only to their operations,...

    • generative AI

      Five AI issues to consider right now

      We may not know what AI will mean for us all in the long term,...

    • sexual misconduct

      How to prevent sexual misconduct in your organisation

      Revelations about the CBI may be shocking, but there is no place for complacency and...

  • Comment
      • View all
    • hybrid AGM

      Hybrid AGMs maximise shareholder participation

      Avoid virtual-only annual general meetings: although pragmatic in an emergency, they water down shareholders’ rights.

    • ESG break up ESG: Should E and S break up with G?

      In the world of investing, maturity has revealed significant practical shortcomings in combining environmental, social...

    • controlling shareholders The politics and geopolitics of controlling shareholders

      Shareholders with a controlling interest influence not only financial matters but can also wield great...

  • Interviews
      • View All Interviews
      • Podcasts
      • Webinars
    • information resilience IT transformation sees boards moving to ‘continuous’ management

      Data analytics available on demand requires a resilient—and selective—approach to sharing information, a webinar panel...

    • life sciences podcast Reform of NHS levy ‘harms UK competitiveness’

      Boards in the pharmaceutical and life sciences sector face increasingly difficult decisions, according to a...

    • Board priorities 2023 Board priorities 2023: tact, trust and transparency

      We asked key figures what would help boards this year. The answers ranged from 'smarter...

  • Careers
      • View all
      • Selection
      • Board Moves
    • board survey 2023 Board appointments fell sharply in 2022

      Companies appear to be sticking with experienced leaders—to the detriment of progress—suggests FTSE 350 boardroom...

    • diversity statistics Diversity statistics challenged by new scorecard

      Companies can ‘hit the target, but miss the point’, say academics researching a more ‘holistic’...

    • CEO turnover CEO turnover rises steeply

      The researchers say political changes and business difficulties may have accelerated turnover, which has risen...

  • Resource Centre
      • White Paper Downloads
      • Book Reviews
      • Corporate & Advisory Services
    • Mazars c-suite 2023

      Mazars C-suite barometer 2023

      The Mazars C-suite barometer is based on responses from more than 800 C-suite executives from...

    • CFO Career Survey Report

      Our survey, in December 2022, of almost 200 CFOs across the public, private and non-profit...

    • The Engagement Appeal: The Path to Inclusive Investor Engagement

      The Engagement Appeal: The Path to Inclusive Investor Engagement

      The Path to Inclusive Investor Engagement highlights the need for greater engagement between companies and...

  • Events
  • Search by topic
    • Governance
    • Strategy
    • Risk
    • Ethics
    • Regulation
    • ESG
    • Investor Relations
    • Selection
    • Board Expertise
    • finance
    • Technology

Anti-social behaviour

by Patrick Dunne on August 1, 2015

Socio-economic diversity may present a more complex problem than gender or ethnic diversity, but it makes commercial sense to sort it out.

shutterstock_204774730
Diversity. Photo: Shutterstock

Gender has long dominated the board diversity debate, a focus that has delivered progress. Not enough, but imagine where we would be without it.

Sadly, progress on ethnic diversity has been slower and when it comes to the admittedly tougher area of diversity in terms of socio-economic background, it feels as if we have gone backwards.

This is reinforced by the Social Mobility and Child Poverty Commission’s latest study of 17,000 British children born in a week in 1970.

It measured their ability at five and found that less able, richer children were 35% more likely to become high earners than their brighter, poorer peers. Unsurprising perhaps, but unjust nevertheless and with implications for board diversity.

Why might we be going backwards?  Is it structural? Could it be the rise of private education and the end of the grammar school system, which although far from perfect, did produce a large number of “working-class heroes and heroines” across a broad range of leadership in society? Hold on though, aren’t more people going to university now than ever?

There is precious little hard evidence or informed discussion on this issue and it’s also more complex than gender. So, could it be a lack of attention or interest? Possibly.

Socrates said: “It is easier to win an argument than to make the right decision.” We are not even having the argument on this one, and frankly no-one really seems that bothered.

The value of grit in your oyster

We should be bothered. Why? Because it is the right thing to do and it makes commercial sense. We’re talking equal opportunity here as well as the value of having grit in your oyster, broader insights for decision-making and greater connectivity across a range of stakeholders.

It is much easier to build a board that looks right than is right. This is about diversity of thought, not appearances or accent.

I don’t subscribe to the “representative = picture perfect” approach to board building. It is much easier to build a board that looks right than is right. This is about diversity of thought, not appearances or accent. So, without taking our foot off the gender accelerator or falling prey to the divisive and facile “toff debate” in politics, we should up the airtime on socio-economic diversity in boards.

Doing this will involve more than recognising and respecting social difference. We can learn from the “gender” path, get the data, go out there and seek social difference and create more pathways, like the EY Foundation programmes, for those with potential who have lost out in the post-code lottery of birth. Role models also need to be open about their backgrounds, inspire and, as Kevin Spacey so brilliantly puts it, “Send the elevator back down.”

In summary, it is time to put an end to casual, everyday passive “anti-social” behaviour, recognise that this is a serious issue and start a proper debate.

Patrick Dunne is chairman of D3O and the EY Foundation.

  • Facebook
  • Twitter
  • Google+
  • LinkedIn
  • Mail

Related Posts

  • The diversity narrative: a strategy for improved performance
    April 11, 2022
    Diverse group of colleagues celebrating

    Research has shown a clear correlation between diversity and performance. How can organisations create their own diversity narrative?

  • The war for talent: creating competitive advantage through diversity
    December 7, 2021
    Magnet attracting diverse talent

    Companies that strategically invest in diversity and building an inclusive culture will become talent magnets in today's challenging market.

  • Directors' social networks reduce risk of corporate failure
    May 4, 2022

    Study says failure is less likely when a board’s “social network” is large, its managerial network small and its executive pay relatively low.

  • Corporate sanctions against Russia indicate a new level of social responsibility
    April 6, 2022
    Sign on a branch of a closed McDonald's in Moscow

    McDonald’s, IKEA, Apple are some of the well-known corporations making a stand against Russia. And this is about more than just good PR.

For thoughtful journalism, expert insights on corporate governance and an extensive library of reports, guides and tools to help boards and directors navigate the complexities of their roles, subscribe to Board Agenda

diversity, socio-economic diversity

Search


Sign up to our Newsletter

Receive independent news, thoughtful journalism & expert insights about leadership, corporate governance & key boardroom issues straight to your inbox every week.

SIGN UP

Follow Us

 

 

 

 

Most Popular

  • Corporate governance code review boosts internal controls
  • News round-up: this week in governance
  • New audit committee standards finalised
  • ESG: Should E and S break up with G?
  • Five AI issues to consider right now

Featured Partner Profile

Diligent

Diligent

Diligent Corporation, which was founded in 2001, is headquartered in New York, NY with a European HQ in London. Diligent’s modern governance platform empowers leaders and teams at every level of the organisation to digitally transform and create ...

Featured Partner Resources

The Engagement Appeal: The Path to Inclusive Investor Engagement

The Engagement Appeal: The Path to Inclusive Investor Engagement

This is the inaugural white paper from The Engagem...

Stakeholder Engagement: A Roadmap for UK Plc Boards

This guide aims to provide directors and their col...

Digital Boards: How Technology Adoption is Driving Culture Change and Resiliency

Digital tools proved their worth to boards during ...
Leadership in AI report

Leadership in AI

This report from Board Agenda and Mazars, in assoc...
Director's Guide to Internal Investigations

A Director's Guide to Conducting Internal Investigations

An internal investigation must be handled meticulo...
 

ADVERTISE – FREE CORPORATE LISTING

FREE - Add your company profile to our Corporate & Advisory Directory.
ADD

ADVERTISE – PROMOTE YOUR REPORTS & WHITEPAPERS

FREE - Add your company profile to our Corporate & Advisory Directory.
Add Resource

Register Free

Register to receive free article views, selected resource downloads, and all the latest news alerts straight to your inbox. Register


  • Editors & Contributors
  • Editorial Advisory Board
  • Corporate & Advisory Services
  • Media Marketing Solutions
  • Contact Us
  • Careers
  • Board Director Network
  • Terms & Conditions
  • Privacy Policy
  • Cookies
  • Sitemap
|