For directors seeking to promote diversity, equity, and inclusion (DEI) in their organizations, it’s a good idea to start at the top. The April issue of Tone at the Top, “Diversity: An Accepted Business Value,” provides strong evidence that promoting diversity is a worthwhile effort because a diversified organization offers numerous business benefits — from additional skills and measurable performance improvements to broadened perspectives and connections. The percentages are poignant and the data is a driving force behind a number of regulators and stakeholders setting new DEI rules or expectations for organizations.
The good news? We’ve outlined seven guidelines that boards can follow to enhance diversity. Keep in mind that internal audit can provide value throughout the process as the sole source of independent assurance within the company by performing holistic and objective reviews of the board and organization’s DEI efforts and their effectiveness.