Dear Executive Board: Do Something Different – Go Diverse

“Exceptional circumstances require exceptional leaders. Now more than ever, as companies examine how best to weather an economy in crisis, we need talented business leaders, and many of these leaders, yet untapped, are women,” said Ilene H. Lang, President & Chief Executive Officer of Catalyst.

If you always do what you’ve always done – you will always get what you’ve already got. What we already have is growing disillusionment and distrust of our business leaders and corporations. Even those who have not loss their jobs are disgruntled or at the least have a mounting concern about not just who is leading us in the workplace but how they are doing it. Businesses want employees who are loyal, dedicated and willing to go the extra mile. To make that happen, employees need leaders who have integrity, a compelling vision, and who are quick and clear in communicating their strategy for getting pass the current economic crisis. I’m hoping that part of their strategy includes doing something different when it comes to who’s leading in the boardroom.

Catalyst, a leading non-profit focused on building inclusive workplaces for women and businesses has been a strong voice in getting the message out about women in leadership positions. Last year they released two reports: the 2008 Catalyst Census of Women Board Directors of the Fortune 500 and the 2008 Catalyst Census of Corporate Officers and Top Earners of the Fortune 500. The two reports highlight the fact that despite a desperate need for change in corporate leadership, there has been very little change of the faces representing the top tiers of management in Fortune 500 companies.

Here are some numbers specifically about women in board director positions in the F500:

• Women held 15.2 percent of board director positions, compared to 14.8 percent in 2007.
• Women of color held 3.2 percent of all board director positions.
• Little change occurred in the number of companies having zero, one, two, or three or more women directors, and the slight increase in companies with three or more women was offset by the slight increase in companies with zero women.
• The number of women audit and compensation committee chairs continued to lag behind the overall representation of women board directors, even as women’s share of nominating/governance committee chairs continued to keep pace with their share of all directorships.

If companies want their bottom line to change, maybe they should start by making changes at the top. Einstein defined insanity this way:  doing the same thing over and over again and expecting different results. We seemed to get it about the environment with many companies proudly boasting that they are “Going Green.” Where are the companies that get it about women in leadership roles? I look forward to hearing a company boast about “GOING DIVERSE”!

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