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Webinar - Board Diversity: The 2023 Index and Practical Solutions

“We are not there yet and we are not getting there fast enough” – Megan Motto, CEO of the Governance Institute of Australia

“What gets measured gets done” - David Evans, Managing Partner of Watermark Search

“The low risk hire could become the high risk hire” – Mark Baxter, co-founder of the Australian Association of LGBTQ+ Board and Executive Inclusion (ALBEI)

“Getting more people around the table so there are natural allies, that can make such a difference” – Linda Scott, Chair of CareSuper, Councillor of City of Sydney, President of the Australian Local Government Association

We are very passionate about diversity at Watermark Search. This is the ninth year we have released the Board Diversity Index where this year we have started to look at further types of diversity in ASX300 boards including First Nations, LGBTQ+, Disability and socioeconomic background –please download the 2023 Index here.

Further to the index, we want to promote the discussion and action in regards to diversity on boards and leadership teams. To help do this we recently held a webinar with guest speakers Megan Motto, David Evans, Mark Baxter and Linda Scott.

David opened the webinar by providing some of the key points of the 2023 Board Diversity Index and what areas we can improve on. Mark and Linda then spoke about how the Board Diversity Index figures mirror what is happening on the ground in their fields.

David then considered different ways we can search for great board members beyond those who have ‘done it before’. How can we reach those diverse candidates that would bring different mindsets and ideas to boards beyond those we already know? Mark spoke about the barrier of networking for aspiring board directors and Linda highlighted the benefits of having people with differing viewpoints and backgrounds on boards.

The panel then discussed the importance of reporting and setting targets to make sure underrepresented people are included on boards and provided some other suggestions on how to get board experience and skills such as board committees, board observers as well as personal development.

Megan highlighted some strong research showing the correlation between gender and diversity of boards and their performance which accentuates just how important this topic is.

Megan, Mark and Linda finally spoke about the importance of moving from just thinking through the lens of diversity to understanding how to build inclusion and psychological safety in the boardroom and then we finished on a beautiful story about having allies.

To watch the full recording, please see below:

Please download the 2023 Board Diversity Index here.