Entrenched social norms, patriarchy, weak policy implementation and enforcement, data gaps and lack of accountability are adversely affecting boardroom diversity.
Dean, Lagos Business School, Prof. Olayinka David-West, said this at this year’s second edition of the new members induction ceremony of the Chartered Institute of Directors (CIoD) Nigeria.
Speaking on ‘Diversity in the Boardroom: Moving beyond Tokenism’, she observed that existing diversity policies or quotas often lack effective enforcement, while unconscious bias and traditional recruitment practices favour candidates who resemble existing board members.
Giving insights into the current landscape, she said with 33 per cent of women in the workforce, only 20 per cent occupy executive roles. She noted that young professionals and women are underrepresented in boardrooms.
Citing between tokenism versus true inclusion, she said tokenism means symbolic appointments and limited influence, while true inclusion entails empowered voices, real participation, influence and decisions. She criticised how deep-seated cultural expectations and gender roles have reinforced male dominance in leadership.
To address the challenge and ensure inclusion, David-West emphasises the need to establish clear, quantifiable goals for diversity and inclusion, and regularly monitor that the metrics ensure accountability and continuous improvement.She called for more investment in mentoring, training, and leadership development programmes to prepare a broad pool of qualified, diverse candidates ready for board roles.
“Go beyond visible diversity by assessing and incorporating different thinking styles, experiences and problem-solving approaches to enhance board effectiveness,” she said.
President and Chairman of the Governing Council, CIoD, Adetunji Oyebanji, said tokenism, by its very nature, puts an undue burden on the ‘token’ individual to represent an entire demographic, often without the genuine power or influence to drive real change. He charged the new inductees to remain steadfast and focused in their support of the growth and development of the institute, as well as the adoption of ethical and sustainable business practices across all stakeholders.
He shared how the institute has continued to demonstrate a greater concern and commitment to working with all stakeholders to foster a business-friendly environment for robust economic growth.
“We have continued to canvass for good corporate governance practices, including the adoption of sustainable business principles of all private and public sector organisations in the country, and we will continue to partner with all businesses and thought-leaders from both the public and private sector to push forward our innovative ideas for our collective benefits,” he said.
