The initiative, called BoardConnections, has been developed in response to needs expressed by Michigan CEOs for better access to qualified board candidates from diverse backgrounds. Its goal is to help retain Michigan’s top female executive talent while addressing new Securities and Exchange Commission rules that require companies to report on their efforts to recruit diverse boards of directors.
“Global companies today need strong business leaders to be competitive, and career-enhancing opportunities like board service can play a vital role in retaining a diverse talent base in states like Michigan,” said Charles “Chip” McClure, president and CEO of ArvinMeritor Inc. and a champion of the BoardConnections initiative. “We need to demonstrate to our top female executives that they don’t need to leave the state to have local and national board options open to them. To remain competitive, business leaders need to challenge the way we do things and make diversity a top priority. Diversity is more than doing what’s right; it’s doing what’s smart. Inforum’s approach engages business leaders in the process and offers us an efficient resource to help us expand our networks and thinking.”
Added Shari Burgess, chair of Inforum Center for Leadership and vice president and treasurer at Lear Corporation: “As the most prestigious women’s network in Michigan, Inforum has the scope and strategic foresight to develop a unique resource for business leaders throughout the country seeking access to qualified women board candidates. In addition, by expanding opportunities for women to include board service, we can help attract and retain critical executive talent in Michigan. BoardConnections is not just another training program but a sustainable process to expand these opportunities for women and enhance the diversity of public and private corporate boards over the long term through coaching, networking and informational programs.”
“BoardConnections was designed with CEO input which shows that most companies prefer to use traditional avenues – such as recruiters and networking – to find prospective directors,” said Terry Barclay, president and CEO of Inforum. “Our goal was to create a practical, collaborative approach to linking qualified women candidates into the existing selection process. Inforum Center for Leadership has invested more than $50,000 and two years conducting the background research and building the national coaching connections necessary to make the initiative a success.”
What BoardConnections Will Do; Why It’s Needed
BoardConnections is designed to help prepare women for corporate board service – today and in the future – through a combination of strategic board readiness coaching and networking for senior executives, and interactive, informational BoardBasics workshops for professionals at all stages in their careers.
“Many very qualified senior women in Michigan lack an efficient way to frame their experience and create a network that is focused on corporate board opportunities,” said Nancy Hickey, a board member of Inforum Center for Leadership as well as senior vice president and chief administrative officer at Steelcase Inc. “Inforum’s BoardConnections programs provide a framework in which women can explore and fine-tune their board-ready skills and connect with influential corporate executives and directors.”
Citing the need for a more robust pipeline of qualified women board candidates, Terry Barclay added: “Women make up at least half of the overall workforce, but they represent only around 10 percent of the board seats at Michigan public companies. Inforum has been tracking this trend since 2003 through the Michigan Women’s Leadership Index and the percentage of women in board roles has basically remained unchanged since that time. During that same period, a growing number of studies show that companies with women in leadership positions perform better in the marketplace than those with lesser representation.”
Oct. 26 Kick-Off Event
The first BoardBasics workshop will be held on Oct. 26, from 5:30 p.m. to 8 p.m. at the Townsend Hotel in Birmingham. The BoardBasics program will feature a panel discussion with serving board members and legal and financial experts discussing what it takes to be on a corporate board today.
“The workshops are designed to get women thinking about board service now and to make career choices that can enrich their skills and experiences, enhancing their attractiveness as candidates down the road,” said Mary Brevard, executive director of the Inforum BoardConnections initiative.
More information and registration for the Oct. 26 workshop is available online. Click here for more details.
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