What we heard from directors.

• Author: Hayes, Amy
• Position: DIRECTORS TO WATCH

A recent study by Russell Reynolds Associates gathered opinions and statistics from a significant cross section of serving board members about the topic of diversity of perspective, both in general and in the specific case of gender. Respondents had strong opinions about the effect of bringing different perspectives to the board room, the qualities most sought in directors, and the paths that lead to the boardroom. Here is what we heard:

* Having a wide range of perspectives represented in the boardroom is critical to effective corporate governance. Having multiple views on the possible outcomes of any action makes for a decision-making process that is more likely to take into account the various risks, consequences and implications of possible actions. "Increasingly, boards are in a fishbowl of scrutiny from investors, the media, non-governmental organizations and so on. The problems that boards are grappling with are too hard for any one person to figure out," one director told us. Another director observed that, "You want directors to have experience in dealing with risk from many angles because you don't know where your risk is going to come from. Having directors from very diverse backgrounds really helps."

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* Being able to draw upon a diverse set of competencies and knowledge is essential if boards are to successfully address the complex issues their companies face. A board needs to draw upon a range of experiences in understanding opportunities, anticipating challenges and assessing risks. Rarely does a right or wrong answer exist for the many issues a board faces--particularly in an environment where silos defining industries are breaking down, constituencies are globalizing, the effects of technology are accelerating, and risk presents itself in new ways. With these lines blurring, having multiple views on the possible outcomes of an action results in a more thoughtful decision-making process.

* Boards become more appreciative of having a broad perspective as they accumulate experience in dealing with it. "Diversity and inclusion are not just the right thing to do but are important to the business agenda," said one director. "Boards are at their best when there is diversity of culture, thinking and perspective." All directors reported that constructively challenging the status quo is healthy. As one woman director with more than two decades of board service recounted, "I helped people move from the notion of...