Search firms team up with Diversity Action Committee in bid to boost board diversity

This collaboration is the first of its kind.

Singapore’s Diversity Action Committee (DAC) has teamed up with five leading executive search firms - Egon Zehnder, Heidrick & Struggles, Korn Ferry, Russell Reynolds Associates and Spencer Stuart – to produce a set of identified best practices for board appointments supportive of gender diversity.

The Statement advocates that search firms first consider the existing strengths of the board and define the complementary capabilities required to serve the corporate strategy.

It encourages boards to widen candidate pool to include top calibre and diverse candidates, including women. Particular attention should be paid to candidates with relevant experience in emerging industries and areas of specialisation.

The Statement also emphasises the importance of comprehensive induction programmes for new directors and post-appointment follow-up with the whole board in order for companies to benefit more fully from board diversity.