Press Release : Much work still to be done to improve diversity on Singapore’s boards

Singapore, 26 January 2018 – The benefits of having a gender diverse board are widely acknowledged and well documented — from enhanced financial performance to increased trust from institutional investors, heightened investor confidence, stronger corporate governance and greater social impact.

The study “20 by 2020: Gender Diversity on Singapore Boards – A Path to Action”, conducted in collaboration between the Human Capital Leadership Institute (HCLI) and BoardAgender, highlights much-needed transformations in board processes that are required to advance the diversity agenda. Based on 41 in-depth interviews carried out with stakeholders from representative groups of companies of different industries and market, the study also suggests strategies that aspiring female directors can undertake to enhance the odds of their nomination and subsequent selection.

The study identifies four philosophical positions that boards tend to adopt towards the issue of diversity: The Resistive Denier, The Passive Onlooker, The Meritocracy Upholder, and the Conscious Champion, depending on their openness towards implementing a gender diverse board. To address the diversity challenge, the study suggests two fundamental transformations that boards must make to transit to becoming Conscious Champions.

To complete the Diversity Philosophy Profile survey, please click here.

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