Recently, a fresh report unveiled that only 31% of board members in Fortune 500 companies are women. However this percentage is as low as 7% for non-white females.
It should be noted that out of a total number of 5,403 board members, there are more men at 69%. In approximately four cases out of five (78.5%), they are white. This week Mogul launched its Build Better Boards campaign, claiming to be the largest diversity recruitment platform for executives in the world by women and minority owners.
This survey indicates that no less than sixteen Fortune 500 firms lack racial minority representation on their boards; three have neither female nor minority representatives; and not even one Indian American man or woman is a director.
Despite being more than half the workforce, women make up just one-third of board members. The following statistics apply specifically to non-Caucasian females:
According to Tiffany Pham, Mogul founder, CEO and chairman of the board: “To date we haven’t gotten rid of all male boards in the Fortune 500 which shows how much work still has to be done”, “Mogul’s executive recruiting wing puts out quarterly ‘Top100’ lists that focus on diversity.”
“We conducted our new research after noting this about many top companies who need additional diversified executives such as females, disabled individuals and veterans along with different racial backgrounds,” explained Pham.
The earlier part of this year saw Heidrick & Struggles produce a report indicating more women were appointed to fortune 500 boards than ever before in history. It was last year when it was recorded that an increase had taken place compared with only41%of all filled board seats held by women.