he US census in 2021 stated that 18.7% (62 Million) of the US population identified as Hispanic or Latino or with Hispanic/Latino origins. Hispanics/LatinX are the second largest ethnic group in the US, or in the case of states such as California or Texas even the largest. According to Pew Center, an independent organization based in Washington, DC, that amounted to almost 40% (15.8 Million) of the population in California.
However, at governance/board room level we continue to see Hispanics/Latinos to be the least represented group. This is noticeable across boards irrespective of whether they are non-profit, public or publicly traded private companies. According to Board Source’s Leading with Intent in 2021 only 5% of non-profit board members were Hispanic or Latino in the US. In California, only 4% Hispanic or Latino serve on public boards despite the ethnic group making up almost 40% of the population. The 2021 Latino Board Monitor states that only 4.1% of corporate board seats were held by Hispanics or Latinos. Hispanic or Latino women only made up 1%! Hispanics/Latinos contribute 28% to the US GDP and if the Hispanic/Latino population of the US were an independent country their GDP would be the world’s 7th largest, before countries such as Brazil or Italy.
Boards need to do better when recruiting and creating pipeline for future board members and can take several steps to become more aware and intentional about inclusive board practices to make their governance level reflective of society.
Firstly, boards ought to conduct a board audit and competency audit on a regular basis to capture the diversity presence or absence. We have developed a helpful short quiz to assist in this process.
Next, boards must adopt a more transparent and equitable recruitment & succession process. We have created a platform to assist organizations to publish their board vacancies and for individuals to find board appointments.
Last, boards who want to become more aware about their board diversity, board recruitment and onboarding best practices are invited to reach out to us for support.