Elevate Consulting Partners’ Post

A Decade of Data! We are thrilled to announce the release of the 2024 Board Diversity Index, a comprehensive investigation into the diversity landscape of ASX300 boards. Watermark launched the Index 10 years ago to advocate for improved diversity and inclusion on boards. Each year we have expanded the scope of our research to measure more types of diversity and we are so proud to share the longitudinal data, trends and insights with you today!  Some key findings: 🔹 Representation of women on ASX300 boards has risen to 36% (up from 35% in 2023). 🔹 Only 9% of directors are from non-Anglo-Celtic backgrounds. 🔹 Finance sector experience among board directors has risen to 40% – a level not seen since 2016 indicating a conservative approach in a challenging economic climate. To explore the complete 2024 Board Diversity Index, please download the report here - https://lnkd.in/ggTsdMiP David Evans Robert Atkinson Jocelyn Santosa Peter Blair Jen D'Arcy-Smith Chris Grant Claire Crawford Daniel Nicholls Philip Whelan Caroline McAuliffe Alex Brown Pip Westhoff Jacinta Whelan Donna B. Governance Institute of Australia #boarddiversity #diversity #asx #inclusion #gender #culture #skills #experience #tenure #age #independence #lgbtq #firstnations #disability #socioeconomicbackground

Our 2024 Board Diversity Index is here! Download the report here - https://lnkd.in/ggTsdMiP #boarddiversity #diversity #asx #inclusion #gender #culture #skills #experience #tenure #age #independence #lgbtq #firstnations #disability #socioeconomicbackground

There's a common perception that diversity in leadership is merely symbolic—a box to tick rather than a catalyst for real change. But there is plenty of research that challenges this notion. 👉 Gender Quotas and Disclosure Drive Change: Government policies, initiatives, and shareholder activism have pushed for diversity at the board level. 👉 Impact on Performance: Studies reveal that gender diversity isn't just about optics—it significantly boosts a company's financial and operational performance. 👉 Untapped Potential: Despite the evidence, the market hasn't fully priced in the benefits of diversity, offering an opportunity for savvy investors to capitalize on undervalued firms. Diversity isn't just a buzzword—it's a game-changer. Let's embrace it not just for the sake of appearances, but for the future prosperity and resilience of our organisations. To read more about diversity in ASX300 boards, please download the 2024 Board Diversity Index here - https://lnkd.in/gb6pGcQY #boarddiversity #diversity #asx #inclusion #gender #culture #skills #experience #tenure #age #independence #lgbtq #firstnations #disability #socioeconomicbackground #DiversityInLeadership #FinancialPerformance Alex Brown Pip Westhoff Jacinta Whelan Donna B. David Evans Robert Atkinson Jocelyn Santosa Philip Whelan Claire Crawford Daniel Nicholls Jen D'Arcy-Smith Chris Grant

Diversity shouldn’t be seen as a risk!   At Watermark, we think diverse talent should not be viewed as a risk but rather as an opportunity to improve decision-making processes with fresh perspectives and skills. We encourage boards to adopt diversity and meritocracy as complimentary strategies.   When we talk to clients, many directors and chairs often express concern about the perceived risk of hiring diverse directors who may lack experience in similar roles. We believe in seeking talent beyond the norm because our 2024 Board Diversity Index demonstrates how diverse boards drive innovation, strengthen customer relationships and promote inclusivity within organisations. Look at the talent on other boards outside the ASX300. Diversity is making a positive difference in government, not for profit, community and private company boards.   To read more about diversity in ASX300 boards, please download the 2024 Board Diversity Index here - https://lnkd.in/gU73MkKW   #boarddiversity #diversity #asx #inclusion #gender #culture #skills #experience #tenure #age #independence #lgbtq #firstnations #disability #socioeconomicbackground Daniel Nicholls Jocelyn Santosa David Evans Jacinta Whelan Donna B. Jen D'Arcy-Smith Philip Whelan Caroline McAuliffe Pip Westhoff Chris Grant Alex Brown Robert Atkinson

The 2024 Watermark Search International Board Diversity Index offers captivating insights into the composition of ASX300 boards. Here are the key findings on overseas directors: Over the years, directors based in Asia have experienced a significant decline, dropping from 13.9% in 2016 to a mere 10% in 2024. North American directors have been on the rise, increasing from 27.5% in 2016 to a robust 32.4% in 2024. Now, the intriguing question arises: Why does North America, traditionally not one of Australia’s largest trading partners, hold such representation on Australia’s top boards and Asia, who is, has very little representation? Dive into the full report here - https://lnkd.in/g8zaw5Tn #boarddiversity #diversity #asx #inclusion #gender #culture #skills #experience #tenure #age #independence #lgbtq #firstnations #disability #socioeconomicbackground David Evans Claire Crawford Caroline McAuliffe Jacinta Whelan Donna B. Robert Atkinson Jocelyn Santosa Alex Brown Jen D'Arcy-Smith Chris Grant Pip Westhoff Philip Whelan

A curious shift as Asia loses directors and North America gains. Intriguing insights from the 2024 Watermark Search International Board Diversity Index reveal a trend among ASX300 boards. Let’s dive into the numbers: Directors based in Asia have experienced a notable drop, declining from 13.9% in 2016 to a mere 10% in 2024. Conversely, North American directors have been on the ascent, increasing from 27.5% in 2016 to a robust 32.4% in 2024. Here’s where it gets interesting: North America isn’t traditionally one of our largest trading partners, Asia is. So why this representation on Australia’s top boards? Explore the full report here: https://lnkd.in/g67A3g6a #boarddiversity #diversity #asx #inclusion #gender #culture #skills #experience #tenure #age #independence #lgbtq #firstnations #disability #socioeconomicbackground Jacinta Whelan Donna B. Jen D'Arcy-Smith David Evans Daniel Nicholls Claire Crawford Robert Atkinson Philip Whelan Jocelyn Santosa Alex Brown Caroline McAuliffe Pip Westhoff

Despite Australia’s vibrant makeup, our boards lack the cultural diversity they should reflect. For an entire decade, Watermark’s Board Diversity Index has illuminated the cultural composition of Australian boards: Non-European Directors Double: Among ASX300 directors, those with non-European backgrounds have doubled, rising from 2.4% in 2017 to 6.6% in 2024. European Directors Decline: European directors decreased from 7.1% in 2017 to 2.2% in 2024. Anglo-Celts Still Dominant: Accounting for 90.5% of board positions in 2017 and 91.2% in 2024. Boards are missing opportunities by not recruiting directors from different cultural backgrounds. Considering the insights, different perspectives and cultural knowledge diverse individuals bring to a board can be a potent asset for Australian companies looking to expand overseas or to better serve communities at home. Explore the full report here – https://lnkd.in/gZBMm-DV #boarddiversity #diversity #asx #inclusion #gender #culture #skills #experience #tenure #age #independence #lgbtq #firstnations #disability #socioeconomicbackground Jacinta Whelan Donna B. Caroline McAuliffe Pip Westhoff David Evans Claire Crawford Daniel Nicholls Philip Whelan Chris Grant Jen D'Arcy-Smith Jocelyn Santosa

The 2024 Watermark Search Board Diversity Index provides a deep dive into the ASX 300 Board environment. With over 10 years of historical data the Index provides comprehensive insights into the changing environment that exists within ASX boards. Whilst we’ve continued to see positive progress for women on boards, up 89% since 2016, cultural diversity has unfortunately stalled! The percentage of board directors from culturally diverse backgrounds remains at 9%, unchanged from last year. Within ASX 201-300 companies the percentage of directors from a non-European background has dropped from 6% in 2022 to 3.8 % in 2024, and there has been no increase in the number of indigenous directors on the ASX (4). For a more detailed look into Watermark Search Board Diversity Index download a copy of the full report here. https://lnkd.in/giVHCZkc #boarddiversity #culturaldiversity #ASX #inclusion #skills #experience #tenure #age #independance #lgbtq #firstnations #disability #socioeconomicbackground David Evans Daniel Nicholls Claire Crawford Philip Whelan Jocelyn Santosa Chris Grant Jen D'Arcy-Smith Caroline McAuliffe Alex Brown Pip Westhoff Donna B. Jacinta Whelan

How can we move the needle on diversity in ASX300 Boards? For a decade, Watermark Search has tracked diversity in ASX300 boards through the Board Diversity Index. Download the 2024 version here – https://lnkd.in/gW4wsCQr Yet, the stats remain disheartening: 91% of directors are from Anglo-Celtic backgrounds, with an average age of 61, and 40% have finance and accounting roots. In a nation as diverse as Australia, why aren't our top boards reflecting this richness of perspective? It is well and truly time to embrace the power of diverse thought! We urge boards to collaborate with firms that can unearth talent aligning with your skills matrix while infusing fresh, diverse viewpoints. Having both on your board is possible! #boarddiversity #diversity #asx #inclusion #gender #culture #skills #experience #tenure #age #independence #lgbtq #firstnations #disability #socioeconomicbackground Jacinta Whelan Donna B. Jen D'Arcy-Smith Chris Grant Claire Crawford Daniel Nicholls Robert Atkinson Jocelyn Santosa Philip Whelan Alex Brown Pip Westhoff Caroline McAuliffe

While there has been a surge in the availability of products and investment opportunities focusing on environmental considerations such as renewable energy, clean technology, and carbon footprint reduction, there are fewer options for investors looking to incorporate social factors. The Morningstar Developed Markets LGBTQ+ Leaders Index represents a portfolio of companies diversified across economic sector and geography and rigorously screened for DEI inclusion, which can help investors achieve both social and investment goals. But how can inclusion be measured at the corporate level? ✅ Stated efforts and commitments ✅ Actively communicating support for DEI ✅ Backing global efforts against discrimination ✅ Encouraging employee resource groups ✅ Diversity and/or allyship among executive ranks and within corporate leadership Learn more by reading our in-depth paper here: https://bit.ly/4bzrtR7 #DEI #SustainableInvesting #LGBTQ+