Is your governance board struggling to understand your consumer base? Having trouble staying on top of the latest trends in tech and employment? One author suggests that the answer may be generational diversity.
In an op-ed for Forbes, Avery Blank argues that adding Millennials to governance boards can significantly benefit corporations.
According to Blank, from a strategic planning perspective, Millennial board members make perfect sense. She writes, “Call it risk management or a security, succession, or organizational resiliency lens. The knowledge and perspective of millennials are critical to an organization’s existence.”
Blank points out that the dialogue on boards is further ahead on the question of gender diversity. Over the last number of years, corporate governance boards have recognized the value that women bring to the table. Now we need to expand our definition of diversity to include Millennials, too.
Adding a Millennial member to a board is not without precedence. Blank references the case study of Starbucks, which boasts a Millennial member in the form of 34-year old Clara Shih, CEO of Hearsay Social.
Blank concludes that, as Millennials, we need to stand up and demand a place at the table. With an estimated $200 billion of direct purchasing power, we have a compelling case to make.
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Millennial board membership is only one way your business can better understand Canada’s largest and most influential consumer group. For assistance evaluating your company’s Millennial appeal to employees and customers, learn about our Millennial Audit.