84. Optimal Diversity in the Boardroom with Dr. Keith Dorsey

In this episode of On Boards, Dr. Keith Dorsey an executive coach, author, active board member, and expert in leadership development and corporate governance. joins hosts Joe Ayoub and Raza Shaikh  His book, The Boardroom Journey: Practical Guidance for Women to Secure a Seat at the Table, provides insights and strategies for women aspiring to become board members.  Keith holds a doctorate in Organizational Change and Leadership from the University of Southern California and serves on multiple boards including Vimly Benefit Solutions, Pacific Crest Trail Association and Pepperdine University's Graziadio Business School. He discusses his research-based concept of "optimal diversity," which couples demographic diversity and diversity of thought.  His work has been widely published including the Harvard Business Review, MIT Sloan Management, Forbes and Fast Company.    Key takeaways 1.Keith's life in 3 chapters Keith started his career in the U.S. military and the Air Force, followed by nearly 30 years working in corporate America. In 2019, he went back to school to get a doctorate in organizational change in leadership from the University of Southern California. Now, he serves as an executive advisor to lead corporate leaders to optimize boardroom practices.  2. What is optimal diversity? While getting his doctorate, Keith started to research the lack of gender and ethnic diversity on corporate boards. He discovered the concept of "optimal diversity" - the combination of observable diversity and/or demographic diversity along with diversity of thought. This idea encourages people to reflect beyond their observable traits and dive deeper into how their lived experiences and perspectives can contribute to diversity.    3. Pre-vetting: It's about who knows you, not who you know  Keith found through his studies that executives who serve on boards, were very often seated through their network. When it comes time to recruit another board member the question that is often asked is: "who do we know." When it comes to joining a corporate board, it's about who knows you and understands your experience and skills. In addition to giving your "autopilot intro" while networking, he encourages aspiring board members to take a few extra seconds to go beyond the details of your day-to-day job and tell them what you're looking to do.     4. Five different "capitals" Keith's book dedicates a chapter to each type of capital: human, social, cultural, director, and commitment. During his research, Keith found that women often take the approach of presenting themselves as exceptional executives but not as exemplary board members. He encourages people to optimize their human capital. During board interviews, exhibit the type of behavior that they would want to see in the boardroom.   Quotes  " Optimal" diversity forces people to really reflect and to think about the things that make who they beyond just their observable demographic traits, including their lived experiences.   "It's best to look out the front windshield and be able to say what's beyond that S-curve and that sharp right curve ahead by asking thought provoking questions based on your human capital…instead of looking through the rear-view mirror and shouting your praises."   " Figure out who you are and what your superpowers and secret sauce actually are and then incorporate that in a way of getting your name out there so more people know you than you know"   Links https://www.boardroomjourney.com/ The Boardroom Journey: Practical Guidance for Women to Secure a Seat at the Table How Board Sourcing Approaches Contribute To The Corporate Diversity Problem—And What To Do About It   Guest Bio Dr. Keith D. Dorsey is a researcher, author, advisor, and active board member focused on issues of diversity, governance, and strategic growth for private and public corporate boards. His recent research examined women executives' pathways to securing corporate board seats, yielding powerful insights about the barriers and facilitators unique to women candidates seeking these positions. His book, The Boardroom Journey: Practical Guidance for Women to Secure a Seat at the Table, combines his research insights with his extensive executive, board, and industry experience. He speaks on topics related to governance and navigating the path to the C suite and boardroom. As an executive advisor, he is focused on increasing Optimal DiversityTM within corporate senior management, executive, and board-level roles.