Deloitte has reported that the composition of boards it has surveyed in the US is changing, with more true diversity of backgrounds, experiences and perspectives.

The 11th edition of the Board Practices Report issued by Deloitte’s Center for Board Effectiveness and the Society for Corporate Governance, reveals emerging governance initiatives across boardrooms that are having a significant impact in key areas such as culture, talent, strategy, risk, technology and innovation.

Nearly half, 42 per cent, of boards are increasing focus on corporate culture as it pertains to their company’s strategic priorities. The top ways boards evaluate and participate in the company’s culture are through hotline reports (78 per cent), findings from investigations (68 per cent) and cultural surveys (58 per cent).

Industry-specific experience topped the list of board recruitment priorities. Other sought-after professional experiences included: business leadership; accounting; digital or technology strategy; cyber; and information technology. While other types of professional experience, such as marketing and HR, may be underrepresented on boards (and could contribute to diversity), they do not seem to be gaining traction as standalone recruitment priorities.

In January, Deloitte’s Center for Board Effectiveness also released its Missing Pieces Report showing the number of Fortune 500 companies with greater than 40 per cent diversity has more than doubled since 2012.

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