The Importance of Board Diversity

When one person’s expertise and passion can both complement and act as a counterpoint to those who share their goals, they can make a huge impact on an organization.

Fuelled by her expertise as a chartered psychologist and teacher in the UK, Liz-Bailey Connor stands in the centre of such a synergy with her fellow Langley Community Health & Hospital Foundation (LCHHF) board members.

In her capacity as Chief People and Culture Officer at First West Credit Union, Bailey-Connor champions equity, inclusion and diversity as vital ingredients to the success of the organization.

And in her role on the Foundation board, she says she thrives in a space where diversity and differences are welcomed and utilized to make strong data-based decisions.

“We have financial professionals, medical experts and individuals with marketing and real estate development expertise. It’s so very diverse, and every meeting is an opportunity to learn a new perspective.

“I enjoy hearing advice based on colleagues’ industry; for example, when discussing health care issues, hearing facts and data directly from our medical board members is insightful.”

A resident of White Rock, Bailey-Connor has forged strong community ties in Langley through her work at First West and her family’s leisure time spent in the area.

She’s well aware of the challenges facing the LCHHF board, such as evolving needs and opportunities in health care, escalating costs, economic challenges in a growing community and the need to welcome and strengthen relationships with new and current donors.

To address these challenges, the LCHHF board leverages its diversity as its best tool. Encouraging and celebrating differences in gender, race, age, expertise and professional background serves as a safeguard against homogeneity, irrelevance or groupthink that could stifle organizational progress.

Research from McKinsey and financial partners supports this approach. In 2021, they released studies that prove board diversity predicts positive financial results, a healthier company culture and improved operating performance, compared to homogenous boards.

In 2021, the Canadian government launched its “50-30 Challenge,” urging organizations to strive for 50 per cent gender parity and 30 per cent representation of underrepresented groups, including racialized persons, people with disabilities and members of the LGBTQ2+ community.

“For diversity to work, everyone needs to feel included and valued,” she adds. “No one should be left behind.”