Minority directors are usually selected by the existing board of directors in order to have an overall view in any situation rather than narrow focused view. For ex in a board which is compromise of only male directors female directors are usually selected in order to have a view of female in important strategic decision. The board must have all sorts of members in its panel in order to view any situation from all different points of view. The primary function of these directors is to bring in a wide perspective of any situation that the board may face. The various stages in electingminority directors are
Writing down the requirement is the first stage in any selection process. The company managers must write down the various requirements that they expect from the minority director. The requirement includes record of success in other company or within the same company, commitment towards the work, event handling, risk taking nature etc are some of the qualities that company usually prefer other than the basic educational and work experience.
Networking is the major problem in the selection of minority directors. This is because the minority usually has a very less network. It is therefore time consuming and money consuming to find minority directors using this method. The best way to source for such person is by engaging a specialist executive recruitment consultant can be appointed.
The business media can be used as a important source of information about the desirable candidate. The business media often publish the news report about such person. The company can approach such eligible person using its network.
Conducting the personal interview is the final stage in any interview process. In case of minority director selection the board must make sure they select the appropriate person for the post. This can be done only through personal interview process.
Reasons for selection of minority directors are,
Most of the minority managers are from strong academic background. The industrial experience gives them the exposure that they need. Appointing such minority managers bring in dynamic phase into the industry. They bring in perspective which is altogether different from those normal professional managers.
Young minority managers have broken into the top rank in big MNC. The prime reason being that they got fresh ideas that can be implemented to run a successful business.
They bring in out of box view to most of the situation which helps the development of the company to a great extend.
Write some of the important factors that lead to the employment of minority directors?
What are the various steps followed in recruiting the minority managers?