Diversity, equity and inclusion is a phrase that is sometimes used with caution in the current political climate of the United States. But diversity as a business consideration was a key theme of a recent international address in Southeast Asia.
Diversity is a competitive advantage. That's not a new concept, but it's the message an Australian official brought to the 60th anniversary of Singaporean Independence.
Twenty years ago, Sam Mostyn served as the first woman commissioner of the Australian Football League, an appointment that brought her criticism and even threatening letters.
But when she helped create the AFL Women's League, it reached an untapped revenue pool.
After serving on various corporate boards, she's now Australia's governor-general, a largely ceremonial role, but one that gives her a platform for advocacy.
In Singapore, she urged more diversity on corporate boards, saying, “This is not some form of wokeness. It is actually about creating real, lasting value.”
The Straits Times reports more than 25% of Singaporeʻs 100 largest firms have women directors.
That trails Australia.
According to the Australian Institute of Company Directors, women make up more than 37% of corporate directors in companies listed on the ASX 300.
That's nearly 10% points higher than the United States, where the Conference Board says women make up 29% of corporate directors in companies listed on the Russell 3000 index.
