Skip to content

29 March, 2023

Subscribe Advertise About Us
  • My Account
  • Register
  • Log In
  • Log Out

Board Agenda

  • Governance
  • Strategy
  • Risk
  • Ethics
  • News
    • Categories

      • View All
      • Board Moves
    • net zero plans

      Investors seek commitment to net zero planning

      Climate change campaigning investors have written to 107 companies, asking for prompt proof of net...

    • Mars ESG News round-up: this week in governance

      Mars CEO defends ESG and purpose; US president vetoes anti-ESG bill; trust can negatively affect...

    • ChatGPT technology Could ChatGPT technology join the board?

      Although governance may stop artificial intelligence replacing anyone on the board today, AI may soon...

  • Insight
    • Categories

      • View all
      • Governance
      • Strategy
      • Risk
      • Ethics
      • Board Expertise
      • finance
      • Technology
    • non-compete clause

      When employees become the competition

      How might you be affected by a global move towards the banning of employment contract...

    • data decision

      How to boost decision making

      Innovative digital tools can help boards to deliver against strategic objectives, but it is the...

    • remote working

      Navigating the new world of work

      Firms need to focus on building an inclusive environment and a culture of trust to...

  • Comment
      • View all
    • uncertainty in 2023

      Being a CEO in 2023: how to navigate uncertainty

      Agility, planning in the shorter term and bravery will all stand chief executives in good...

    • A week of business moving to the centre of human rights

      A week of events signals the initiatives underway to have companies play a central role...

    • audit reform IIA Why we need audit reform right now

      There is an "urgent need" for reform to the audit landscape as well as internal...

  • Interviews
      • View All Interviews
      • Podcasts
      • Webinars
    • life sciences podcast Reform of NHS levy ‘harms UK competitiveness’

      Boards in the pharmaceutical and life sciences sector face increasingly difficult decisions, according to a...

    • Board priorities 2023 Board priorities 2023: tact, trust and transparency

      We asked key figures what would help boards this year. The answers ranged from 'smarter...

    • Group of investors/shareholders in glass building Climate issues likely to figure prominently at next year’s AGMs

      A recent webinar heard that say-on-climate voting is expected to rise, while ESG remains a...

  • Careers
      • View all
      • Selection
      • Board Moves
    • female ceo Less than a third of FTSE 100 executives are women

      In Europe as a whole, only 7.7% of top companies’ chief executives are female, gender...

    • board size Performance declines as boards grow in size

      Researchers found that investment dropped by 2-3 percentage points as companies passed from 12 to...

    • Silicon Valley governance Silicon Valley improves its governance

      Big technology companies are stealing a march over other top corporates when it comes to...

  • Resource Centre
      • White Paper Downloads
      • Book Reviews
      • Corporate & Advisory Services
    • Diligent report

      Forrester: The Total Economic Impact Of Diligent Board & Leadership Collaboration

      Diligent Board Leadership & Collaboration reduced the risk of confidential material loss, supported decision-making, and...

    • Gender diversity barometer

      Barometer of Gender Diversity in Governing Bodies in Europe

      The 2023 Barometer of Gender Diversity in Governing Bodies in Europe looks at the 16...

    • geopolitical risk airmic

      Navigating geopolitical risk

      Today, the future feels less secure, and optimism is more restrained. Taking decisions in an...

  • Events
  • Search by topic
    • Governance
    • Strategy
    • Risk
    • Ethics
    • Regulation
    • ESG
    • Investor Relations
    • Selection
    • Board Expertise
    • finance
    • Technology

Board effectiveness in the new world of work

by Fiona Logan

Boards should use this post-pandemic period to reflect and reinvent themselves and their working practices.

Boardroom at sunrise

Image: Who is Danny/Shutterstock.com

Like so many things, the way company boards operate was impacted by the pandemic. Previously, extensive debate, hierarchy and heavy governance might have been par for the course. However, the pandemic forced boards to work in new ways—or face possible ruin. In many ways, this was positive, as Covid acted as a leveller with directors and executives forced to establish new ways of working together, discarding layers of bureaucracy and enabling agile decision-making.

However, moving into the new world of work, boards must strike a clever balance. We must not let old hierarchies or inefficiency to creep in and it is essential that boards move forward, embracing new ways of working and learning from the pandemic experience. Around our board tables we must engage in a meaningful exchange of ideas maintaining strong relationships between board directors and operational senior leaders and focus on fostering an environment of support, inspiration and care, as top talent is in fierce demand.

There is an opportunity for boards to reflect and reinvent themselves

Whilst appropriate governance remains a core function of the board, without addressing the opportunities of this new world of work intentionally, there is a danger that board meetings remain a carefully architected show—where board directors fall back into patterns of lazy scrutiny, senior leaders seek only to have their proposals rubber-stamped, strategy is a desk-based exercise for a select few and performance measurement is predictable. This is disempowering for everyone involved and puts the organisation at risk when the competitive environment is as challenging as it has ever been.

There is an opportunity for boards to use this post-pandemic period to reflect and reinvent themselves and their working practices to ensure they are serving our organisations in the best possible way.

I am fortunate to sit on the Insights board, working closely with our founders, shareholders and fellow leaders to help realise our vision and purpose. As such, we are particularly mindful of retaining our learning from the past two years and ensuring we apply it to strike this fine balance as we move out of crisis mode and into the new world of work.

Four elements for board effectiveness

There are four essential elements, underpinned by self-awareness, that must be in place, and working effectively, for boards to thrive as we move into the “new normal”. These principals are based around our team effectiveness model and have particular resonance given the balance boards need to strike.

Climate
Boards made up of people with high levels of self-awareness, who understand their unique personality preferences, and can understand and relate to others, help produce the best climate and enjoy higher levels of trust and engagement.

Additionally, proactively harnessing diversity in the team creates the opportunity for new ideas and different perspectives, which can unlock creativity and innovation. It is incumbent on the chair to ensure senior leadership and the organisation is appropriately governed yet strive to create a climate of encouragement, care and support. Executives and senior leaders have more choice than ever with attrition rates sky rocketing, so creating positive, empowering and inspiring board environments will be a vital element of organisational success.

Focus
All teams need to be aligned and clear on their goals and remit, with individuals sure on their role and the contribution they can make. Boards are no different. Additionally, different people respond to goals in different ways. It is important to spend time together as a board, developing an inspiring vision, a coherent strategy and with clear goals and measurement which can be easily communicated to the organisation. This is a vital component of the leadership of a company and a board with a strong, well-communicated focus is a powerful force for good.

Process
High-performing boards will be built on strong processes, with clear methods of working. That’s because when processes are clear, everyone knows what is expected of them, is working to a similar standard and can focus firmly on the horizon. Understanding and articulating what the appropriate level of governance is for the organisation, ensuring enabling processes are in place and working with leadership to establish these together can really help ensure that there is alignment at the top of an organisation on key processes.

Flow
How a team works together—or flows—is an essential ingredient in its overall success. Boards that interactive positively and work well together are more likely to achieve common goals. Taking the time to understand each other’s personalities, skills and experiences, listen to personal experiences and points of view, empathise, and respond authentically helps to maintain flow. When a board is in flow the whole company benefits as this radiates out to the organisation and fosters a culture which attracts talent and generates great results.

What will successful board meetings look like?

For boards to be successful in the new world of work, members must retain the skills which have helped to steer many companies through the pandemic. Agility in decision making, constructive challenge and debate, expecting and encouraging an open exchange of ideas will be central as we move forward.

Investing in self-awareness can help to make board meetings more successful—because self-awareness is the foundation upon which everything else is built. Self-awareness helps you understand your strengths and any potential blind-spots; where and how you can add most value; how to challenge appropriately; and how to turn your ideas into new realities. A self-aware leader is also in turn more aware of others, more aware of how to adapt personal style to make more meaningful connections with others, create more effective ways of working and achieve better business outcomes.

Board meetings should be an opportunity for personal and organisational development

Board meetings should be an opportunity for personal and organisational development—where everyone brings their unique perspective and personal contribution, and everyone goes away having learned something new and, as a result, the business flourishes.

Finally, humanity and compassion are crucial to board success, especially when the hard work of scrutiny, governance and strategic decision-making are pillars of the board agenda. Boards—as with any team—work best when relationships are invested in and nurtured. This means ensuring the brilliant human skills of resilience, creativity and collaboration are properly considered and catered for, alongside personal preference and need.

Fiona Logan is chief executive of people development company Insights.

  • Facebook
  • Twitter
  • Google+
  • LinkedIn
  • Mail

Related Posts

  • Ian Dyson named as new chair of the board at Asos
    October 15, 2021
    ASOS package

    Nick Beighton will be stepping down as CEO of the online fashion retailer, while Jørgen Lindemann joins as non-executive director.

  • A remixed roadmap for the future of board leadership
    October 18, 2021
    Team climbing a mountain using collaborative leadership

    A recent report identifies the need for a new governance model that reflects the changing responsibilities of boards and their leaders.

  • Elliott Advisors calls for restructuring of the SSE board
    December 7, 2021
    SSE logo on website

    The hedge fund has questioned the adequacy of SSE’s corporate governance and criticised the board's “notable lack of renewables expertise”.

  • Battle of the boards: risk, ESG and two-tier board structures
    April 22, 2022
    Board risk meeting

    There is an inherent conflict of interest between main and executive boards, with two different time horizons and two different risk impacts.

For thoughtful journalism, expert insights on corporate governance and an extensive library of reports, guides and tools to help boards and directors navigate the complexities of their roles, subscribe to Board Agenda

board decision-making, board effectiveness, board expertise, board strategy, corporate governance, Fiona Logan, leadership

Search


Sign up to our Newsletter

Receive independent news, thoughtful journalism & expert insights about leadership, corporate governance & key boardroom issues straight to your inbox every week.

SIGN UP

Follow Us

 

 

 

 

Most Popular

  • Could ChatGPT technology join the board?
  • Larry Fink puts focus on finance and inflation
  • Call for FTSE 100 companies to give guidance on ethics
  • News round-up: this week in governance
  • ESG resilience requires leaders to manage without certainty

Featured Partner Profile

Diligent

Diligent

Diligent Corporation, which was founded in 2001, is headquartered in New York, NY with a European HQ in London. Diligent’s modern governance platform empowers leaders and teams at every level of the organisation to digitally transform and create ...

Featured Partner Resources

2022 AGM Season Forecast: An Eye on The Horizon

To help prepare for AGMs in 2022, Equiniti (EQ) hi...

Stakeholder Engagement: A Roadmap for UK Plc Boards

This guide aims to provide directors and their col...

Digital Boards: How Technology Adoption is Driving Culture Change and Resiliency

Digital tools proved their worth to boards during ...
Leadership in AI report

Leadership in AI

This report from Board Agenda and Mazars, in assoc...
Creativity in a Crisis: a Boardroom Map for Innovation

Creativity in a Crisis: a Boardroom Map for Innovation

In the uncertain times at the height of any crisis...
Board Directors Guide to D&O Liability Insurance - November 2020 - AIG & Board Agenda

Board Directors' Guide to D&O Liability Insurance

Directors face liability over a range of new threa...
Leadership-in-Risk-Management-Board-Report

Leadership in Risk Management: Board Report

Board Agenda, in association with Mazars and INSEA...
Director's Guide to Internal Investigations

A Director's Guide to Conducting Internal Investigations

An internal investigation must be handled meticulo...

 


 

ADVERTISE – FREE CORPORATE LISTING

FREE - Add your company profile to our Corporate & Advisory Directory.
ADD

ADVERTISE – PROMOTE YOUR REPORTS & WHITEPAPERS

FREE - Add your company profile to our Corporate & Advisory Directory.
Add Resource

Register Free

Register to receive free article views, selected resource downloads, and all the latest news alerts straight to your inbox. Register


  • Editors & Contributors
  • Editorial Advisory Board
  • Corporate & Advisory Services
  • Media Marketing Solutions
  • Contact Us
  • Careers
  • Board Director Network
  • Terms & Conditions
  • Privacy Policy
  • Cookies
  • Sitemap
|