Just one in ten boards are performing well at guiding talent and leadership strategy, according to a report from the Women Corporate Directors Foundation (WCD).
Released this week, the report reveals that 90% of directors who responded believe it is the board’s responsibility to oversee talent and leadership strategy, but just 11% of those who responded believe it is work that boards do well.
The report, produced with executive pay consultancy Pearl Meyer, also revealed that only only 53% of the boards surveyed have standing agenda items related to company talent and/or leadership development.
“Strong leadership and a healthy culture may be the ultimate defining qualities of a successful company today,” said Susan Stautberg, chairman and chief executive of the WCD.
She added: “We believe it will help our membership and the board community at large recognize and mitigate culture-based risk and create leadership models that can be differentiators for their organizations.”
David Swinford, president and chief executive of Pearl Meyer, said: “The best business strategy cannot be successful without the right leadership, thoughtful talent development, and a culture that supports the organization’s goals.”