The efficiency of the boardroom is vital in maximizing board performance. It requires a clear and concise meeting structure, constant communication, and thorough preparation. It relies on a web-based portal that provides directors access to the materials for their meetings, and to share them with colleagues in real-time. It isn’t easy, particularly for boards that are a bit short on time due to shorter director terms and continuous recruitment.
In an OnBoard Webinar corporate advisors Max Franchitto & Tamara Barr shared strategies to ensure high efficiency in the boardroom. They discussed ways to increase engagement and encourage a broad range of perspectives and skills. They also discussed ways to improve the board processes and boost the performance of individual directors.
Certain boardroom dynamics could be detrimental to a board’s ability to practice an generative approach to governance. Lack of critical thinking and an excessive desire to find consensus could result in ineffective discussions and groupthink that could hinder the quality of decisions. The tendency to dismiss an idea without fully understanding its foundation can also lead to mistrust and compromise the effectiveness of a board.
To avoid these problems, boards should engage in open communication with all directors, and give them an opportunity to share their views and opinions. Boards can do this by encouraging constructive and informal director communications between meetings, providing opportunities for directors to meet common interests outside of the boardroom, and by incorporating “hang time” on agendas of meetings to allow new members to be introduced to their peers.
