Boards Are Stretched Right Now. So How Can They Mitigate The Impact?

Company Boards are the go-to for organisations to help guide the whole team, in time of trouble and challenges.

But what about boards themselves?

From the coronavirus crisis to rapid societal changes, from the increasing importance of ESG considerations to cybersecurity threats, to supporting their clients, their staff and each other, Board members are stretched.

So what can they do to mitigate the impact?

Do some scenario planning - the classic "what if...?" exercise.
Boards will regain a sense of presence of knowledge and skill and more importantly to the wider team, cohesiveness.

Create a company people really want to work for - don't assume people need a job, but that they want a job, a role that inspires, that makes them want to be highly productive.

Revisit and review the organisation's cyber security policies - ensure they are in line with the new ways of working and the increasing reliance on BYOD and remote and hybrid working. Boards feel the company is less exposed, teams feel the company has their back. It's a win-win.

Lastly, revaluate shareholder and stakeholder priorities. Determine who will be best-positioned to engage directly and focus on relevant talking points and potential topics that will cause them concern. And then do some out-reach.

Boards who take control of their narrative and communicate frequently and without jargon or fluff, will not only minimise the many risks at play, but will add value to their organisation and enhance their board performance.

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