Boardroom efficiency is key to maximizing board performance. It requires an organized and clear meeting structure, continuous communication, and a focus on thorough preparation. It relies on a portal that gives directors to access their meeting materials, and to share them with colleagues in real-time. These goals aren’t easy to achieve, especially for boards with limited time because of shorter director terms and constant recruitment.
In an OnBoard Webinar Corporate advisors Max Franchitto & Tamara Barr shared strategies to ensure high boardroom efficiency. They discussed ways to increase engagement and develop a diverse perspective and set of skills. They also discussed ways to improve the board processes and enhance individual director performances.
Certain types of boardroom dynamics are harmful to the capacity of a board to exercise an generative form of government. For example, an excessive desire to reach consensus and lack of focus on critical thinking can lead to unproductive discussions and groupthink that hinder the effectiveness of decision making. The tendency to dismiss an idea without understanding its true meaning could also create distrust and reduce the effectiveness of a board.
To avoid this kind of situation, it’s crucial for boards to be open in its communication and provide a platform for all directors to share their views and opinions. Boards can do this by encouraging informal and constructive director communications between meetings, offering opportunities for directors to meet common interests outside the boardroom, and by incorporating “hang time” on agendas for meetings to allow new members to meet their fellow directors.