Effective Strategic Board Engagement for Senior Executives

We’re in the midst of a highly disruptive era, one that is changing the U.S. and the world’s business landscape completely from what it was just five years ago. As a senior executive, your ability to create a collaborative and productive relationship with your company’s board of directors is more important than ever as you take hold of opportunities, navigate challenges, and create long-term success for your company.

Transparency: Your Foundation for Effective Board Engagement

Building open, interactive communication with the company’s board of directors is the foundation for successful engagement. Board members today expect open, proactive, and frequent dialogue with a business’s leadership. 

To create and maintain a strong relationship with the board, consider the best practices listed below:

• Proactive communication: Update the board regularly. Don't wait for the next board meeting to share important information, whether updates are on plans, developments, challenges, or opportunities.
• Candor: Establish and maintain a foundation of trust. Share the company's strategies, risks, and performance openly, whether the news is positive or challenging.
• Seek input:  Always seek guidance on strategic initiatives from the board. Board members possess diverse perspectives, experience, and knowledge and will offer valuable insights.
• Problem-solve together: Hold issue- and problem-solving sessions and retreats with your board. Tackle complex issues together.
• Focus and confidence are key: Communicate objectives clearly and provide just enough context so that the board will move in the desired direction.

Ensuring Impactful Board Meetings

Board member engagement and productive decisions signal a board meeting’s effectiveness. To ensure these positive outcomes, consider the following:

• Provide comprehensive materials before the meeting. Well-structured, detailed information given several days ahead allows board members time to study and prepare, ensuring focused and effective discussions.
• Set clear objectives and desired outcomes. Define each meeting’s purpose and goals. Create an agenda focused on setting top priorities and solving pressing issues.
• Encourage robust debate. Welcome open discussions during board meetings. Ensure the environment encourages, values, and debates diverse perspectives.
• Execute: Timely follow-up on decisions as well as action items shows accountability and pushes progress on agreed-upon initiatives.

Building Trust and Alignment

Strong trust and alignment between a company's board and leadership are key for effective oversight and positive business outcomes. To ensure strong bonds, leaders should:

• Create and communicate a shared vision. A compelling vision regarding where both the board and leadership see the company moving forward helps ensure alignment and the realization of the vision.

• Evince transparency and integrity. Be truthful about company successes, risks, challenges, mistakes, and missteps. Maintain high standards of ethical behavior.
• Ask for guidance and feedback.  Routinely seek board members’ feedback on your performance. Ask for advice on leadership. Be open to constructive criticism and use it to grow your personal and professional skills.

Continuously Improve and Adapt to Change

Working effectively with your board of directors requires a high level of commitment to adaptation and continuous improvement. As a leader, strive to:

• Refine board engagement strategies: Assess the effectiveness of your board engagement efforts, identify areas for improvement, and implement necessary changes.

• Anticipate new expectations and requirements: Stay aware of changing board expectations, regulatory requirements, and best practices in governance and adapt accordingly.
• Invest in ongoing education and development of your board members: Help them increase their skills and knowledge regarding your business sector and global economic changes and challenges. Providing growth opportunities enhances their value to your company.
• Welcome change and feedback: Embrace change and be receptive to feedback, advice, and ideas from board members. This openness aids your growth as a company leader.

Embracing the power of collaboration and transparency between a company’s leadership and its board of directors creates a high-performing organization that thrives now and through potential disruptions.