Every board in every organisation wants to be effective. That always has been and always will be a major goal and ethos leaders adopt. But to be effective, a board must be efficient and adopt usable tools.
All the decisions in the world, big or small, are made based on varying levels of efficiency. But why is the concept of efficiency so important? Well it ensures that resources like time, talent, and technology are optimised to deliver maximum results.
The other half of the magic equation to reaching peak effectiveness is usability. Usability ensures that processes, tools, and systems are intuitive and accessible for everyone. Adopting efficiency as well as usable tools leaves you with more time to make decisions that help your organisation grow.
This article is a fantastic starting point for those who want to learn more about board work and the processes and technology that make it as frictionless as possible.
Building a Strong Foundation for Effective Board Work
An effective board needs a solid foundation. Good board work requires that every member is clear on their responsibilities and feels free to share their opinions in a culture of open communication.
Diversity is not just a buzzword when it comes to boards. By ensuring you have representatives with different competencies and viewpoints, you build protection from the risk of groupthink.
The following are five clear elements that distinguish an effective board team:
- Members possess a wide variety of skills
- The board has an evolving, diverse composition
- There is a culture for always seeking improvement
- Processes and tasks are automated
- They look beyond the day-to-day and strive to build a better and successful future
Streamlining Processes for Optimal Board Performance
Three ways to improve board performance are:
- Meeting effectiveness
- Regular evaluations
- Effective tools and technology
Board directors only have a limited amount of time, so preparation and clear agendas are vital for optimal meeting performance. To host an effective and productive meeting, it’s important to look at the bigger picture and larger goals of the company. However, don’t forget to consider smaller, continuous improvements to your meeting structure.
The role of board evaluations is also vital. More directives and governance codes advocate for annual board evaluations. During this process, the board and essential executives gauge the current efficiency, capabilities, and potential of the board. Digital tools for board evaluations are available for board members to implement in order to have the most synergy, alignment, and understanding possible within the group.
Evolving Roles and Responsibilities in Modern Board Work
Boards today operate in an environment of constant change. Climate change, stricter regulations, and rapid digital transformation require directors to expand their areas of expertise.
The traditional approach to change management – slower, split into distinct phases – has been replaced by a much faster, hyper dynamic process. To succeed, boards of the future must boost their digital literacy, work more closely with executive teams, and make better use of data to guide decision-making.
It’s paramount that board members, secretaries, and others involved in the board meetings are aware of their own role and how the wider digital culture can impact it. Everyone needs to be ready to adapt and change in order to keep board work progressing and remaining efficient. Any hiccup or lag in adopting new best practices or technologies can slow down a board and create unnecessary friction.
Board Portals for Efficient Board Work and Digital Meetings
The one indispensable tool for boards to utilise is a user-friendly board portal. A board portal is a secure environment for communication, storing, organising, and signing documents, as well as voting, assigning tasks, and setting deadlines.
Many of the day-to-day challenges boards face today are solved with a board portal. With Admincontrol’s board management software, you can easily manage the entire meeting cycle. Collaborate and distribute information while maintaining control of the annual plan, meeting minutes, and decisions.
In Conclusion
The truth of the matter is that efficiency comes from within. Create a culture of responsibility on your board and encourage board members to be active and engaged with the work you’re conducting. But as we mentioned, there are tools and technology to help you achieve the efficiency that your board requires. Usability is where we come in. You can be as organised and connected as possible, while Admincontrol helps make board work as easy as possible.
