Board Governance Best Practices
Serving on a board requires diligence and a deep understanding of organisational functions and strategies. Implementing board governance best practices is a crucial step in ensuring the efficacy and productivity of a board. Firstly, the roles and responsibilities of the board members should be clearly defined. A written board charter, highlighting the main aims and responsibilities of the board, should be provided to each member. This will reinforce their function within the team and improve overall effectiveness. An important aspect of board duties is performance evaluation. Members’ performance should be regularly assessed to ensure the fulfilment of their responsibilities and to identify areas of improvement. This can lead to enhanced board dynamics and productivity. Secondly, another important practice is developing a diverse and skilled board. Bringing a variety of skills, experiences, and perspectives into the boardroom can aid in robust decision making. Diversity in gender, race, ethnicity, and age can yield different viewpoints, enriching discussions and fostering innovation. Continuous training should also be provided for board members to keep them abreast of emerging trends and legal responsibilities. Lastly, adherence to ethical standards is crucial for maintaining trust. The board should establish a culture of transparency and accountability. Strong board governance also necessitates clear communication channels within the board and with stakeholders. Through these practices, boards can drive their organisation towards its strategic goals whilst maintaining high standards of governance.
In our thought provoking Board Evaluation paper, you’ll discover:
✓ Why a Board evaluation is critical to the performance of an organisation.
✓ What are the core elements that make up the scope of an effective Board evaluation.
✓ A powerful approach that will build commitment to drive action within your organisation.
We help your Board get under the skin of what steps they need to take to provide maximum value to the business.
Our approach builds commitment and ownership, is relevant to the needs of your organisation and is inclusive, giving a voice to all Board members and key stakeholders.
The Mightywaters Team
The Mightywaters Team has considerable experience in working with Boards. They developed the GIFT® framework through understanding the areas that drive Board effectiveness. They work across sectors and different governance codes, and often with organisations with unusual or complex shareholding / stakeholder arrangements.
Anna Withers
Founder and Director
Anna focuses on the psychology and neuroscience of work, providing specialist expertise in one-to-one coaching, counselling and conflict resolution, and in the use and interpretation of psychometric tools. She has a particular interest in decision making and in helping individuals and teams make better decisions.
Mark Withers
Founder and Director
Mark brings nearly four decades of business experience and works at the most senior organisational levels, helping leaders tackle their tough people and organisational challenges. He is also a highly skilled facilitator who is able to create environments that enable groups and teams of all sizes to collaborate, innovate, create and decide more effectively.
Does your Board have untapped potential?
Withers, A. (2019). Does your Board have untapped potential?. Ethical Boardroom, Autumn Issue.
A board effectiveness evaluation that gets under the skin of what’s working well and what’s getting in the way of peak performance is the perfect vehicle to help boards unlock this potential. But what does an effective board evaluation look like? Read Anna’s article published in Ethical Boardroom and find out why and how to conduct a board evaluation and the conditions for success.
