My top 5 new year's resolutions for your board

It’s that time of year again and I freely admit I have not made new year’s resolutions for a very long time.  It saves such a lot of disappointment when (never “if”) you break them.  I prefer to go for continuous improvement all year round!

However, the turn of the year can be a great time for some reflection.  In those few (hopefully) quieter days before everyone is back at their desks and fully functioning again it’s good to take a breath and think about what went well in the last year and what you might expect in the next – fully recognising that reality rarely matches any forecast.  

How might that work for any boards that you are on, or support?  Here are my top 5 things to consider for your board in January as you plan for the coming 12 months.

1. Is the board spending its time on the key issues for the business?

  • Are discussions strategic or does the conversation get mired in operational detail?
  • Does the board consider risk at an appropriate level – what are the high level risks to the organisation achieving its strategic aims?
  •  Does the board spend time “horizon scanning” to identify new and emerging risks – and opportunities?
  • Are we stuck in a rut – are there new areas we should be focussing on, such as the impact of AI both internally for business operations and externally for our customers and other stakeholders?

I find a board planner to be an invaluable tool to keep the agenda on track.  It is a live document which evolves as the year progresses and gives a rolling 12 month look forward at what the board will be considering. Reviewing this in light of the above questions can help refresh the conversations and reinvigorate the board.

2. Do board members' skills need a refresh?

Once you have the board planner in good shape the nominations committee can compare the knowledge, skills and experience of the current board members against what is required to take the business forward. This may lead to conversations about board development and/or succession planning.

3. Do the committees work well?

Given all that the board has to cover, are the delegations to committees working effectively?  And do board members who do not serve on particular committees feel properly informed about what goes on?

4. Is there healthy debate and challenge?

Is there any debate and challenge or is the board perhaps a little too comfortable? It’s very pleasant when everyone agrees but that should lead to the question about whether there is a danger of “group think”. Healthy debate and constructive challenge should mean ideas and proposals are properly tested before decisions are made and mistakes can then hopefully be avoided.

5. Is the board properly informed?

The age old issue of board packs still seems to be as relevant as ever today. Papers can be alarmingly long and deadlines for packs to go out can get ignored or missed. It’s worth reviewing packs regularly and inviting feedback from the board about possible changes to help them engage most effectively with the discussions in meetings.

So those are my top 5. What would you like to change for your board this year? Do send us your comments and look out for some more tips and insights on improving your board’s effectiveness over the coming weeks.