Boardroom efficiency is key in maximizing board performance. It requires a clear and concise meeting structure as well as continuous communication. It also requires a central portal that lets directors access their meeting materials and share them with colleagues online in real-time. It is a major challenge, especially for boards that are tight on time due to shorter director terms and continual recruitment.
In an OnBoard Webinar, corporate advisors Max Franchitto & Tamara Barr shared strategies to ensure high boardroom efficiency. They discussed ways to increase engagement boardroom efficiency and foster an array of perspectives and skills. They also discussed ways to improve the board process and improve the performance of individual directors.
Some boardroom dynamics are toxic to the ability of a board member to conduct democratic governance. For example, an excessive desire to reach consensus and an absence of critical thinking can lead to unproductive discussions and groupthink that hinder the effectiveness of decision making. The tendency to dismiss an idea without fully understanding its roots can also lead to mistrust and undermine the effectiveness of a board.
To avoid these issues, a board must engage in open and honest communication with all directors, and provide them with an opportunity to share their opinions and perspectives. Boards can do this by encouraging constructive and informal director communication during meetings, by offering opportunities for directors outside of the boardroom to discover common interests, and by incorporating “hang time” in agendas of meetings to allow younger members to get meet each other.