Board Effectiveness

Board strategic fit, development and succession

Company boards are facing increasing pressure, challenge, and scrutiny. The need for effective and sustainable governance has never been more important. So, what can boards do to help ensure long-term and successful governance?

We have partnered with Board and leadership recruitment specialists Norman Broadbent to explore the key areas boards need to think about when planning for the future. This includes skills development, succession and strategic fit.

Future-proofing the board

Developing the right board skills and experience in times of uncertainty

In an era of significant uncertainty, transformation and stakeholder scrutiny and a shift towards the need for more specialist input to the board, BDO and Norman Broadbent explore board composition and how boards can align appointments to their needs and strategic objectives.

In our last article, we explored the latest trends in boardroom appointments, particularly the rise of "SME NEDs" like the popular "Technology INED". Whilst such specialist appointments might seem appealing, they might not be the best, or even viable, option for every organisation due to cost, recruitment hurdles, and challenges in finding the right mix of skills. It is crucial for boards/Nomination Committees to pinpoint exactly what their board needs and why, considering organisational strategy, operational context, the external environment, and the overall board composition. Without this clarity, organisations risk making appointments they might regret or missing out on changes that could optimise collective performance and unlock new opportunities. In this article, BDO and Norman Broadbent explore how boards can evaluate their needs, taking account of skills and experience, strategic objectives, and collective effectiveness.

In our last two articles we have depicted current trends in boardroom appointments and explored the challenges and strategies of evaluating board composition and capabilities. In this, our third and final article of this mini-series, we explore what clients often describe as their most critical challenge: how to create the right conditions for boardroom success?

How we can help

The role of director has never been more vital, complex and challenging. Directors make decisions that are fundamental to the success of their organisations, and which have life-altering consequences for employees, customers, and other stakeholders". (IOD Code of Conduct for Directors)

The global risk landscape adds to this complexity, with economic and geopolitical turbulence creating a sense of 'perma-crisis’.

Such challenging times demand high performing boards who can navigate complexity and uncertainty to deliver insight and strategic leadership. To do this, the board needs the right skills and experience, and the right group dynamics.

Board effectiveness reviews are a powerful tool in supporting high performance. They provide objective feedback on strengths and areas for improvement; for individual directors and how the board operates collectively.

We offer a range of modular board effectiveness reviews and tools to meet your differing needs. We can also further tailor our approach as required. A key feature of our approach is that it remains flexible throughout to accommodate your specific needs as your own resourcing or technical capabilities grow or change.

If you want help to optimise your board's performance, our team can help. Contact Jennifer Cafferky for further information or download our Board Effectiveness Review brochure here.

You can also find out more about our Board Effectiveness Reviews team and how their work could benefit your organisation.