The efficiency of the boardroom is vital in maximizing board performance. It requires a clear and clear meeting structure and constant communication. It is based on a website that gives directors to access their meeting materials and allows them to discuss them with colleagues in real-time. Achieving these goals is a challenge, especially for boards that are short on time due to shorter director terms and continual recruitment.
In an OnBoard webinar corporate advisors Max Franchitto and Tamara Barr presented key strategies to ensure the highest quality of boardroom efficiency. They discussed how to increase engagement and foster a diversity of perspectives and skills. They also discussed ways to optimize the processes of the board and boost the performance of each director individually.
Some boardroom dynamics can be detrimental for a board’s ability practice generative governance. For example, an over desire to reach consensus and lack of focus on critical thinking can result in discussions that are ineffective and hinder the quality of decision-making. The tendency to dismiss an idea without fully understanding its roots can also lead to mistrust and undermine the efficiency of the board.
In order to avoid these problems, boards must engage in open and honest communication with all directors, and provide them with the opportunity to express their opinions and perspectives. Boards can accomplish this by encouraging constructive and informal director communication between meetings, allowing opportunities for directors to meet common interests outside the boardroom, and by incorporating “hang time” in agendas for meetings so that newer members can get to know their peers.