4 Ways to Improve Communications With Your Board of Directors

CEOs and other top-level executives may face some genuine challenges when communicating and working with a board of directors.  Of course, all business leaders must remain clear and articulate when conveying information to board members; but one of the more daunting missions is that of engaging and inspiring your board of directors into necessary supportive action.

The central objective of a directors’ board is to assure the financial and overall success of an organization by cooperatively presiding over the company’s business matters.  Board members maintain direct accountability to the company’s shareholders and stakeholders, providing annual reports concerning the company’s plans, proposals, strategies, and general performance.  Additionally, the board of directors oversees and handles any issues stemming from corporate ethics, governance, and even social responsibility.

The best course of action is for business leaders to schedule board meetings periodically throughout the year, and given the high stakes subject matter, it’s important that business leaders learn to handle board meetings with purpose and ease.

1.  Provide Orientation

The most effective board members prefer a direct course of action to reach a resolution, and this is only possible if they understand the landscape of your company.  Be sure that your board members are familiarized with your company’s staff, committees, history, and especially, the needs of your organization.  Without this basic foundation of knowledge, board members will not have a full grasp on how their assistance fits into the equation.

2.  Offer Status Updates

Ensure that members possess proper access to necessary information needed for monitoring progress, as well as periodic updates relating to the status of their goals. Therefore, any implemented changes should be documented according to periodic development. Board members want to understand the effectiveness of their strategies in order to either adjust and adapt accordingly or remain steadfast on their path.  Preparing honest, comprehensive status reports on new initiatives is a must when communicating with your board of directors.

3.  Minimize Extra Data

When discussing financial issues, remember that it is the board members’ job to take a strategic approach in guiding management toward the best course of action for the ultimate success of your company.  Naturally, you will be prepared with data to back up your claims in either direction, but approaching the subject with a litany of numbers may throw the course of the meeting into an analytical mode, rather than a strategic one.

4.  Distinguish Individual Value

It is known that most board members are often busy individuals with many other projects, accomplishments, and obligations. However, as the leader of your organization, it is your job to make evident the necessity and impact that each individual board member has on your organization.  A dedicated board member strives to utilize their talents for a true positive impact.  If you want your board of directors to keep your company a priority, be sure to recognize what each member has to offer on an individual basis. Some members may have affiliations that are very useful to the goals of your organization, while others may have an experienced eye for finance or governance.  Realizing and embracing your board as individuals — each with important contributions to offer — will keep the members of your directors’ board engaged in the well-being of your company, which of course, results in more productive meetings and profitable outcomes.

In Summary

Remember that your board of directors can only assist you with the right tools.  Remaining forthright regarding your progress (and theirs); communicating details in a straightforward manner; realizing what your board can offer you, both on an individual basis and as a whole; and educating board members on what your needs are as an organization; will assure that your company is on the path toward ultimate success through the valuable assistance of your board of directors.

Fred Coon, CEO

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