Due to COVID-19 there was a need to move to different governance routines so much so it created almost a new governance environment, and the line between management and the board shifted out of necessity. Almost a year on, many of these changes have remained firmly in place. It’s now time to move back from some of these governance changes in a thoughtful way, the question is how far back should we go and which changes need to remain.
Lockdown shone a spotlight on different ways of working, in particular remote working, and the work health and safety issues associated with it. Companies had to think about how to provide better support to their employees and it was a real impetus to reexamine safety at work from a new perspective. Moving forward there is still a lot that needs to be done to ensure employees remain safe at work, wherever that is.
In times of crisis many boards will be forced to revisit the line between board and management. When survival is on the line, the board needs to have its hand on the wheel, and be much more closely involved in the operations of the business. This is not problematic, and is to be expected in an effective governance structure
There are a large number of reasons why a CEO might be frustrated with their board. To help you explore the potential causes, there’s eight questions to think about below
Automation records every decision made in its implementation. Compared to when a human makes a bad decision, when something goes wrong, the audit trail has a concrete path back to the board
Some boards allow management to spread attention too thin and focus on too many little things. The right approach is bigger bets in fewer places.
More collaboration between the board and management is not always a good thing – some guidelines for when you might have overstepped the mark