The performance of an organisation can be influenced by many events, not all related to the efforts of a CEO. This can mean some leaders receive too much credit for success while others face the blame for poor organisational performance. Which begs the question, are CEO performance evaluations relevant?
People leave jobs and move onto new opportunities. It happens all the time – it’s called a career ‘path’ for a reason. Chances are, many of your current employees are thinking about their next role right now. The problem employers face is finding and attracting top talent to fill vacant roles.
Regardless of whether you are an experienced independent director or an emerging director considering a career in governance, much like an executive role, there are many factors to consider before accepting a position on a board.
As a company grows and evolves, it will have an increasing need for experienced stewardship and support to deliver on its strategic direction. Having access to high-quality advice and guidance can greatly enhance an organisation’s performance. One of the best decisions a business leader can make, is the creation of an Advisory Board.
The demands of boards are great, and the challenges are many – ongoing implications of a global pandemic, a highly competitive talent market, potential for economic slowdown, climate risk and ESG initiatives, increasing prevalence of cyberattacks, regulatory change – there are certainly no shortage of issues that are likely to require board attention in 2022.
With the challenges brought about by a global pandemic, many organisations have had to radically transform the way they do business. The path ahead remains filled with uncertainty and in the face of this “new normal”, boards and senior leadership teams will require different ways of thinking.
With ultimate accountability for ensuring the prosperity of an organisation, boards are increasingly being held to account for organisational culture and more specifically misbehaviour - achieving organisational success by being proactive and operating with integrity.
There was an insightful article that appeared in a recent edition of the Institute of Directors Boardroom magazine that reflected on the need for international experience on Boards of companies with global growth aspirations.
A board of directors has a long list of responsibilities – strategy formulation, accountability, monitoring, policy making, appointing a CEO – and there is certainly a correlation between strong organisational performance and effective corporate governance.