Board composition impacts the strategic direction, financial health, and overall performance of every enterprise.
A well-functioning board of directors is the backbone of any successful organization, whether it operates as a non-profit, a for-profit business, or a government entity. That is why selecting the right people to serve on your board is a critical decision that demands careful consideration.
Once you have a strong board in place, the implementation of the best practices for managing that board will become just as, if not more, important than your board selection.
This article discusses the importance of developing and managing your board, the role outside consulting can play in ensuring optimal board performance, and best practices on how businesses, nonprofits, and government entities can select and manage their boards of directors.
The Importance of Board Member Selection
Board membership is a puzzle, and the solution is different for every organization. However, the importance of a balanced and diverse board of directors cannot be overstated.
Many factors come into play when selecting board members: career experience, job role, social influence, involvement in other boards, position in the community, geography, age, race, and gender, among many other considerations. Depending on the goals and strengths (or weaknesses) of your organization, this process can be far more nuanced than you might think.
A balanced, diverse, and well-rounded board brings a wider range of perspectives and opportunities to the organization it serves. By carefully selecting board members with a mix of skills and experience, organizations build stronger, more effective boards, which will drive success at any level.
Remember to think outside of your comfort zone. Sometimes the best candidate is someone who has not entertained the idea of serving your organization.
Once you have your board in place, it is critical to create and maintain a pipeline of willing, qualified candidates to have the proper succession planning in place.
As members roll off your board, remember that alumni and the institutional knowledge they carry are assets your organization can’t afford to go without. Always create opportunities to keep former board members engaged after their term has ended.
Top 10 Best Practices for Board Selection and Management
Here are some best practices that businesses, nonprofits, and government entities can implement in terms of board selection and management:
- Determine the Criteria for Board Nominees
- Screen Board Candidates
- Define Board Member Expectations
- Ensure Bylaws are Specific
- Invest in Training Board Members
- Consider the Impact of In-Person Meetings
- Create a Pipeline of Board Candidates
- Standardize Processes
- Evaluate, Evaluate, Evaluate
- Engage Board Alumni
Benefits and The Role of Outside Board Consulting
Many organizations seek outside assistance from professionals who specialize in board consulting services to ensure optimal performance. They may offer:
- Board Member Recruitment and Selection
- Board Structure and Governance Guidance
- Board Member Evaluation
- Board Training and Development
- Conflict Resolution
Conclusion
A well-composed and effectively managed board of directors is a cornerstone of organizational success. By carefully selecting board members with diverse skills and experiences, and by implementing best practices in board management, organizations can optimize their governance, enhance outcomes, and achieve their strategic goals.
To further elevate board performance, many organizations benefit from the assistance of outside board consultants. These professionals can provide valuable guidance on board recruitment, structure, governance, evaluation, training, and conflict resolution.
About Our Author
Kristy Quattrone is a member of the Adams and Reese Intersection of Business and Government practice group and is a Government Affairs Advisor in the Columbia, South Carolina office. Kristy works with businesses, nonprofits, and government entities to develop and execute government relations strategies. She also assists in media relations, community outreach, economic development strategies, operations, and board consulting. In her former role as Director of Boards and Commissions for the governor of South Carolina, Kristy assisted the governor in finding, screening, and recruiting candidates to be confirmed by the Senate, including securing nominations for qualified candidates to serve in the 5,000 gubernatorial-appointed positions.