Research points to correlation between board performance and directors’ effectiveness at core board activities
It does seem as though a board’s performance correlates with the organisation’s financial performance — not forgetting overall performance, as the Zondo state capture commission has so graphically illustrated.
Just one of the findings says it all: “Nearly 60% of directors at boards in the top quartile for effectiveness say their respective organisations have significantly outperformed peers.” It is therefore quite logical that organisations and their boards should focus on improving board performance. Based on the research from McKinsey as well as research by management consultancy Russell Reynolds Associates, there are a number of areas associated with top-quartile board performance. These areas complement the board’s traditional oversight role and show just how much the board’s remit has expanded.
Most important of all, the board needs to accept that meeting attendance is no longer enough given the board’s expanding role. Is enough being done to ensure everybody speaks up, that alternate sources of intelligence are identified, and that the independents are given an opportunity to meet without executives being present?
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