How to Make Your Board of Directors Run More Efficiently

Whether you’re running a corporation, Crown Agency or a not-for-profit, you’re always looking for new ways to improve efficiency. To help achieve this, you need to get the most you can from the people who make the important decisions — your board of directors.

Here are some important things to keep in mind to get your board of directors running more efficiently.

Use the Latest Tech

If you’re looking for steps to make board governance simpler you should begin with the latest in board portal software. There is purpose-built technology specifically designed to improve communications among your board of directors.

Board portal software from companies like Aprio promotes good governance by centralizing all communications, so your board doesn’t waste time communicating across multiple formats. While the Aprio application is designed to run intuitively on desktops, laptops, tablets and phones, the software itself is Cloud-based, so changes made on one device will be updated automatically on all the others.

Board portal software makes it possible to read documents and flag important messages as well as share annotations, questions and corrections instantly and easily with other board members. Collaboration is natural, as all board members are alerted to any update to a document made by another member via email.

Secure, confidential, and extremely modern,board portal software keeps your directors up to date on the latest information that they need to make your board run efficiently.

Undergo Periodic Assessment

Learning which aspects of board governance can be improved is an important part of running your board efficiently. Board evaluations should keep a few principles in mind to run most effectively, like having clear objectives, a designated leader, input from senior executives, assessments of effectiveness and, finally, commitment to implementing the results of the assessment.

It’s not enough to know whether the board is operating effectively – learn why it is or isn’t, and work collectively to make positive changes.

Be Concerned About Strategy, Not Mere Compliance

A fascinating article from the Harvard Review of Business charts the difference between boards focused on merely abiding by the law, and the more ambitious boards more concerned with far-seeing strategical needs.

Boards that set their sights lower also show common signs of dysfunction, like founderswho dominated meetings to the exclusion of voices trying to change or modernize the company. Another example is high-profile CEOs too focused on issues facing their own company, rather than those facing the board itself.

Signs that your board is working well include members who sacrifice short-term personal gain for the long-term viability of the institution. Efficient boards are in it for the long haul, and all members work collegially with other directors to get the best performance.

Getting the most from your board of directors depends on several factors, such as the nature of the institution, the personnel of your board, and lots more. But if you use the latest technology, assess how your board is really doing and show commitment to improvement, you’re likely to get better results soon.