Korn Ferry Report Details How to Get the Best Out of Your Board

In a Korn Ferry report titled “The Optimal Board: 4 Ways to get the Best Out of Your Board,” the authors examine policies boards may adopt to better integrate new board members as well as improve board culture and cohesion. One tip was to provide an open environment for discussion and encourage self-reflection and feedback among board members. The report found, “[o]f the women who responded, only 65% feel they influence decision-making, while 81% of men feel they do.” Additionally, the report stated “women, no matter their ethnicity, get less feedback than men (53% versus 62%), and men of color (58%) receive less feedback than white men (66%).” The authors encourage boards to hold executive sessions both before and after meetings, conduct post-action reviews of all decision-making deliberations, and establish consistent feedback practices.

The report also recommends: crafting a thorough onboarding process; establishing mentorship opportunities with more senior directors on the board; and creating feedback opportunities and developmental guidance between board leaders and new directors, particularly during the first year. Additionally, the report highlights that optimal boards “not only encourage all members to speak up and ask questions but also make sure every voice is valued and can shape decisions.” It is important to organize board meetings so that directors have ample time to discuss issues and participate in decision-making.

Click here to read the Korn Ferry report “The Optimal Board: 4 Ways to get the Best Out of Your Board.”