The board of directors plays the most important role in every corporation. They set the tone for the whole company, and every employee pays attention to their leadership.
If you want to have a successful company, you need a board of directors that communicated and functions effectively. How do you accomplish that? Keep reading for our top six board communication tips.
1. Clearly Outline the Mission of the Board
A board of directors has several major responsibilities, so it’s important to lay them out clearly so that everyone fulfills their role. By simply defining the mission of the board, you can spare yourself a ton of miscommunications and conflict.
Here are the typical responsibilities of a board of directors:
- Counsel and advise the company executives
- Determine company policies
- Choose the executive staff
- Set the long-term mission of the company
- Determine the structure of the company
- Review financial performance
- Communicate with shareholders
- and more
Essentially, the main goal of the board of directors is to steer the company in the right direction, and make changes when necessary. Every board can function differently, so you and your team need to outline a clear mission so that everyone understands their responsibilities.
The main cause of confusion on boards is when members feel like there wasn’t enough communication. It’s better to communicate early and often, than not enough.
When you have an upcoming board meeting, make sure everyone knows the agenda. It will make them feel like they can participate appropriately and not feel surprised by anything at the meeting.
3. Communicate Directly
If you want your meetings to be productive, don’t beat around the bush. Clearly spell out the issues that the company is facing so your members can properly weigh in and give you their opinion on whatever matter is being discussed.
By the end of your meeting, your members should feel like they have action steps to complete to move the company closer to its mission.
4. Ask For Feedback
If you want to make sure your board members feel valued, ask them for their feedback on the most recent meetings and initiatives. Is the communication style working for them? Do they feel like a contributing member of the team?
Getting feedback will help you know what’s working and what you need to address.
5. Communicate Securely
A board of directors often discusses sensitive and confidential information about the company. Make sure your communications are secure by using the best board portal software.
Cyber attacks are happening more and more, and they could threaten the health of your company if confidential information is leaked to the public.
6. Be Strategic
Your board members are busy people that don’t like it when their time is wasted. Strategically decide what subjects need to be discussed at a board meeting, and which ones can be done over a phone call.
Why You Need Good Communication With the Board of Directors
As we said, the board of directors sets the tone for the company and steers it in the right direction. When the board doesn’t have great communication, chances are that communication is breaking down throughout the lower ranks of the company too.
Prioritizing communication with these tips will benefit the entire company. For more business resources, check out our other blogs.