Board meetings are an essential element of good corporate governance and can provide valuable insights for the company. There are however many ways in which board meetings can be inefficient and unproductive. In this article, we’ll discuss some easy tips to help your company to control the pace of meetings and keep your board meetings dynamic and lively.
Punctuality and Preparation
It is essential to begin board meetings on time and ensure participants have the required materials to review ahead of the of the meeting. Inability of members to follow discussions due to lack of background information or context is the most frequent reason for board meetings being ineffective. Additionally the board should clearly announce the agenda to all participants at least 3-4 days prior (or even earlier), so that everyone can read the agenda and prepare for the meeting prior to the time.
The timeframes for meetings that are outlined on the agenda is vital to maintain productivity. This will show participants that the board realizes how important their time is and that they’re respected as professionals. The board chairperson or moderator should constantly be monitoring the meeting’s progress, and gently keeping discussions on the right track so that all of the agenda items can be addressed and the meeting can conclude promptly.
It’s also important to prioritize the most important items on the agenda. This will prevent the majority of the time on lengthy reports or noncontroversial issues that could have been discussed by the management team, the CEO or other committees.