Established business models are facing
a constant threat of being dismantled to create way for new options promoting
growth and innovation. Organization boards, which have been the strongest
pillars of traditional business operations, are coming under great pressure to
verify their relevance. Even in a country like China, where traditional methods
of doing business are still quite popular, the investors are increasingly
expecting the boards to have meaningful processes in place for renewing their
memberships and maximizing their effectiveness. That is why many business
organizations have felt the need recruitment of new board members possessing
the right knowledge and experience in accordance with the changing business
needs.
In this context, the providers of board advisory in
China services stress on the importance of having the perfect
onboarding program to ensure a smooth onboarding experience for the newest
board members. The most important thing
for businesses to understand is that the best onboarding programs are tailored
to suit the unique experiences, backgrounds and proposed responsibilities of
the individual new directors. Discussed below are the 5 key recommendations that
can help business organizations to ensure the development of suitable onboarding
program.
Clearly
Define Processes And Expectations
Most new board members favour a more
formal onbarding program that provides clear details about the various
processes and expectations. This helps the new members to prepare well for
their first board meeting as well as any meetings with the other senior
executives and managers. Well structured and formal onboarding programs make it
easier for the new members to proactively identify any potential gaps in their
skills and expectations and also to formulate follow-up questions.
Organize
One-To-One Meetings With Top Management
Setting up individual meetings of the
new board members with the top members of the management including CEO, CFO,
Independent Chair Directors and other corporate executives is extremely
essential for ensuring a smooth onboarding experience. Unfortunately, most
business organizations tend to overlook this extremely important aspect as they
feel that the new members will anyways be interacting with these executives
during the board meetings. However, these meetings can go a long way in enhancing
the confidence and trust of the new board members and help them to gain a
better understanding of boardroom dynamics and board culture and backgrounds of
other board members.
Provide
A Comprehensive Overview Of The Company
Providing comprehensive information
about the company strategies, processes and finances to all new senior level
employees is highly recommended by the top
leadership coaching firm in China. This is even more important while
designing an onboarding program for new board members. Providing an overview of
the organization on a historical and forward looking basis ensures provides
them a clearer idea of the operating direction and challenges faced by the
company. This information can help the new members to suggest the right
strategies and come up with the most effective and relevant solutions that can
help the organization in achieving its goals in a timely and efficient manner.
Encourage
100% Committee Meeting Attendance
In most business organizations, a
large percentage of the board work is delegated to committees. Since all new
members are assigned to one or more such committees, it is essential to ensure
their 100% attendance at such committee meetings. Doing so helps in
accelerating their understanding of the company and the board.
Assign
An Experienced Mentor To The New Board Members
Assigning an expert mentor to the new
board members is something that most organizations still do not include in
their onboarding program. These mentors can be chosen both in-house or hired
from external organizations providing such services. This provides the new
members with a reliable person to turn to in case of any doubts or queries
besides helping them gain an understanding of the board’s working from inside.
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