The Formula to a Brilliant Board

Board membership has evolved. Today, boards are no longer mere status symbols but strategic pillars, infusing their expertise to propel organisations towards long-term success.

At Modern People, we work closely with boards and executive teams to evaluate and build outstanding boards. After years of considered observation and experience, we’ve identified some clear commonalities among the GREAT boards we work with.

Here are our top 10:

1. They have a purpose first approach.
   Successful boards have a clear understanding of the organisation's mission, vision, and values, and they make decisions that align with that purpose. They understand that their role is not just to provide oversight and direction, but to ensure that the organisation is making a positive impact.

2. They have their finger on the pulse.
   They stay informed about the latest insights and trends in their industry and in broader society. They are ready to provide an informed opinion on relevant things, whether it's social shifts, technological or operational advancements, economic risks, or industry developments.

3. They have an assortment of change readiness strengths.
   They are prepared to adapt to change and are not afraid to take calculated risks. They understand that the business landscape is constantly evolving and that they need to be able to respond quickly and effectively to stay ahead of the curve.

4. They share the oxygen.
   They recognise that every person has something valuable to contribute and they ensure that all voices are heard and respected. They promote equal participation and encourage constructive debate.

5. They have regular connections.
   They are socially engaged and have a clear rhythm, with regular meetings and opportunities for board members to interact outside of formal settings.

6. They are visible and involved.
   They are integrated and deeply embedded in the culture of the organisation, and they are approachable and viewed as human. They are not a group of distant executives – they are seen as part of the team.

7. They have an aligned and well-communicated strategy.
   They understand the organisation's goals and objectives, and they work together to develop and communicate a clear plan for achieving them.

8. They strike a balance between challenge and support.
   They are not afraid to ask tough questions and challenge assumptions, but they also provide support and encouragement to the executive team.

9. They have group principles and self-awareness.
   They understand their role and responsibilities and are guided by clear principles and values. They are also self-aware and recognise their own strengths and weaknesses, and they work to continually improve.

10. They have diverse capabilities and opinions.
    They bring together individuals with different backgrounds, experiences, and skillsets, covering all areas of organisational value. This diversity of thought and perspective allows them to make better decisions and drive better outcomes for the organisation.

Building an outstanding board is critical for organisational success.

By applying a formula incorporating these top 10 commonalities, organisations can create a board that is purposeful, adaptable, and well-connected, and that drives positive outcomes for the organisation and its stakeholders.

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