Follow these tips By Leisa Goodman
Follow these tips from board expert Les Wallace, Ph.D., and make the most of your meeting time. President of Signature Resources, Aurora, Colo., Wallace recently led CUES' first-ever Board Chair Development Seminar.
1. Make sure your board’s meeting packet contains only what’s needed for a good fiduciary discussion—nothing more. Wallace suggests the CEO and board chair have a conversation to decide what’s vital, and what can go. “That way, the CEO doesn’t feel like every detail needs to be provided,” said Wallace. “In general, more experienced board members needs less information, so the make-up of the board can help determine what’s in the packet, as well.”
2. A good executive summary sparks conversation, and helps the group stay focused and out of the weeds. “Exceptional executive summaries can be accomplished in one page, two if complex data is involved,” said Wallace. “It’s an art—but one smart people can master, and boards can feel comfortable with. “You’ll also find an added benefit—board members will quickly learn to ‘speak’ in executive summary format, as well,” said Wallace. If questions arise, or more details are needed, the full report can always be provided.
3. Avoid scheduling conflicts by keeping a board calendar, about a year out, on a secure portal. “Including items like when the audit is due, or when the conflict of interest needs to be signed and returned, can help manage board expectations,” said Wallace. You can also include officer elections, meeting schedules, external financial review, bylaws review, and self-assessment.
4. Flip your meeting. Here, attendees get all materials, in executive summary format, ahead of the meeting so everyone can digest the information before discussing. For more on this technique, read "‘Flip’ That Meeting" (and the bonus article, "Flip Tips"), both by Wallace, in this month’s Credit Union Management magazine.
5. Utilize your committees to their fullest. A committee’s job is to get into the weeds, and report back to the board. "Committees start the conversation," said Wallace. "Trust your committees. Let them digest the large reports, and add what needs to be discussed to the agenda." Wallace cautions not to schedule the committee meetings directly ahead of the board meeting. "Some executive committees meet hours before the board meeting; it doesn’t work. There’s often too much to squeeze in, and there is no reflection time," he said. Instead, meet one to two weeks out.
6. Set and follow "rules of engagement." “When you have rules in place, anyone can call anyone out if they’re pulling the group in the wrong direction,” said Wallace. The chair’s job is to facilitate—oversee the inclusive conversation—so the entire board is involved. Wallace suggests the chair speak toward the end of the discussion, so as not to add bias or intimidate other board members. Wallace also had tips for board chairs to use to move things along. "If a board chair starts hearing repetitive things, one way to move ahead is to say something like, 'I sense we’re coming ready for a vote.' Or, 'I’m not hearing anything new; is there anything new to add?' Otherwise call for the question for a vote," suggested Wallace.
Leisa Goodman is a CUES marketing specialist. Read Wallace's bi-monthly "Good Governance" column. Simply subscribe to CUES Advantage or CUES Director Advantage e-newsletter and it will be delivered to your inbox, along with links to other useful articles and resources. Read a previous post about the seminar, "What CEOs Want Their Boards to Know."
