Board meetings are essential to support the company’s goals, preventing conflict and ensuring compliance with the requirements of regulatory agencies. However, they can only be successful if everyone is committed to fostering positive dialogue. By applying these best practices you can transform your Board meetings into dynamic engines that push your company toward its long-term vision and goals.
Establishing clear expectations and meeting guidelines is the first step to running a smooth board meeting. It is about clearly identifying who is responsible for each item on the agenda, and making sure that all attendees have a full understanding of what is expected from the meeting.
Setting and adhering to timeframes for each agenda item helps to ensure that the meeting is focused throughout. It also shows the attendees that their time is valued. You might want to limit the number of items on your agenda to ensure your board members have the time to discuss each item effectively. The items that aren’t controversial can be voted on via the consent agenda, which will free up more time for discussions on strategic issues (BoardEffect). Utilize visual tools like countdown timers and stick to your time frames particularly when discussing sensitive issues.
Distractions in discussions can result in unnecessary meetings and divert attention from meeting goals. To reduce this, add a “parking lot” on the agenda for topics that require further investigation or thought however are not at the top of the priority list. Check the parking area regularly to determine what issues need to be added to the agenda or researched further or delegated.