When you ask the members of the Experience Bank Group's peer group (for NEDs, trustees, board advisors and consultants at board level) what the hardest thing about holding one of these positions is, they all have the same answer: "Finding a way to improve your own performance as a board member."
This quandary is what led Peter Neal, the founder of the Experience Bank Group, into setting up the peer cohort opportunity. Here he talks about how board members can improve performance, highlighted by examples from real-time NEDs and trustees.
“Being a board member can be quite a lonely experience. As our peer group facilitator Andrew Marsh pointed out at our latest session, whilst a board is a team with a common goal, it is also a group of individuals who have to focus independently on what they believe is the best for the stakeholders – board members need not necessarily like each other, but they can and must act professionally.
“It can sometimes, therefore, be hard to turn to other members of the actual board you are involved in, and often NEDs find themselves relying on their own tenacity to find ways to improve their own performance. But is that enough?
“There is, of course, lots of online material that you can read, but I firmly believe the best way to process information is to talk to other NEDs from other organisations. By building relationships in and outside of your organisation, by asking for others’ perspective, you will adapt new skills and approaches. You should, without question, make sure that this is done in a safe and confidential space though!
“New member Garry said on joining our peer group that one of the main immediate benefits to him was to learn, in a confidential setting, lots of different perspectives to the same challenge – he fully enjoyed watching how the group talked around the issue to come to pretty much all the same conclusion.
“Which shows, as with everything in life, the best way to learn is to listen. Ask the relevant questions, spend time with your MD/CEO, and absorb. There is no way that you can be performing well if you don’t actually understand your organisation, its aims, purpose, challenges, current model and strategy.
“As well as listening and asking questions you should be on top of standard knowledge on governance, articles and policies, as well as changes to legislation in the industry you’re working within.
“You can usually source this from industry bodies, but it is always good to have allies at the same level as you in other organisations who you can swap notes with. Simply reading something and then putting it into practice can be difficult and unsuccessful – theory is not always transferrable into reality without real-time context.
“Another simple way to perform well is to make sure you read all the information/papers and be fully prepared before the board meeting. If you don’t already have a process in place where you receive board papers a week before the event, then it is something I recommend you put in place. Being prepared is key to maximising that time at the board table and is all important to the whole board, not just yourself!
“Understanding what are (and how to deal with) conflicts of interest is key too. In a recent session, our peer group processed what to do about dysfunctional board members, and it was enlightening what some people don’t realise is unacceptable behaviour at this level. Cohort members Jon and Ian both reported in on witnessing unacceptable behaviours, along with Alison who asked for ideas on how to get through to a board level colleague who was performing operationally instead of strategically – it made us all realise as a group how many NEDs and trustees fail to perform well, due to ignorance and conflicts.
“My final tip on how to improve your own board level performance is to actually care. Care enough to invest the right time, to invest the right effort and to invest in yourself with some director level training or by joining a peer group. If you keep an open mind, question your own performance, and remove any trace of ego, you will always be looking for ways to be better and that naturally leads to enhanced performance.”
If this article has spurred you onto wanting to perform better in your board level position, then do get in touch with Peter for more information on the current peer group opportunities – peter@theexperiencebank.co.uk