The start of a new year can be a great way to ring some changes for moving forward. And there is no better way for your business than to look at whether your current leadership structure is fit for purpose. Here, Peter Neal, founder of Experience Bank Group, talks about how they can help!
“Many businesses find that during December and January they have more thinking time at work. And that they have more inclination to think of strategic change, driven by new year resolutions and the concept of that fresh start, which allows people to believe they can launch something more successful or better than they are doing currently.
“We encourage our SME and charity clients to use this time to assess their current leadership team and board effectiveness. The leadership team includes all decision makers including CEOs/MDs, functional directors and executive leads, trustees, chairs and non-executive directors.
“Look at your staff structure, and the roles, rather than the people in those roles. Are those roles fit to fulfil your strategic direction and plans, or are there gaps in your skillset? How can you fill those gaps?
“Upskilling what you have is always an option. There are lots of training options and peer groups. For CEOs and operational leaders peer groups like Vistage, which my business partner Andrew Marsh chairs in the region, can be invaluable. As well as skills to learn and expert speaker opinion, members gain a whole peer group circle of trust and their experience to brainstorm with.
“As for trustees, chairs and NEDs we ourselves at Experience Bank Group run a peer group that improves decision making skills, knowledge base, confidence and performance. Our Chatham House rules mean that members bring real time issues and challenges to the meetings, which are discussed and solutions proffered. If you think about it, it means any board with a member enrolled actually gets the experience and insight of up to 12 impartial individuals through the peer group. That makes it incredibly valuable.
“Another thing to consider is reshaping your existing board – the best place to start with this is to undertake a board effectiveness review, which we offer utilising Andrew’s unique capability and experience. He will design and deliver a board evaluation and effectiveness review that results in improved leadership, greater clarity of roles and responsibilities, improved teamwork, greater accountability, more innovation and diversity of thinking, better decision-making, improved communication, and more efficient board operations.
“Each assignment is tailored to suit our client’s needs, and could include:
interview or questionnaire-based reviews
a review of board papers, meeting observations and in-depth, candid discussions
the provision of a detailed insight into the workings of the board
the identification of strengths and weaknesses
the identification of the changes that will enable the board to achieve its full potential
a look to the future and identification of opportunities for improvement and development
“Why invest the time and money in this we hear you say? A board that truly adds value is not just a group of high performing individuals. A great board is a balanced team with complementary skill sets and a culture that allows them to work together to make the most effective decisions for an organisation. It is the full participation of every board member that contributes the most to the effectiveness of a board.
“Finally, your next thing to consider is new recruits to the operational team or board. Once you have identified knowledge and skills gaps that would help achieve your 3 or 5 year strategy, it is important to find the right people to complement the existing team. At Experience Bank Group we focus exclusively on recruiting Board Directors (Executive and Non-Executive) and Senior Management roles. We identify existing and emerging talent, assess, track, and place the right candidates at the right time for our clients.”
If you are interested in any of the services from Experience Bank Group, then visit theexperiencebank.co.uk or contact peter@theexperiencebank.co.uk
