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At our National Association of Corporate Directors Summit, I was discreetly pulled aside by a fellow member seeking my advice. They shared an unexpected concern—the Board Chairman had recently decided to dial into board meetings rather than attend in person. This starkly contrasted with the rest of the members, who unanimously agreed on the importance of in-person attendance for the board's overall health. This deviation from the norm, especially from such a pivotal figure, cast a spotlight on a broader issue—is boardroom burnout more pervasive than we realize?
The modern corporate governance landscape reveals a concerning trend. Board members, especially those highly sought after, are increasingly becoming "over-boarded," stretched thin across multiple board duties. Such extensive commitments, although reflective of their competence, amplify burnout risks.
Burnout in the boardroom isn't merely a concern—it's a potential destabilizing force. Our ongoing partnership with boards and management teams has honed our approach to evaluating and strengthening cohesion, collaboration, and overall board efficacy. Addressing burnout is more than a managerial challenge; it's a leadership imperative. Below are the predominant indicators of burnout and recommended remedies:
1. Decreased Engagement:
- Reduced participation in discussions.
- Missing meetings or consistently arriving late.
- Lack of preparation or familiarity with agenda items.
2. Cynicism or Pessimism:
- Vocalizing doubts about company prospects or decisions.
- A general negative demeanor during meetings.
- Resistance to new ideas or changes.
3. Reduced Collaboration:
- Decisions are made in isolation of other board members.
- Reluctance to participate in group tasks or discussions.
- Resistance to feedback or input from peers.
The health of the board culture is paramount. Ongoing investments in committee and board performance proven to be effective are:
1. Regular Check-ins for Effective Communication: Schedule monthly or quarterly one-on-one sessions. These meetings offer a confidential environment for board members to address individual challenges or concerns, allowing for prompt resolutions. Emphasizing honesty and transparency is crucial during these interactions.
2. Board Leader Evaluations: Engage an external advisor to implement a rigorous third-party feedback process for directors, gathering and disseminating qualitative behavioral insights that emphasize their strengths and areas for potential enhancement. This allows board members to share their feelings, concerns, and suggestions, ensuring that every perspective is considered and valued. Boards with long-tenured members should be vigilant to avoid neglecting regular peer reviews.
3. Exhibiting the Courage You Want Management to Exhibit: Recognize when it’s time for a change. Are you staying attuned to industry shifts and company updates, and embracing new ideas? Recognize that one's ability to contribute effectively can wane over time. Consider if a fresh perspective would benefit the organization. Know when a change might be in the best interest of both you and the company. Periodically reflect:
- How do you address uncomfortable issues that may be undermining the board’s culture and performance?
- Are you attuned to the changing needs and responsibilities of the board, and do you seek to adjust board practices, processes, agendas, and structures accordingly?
- What actions do you take personally to seek help and welcome support and feedback from other board directors, including those with less tenure?
4. Optimizing Neural Networks for Trust and Respect: For effective leadership, it's vital to create an environment that supports optimal neural network functioning. When boards are constantly in crisis or lack agility, it hinders cognitive efficiency, leading to poor decision-making and extreme behaviors. Enhancing brain health in the boardroom, possibly through consulting neuroscience experts, is essential. This approach can create an environment that stimulates neural networks essential for successful outcomes, leading to:
- Enhanced decision-making capabilities, fostering productive dynamics in the boardroom, and promoting overall organizational health.
- The reinforcement and maintenance of trust within the organization.
Burnout within the boardroom can create cascading effects throughout an enterprise. By keenly identifying its symptoms, having the courage to make difficult decisions, and implementing strategies rooted in unity and teamwork, we not only protect each board member's well-being but also enhance the board's overall effectiveness.
For further guidance on elevating board practices to a higher standard, check out NACD's Culture as the Foundation: Building a High-Performance Board.
