As a board member, you want to see your company to succeed well into the future. To do so, you have one eye on the present, and the other on the future. Even if things are going well now, you still need to be prepared for the future. For example, the strategies that you’re implementing today may not work in the future. The following are some methods of ensuring that your board is well-prepared for the future of your business.
Create an Inclusive Culture
In order to have a healthy organization, everyone, especially those on your board of directors, need to feel included. People won’t want to speak up and share their unique, innovative insights if they don’t feel welcome. An inclusive culture will ensure that the people on your board are personally invested in the continued success of your organization. No matter how many resources your pour into innovation, inclusiveness is the most beneficial aspect to your board. Let everyone know that their ideas are both welcomed and valuable.
A Mixture of Generations
While there is a lot to say for placing experienced men and women in leadership positions within your organization, don’t be afraid to incorporate some younger professionals as well. While experience is invaluable, it’s essential to know on one hand that many members of your board may retire in the next few years. You’ll want to be sure that you have people prepared to step up into their positions that are already familiar with your business. But technology is also changing at a very fast pace, younger generations are often more knowledgeable and better suited to incorporate new technologies
Technology is the Way of the Future
This is obvious when you discuss e-commerce as a new sales channel, it should also be obvious when it comes to all your other internal processes and also when designing new products or services. To future-proof your board, you will need to integrate software that can be used to streamline tasks and communication. Companies such as Advisory Board Architects or Diligent have created software that allows board members to analyze numbers, communicate member to member, and perform other tasks. Technology is an extremely useful tool, and it will become even more instrumental to your board’s success in the future. You don’t want your company to be left behind as your competitors successfully incorporate technology before you.
As your business grows and evolves, your board will have to do the same. Undoubtedly, you’re already putting processes and procedures in place to prepare for that growth, but you need to be sure that you aren’t neglecting to future-proof your board. Their ability to adapt as your business changes will be crucial to your long term success.