A common, but sometimes misguided assumption is that an experienced executive equals an effective board member. However, the background of many new directors has changed greatly over the past few years and some directors lack in depth governance knowhow, both in theory and practice. Most companies provide excellent onboarding orientation regarding director roles and responsibilities, governance structure and processes, and detailed information on company performance, opportunities and risks. Many also assign an experienced fellow board member as a board mentor. However, both companies and mentors often find it difficult to convey what it takes to become a high performing, effective director.

KirtleyWood believes there is a “missing ingredient” in the onboarding process that first-time and new directors want and need to quickly integrate and bring their anticipated value as a new board member. This ingredient is highly customized, personalized advice that provides insights, tools and resources for specific topics and questions of new directors. With access to experienced advice to address board dynamics, processes and questions prioritized by each individual director, their full integration and participation can be greatly accelerated.

The pivotal role of high functioning leaders of boards and committees, individually and collectively, to propel the success of a company cannot be overstated. Appointing experienced and wise directors is a key first step and rightfully receives much effort and attention. An equally important (but often overlooked) next step is board succession planning, which requires thoughtful identification and development of board and committee leaders.

Some directors come into leadership roles with extensive board experience, but many do not. While they may possess the requisite knowledge gained in the workplace, board leadership requires many other elements to be effective. Importantly, a leader must build strong, trusting relationships with members of the executive team for candid and transparent discussions of issues, as well as guide board and committee discussions to identify and address all important matters.

KirtleyWood advisors have extensive experience at all levels of board leadership. They provide highly customized, personalized advice that provides insight, tools and resources for the specific needs and questions of each individual new leader. Our counsel can be greatly accelerate and fast track their leadership effectiveness.

New chairs of boards or committees have an elevated opportunity and responsibility to influence positive change for the boards on which they serve. KirtleyWood can reduce the learning curve and optimize the effectiveness of new leaders.

While high functioning boards and good governance is the standard all companies seek, setting up and maintaining those best practices is not always easy or accomplished. In the case of new (i.e. IPO) or young boards, the directors may not have the time or experience to set up such policies and procedures or have the know-how to incorporate good practice into the cadence of the board work. A board will evolve as it gains experience, and KirtleyWood has the depth of knowledge in this specialized area to assist in the establishment and then the practice and fine-tuning of good governance.

In the case of well-established boards, it may be advisable to have a “tune-up” or review of existing practices by a third party to ensure that best practices are being incorporated into the activities of the board. KirtleyWood can bring its decades of experience in board practices to such efforts, and can advise companies on what they are doing well, and what they may want to change or enhance.

Advising on governance is sufficiently specific (no two boards are the same!) so all services by KirtleyWood are customized to the company and its needs and interests.

Board assessments are an annual requirement for public companies, but individual boards are allowed to decide on the format and process. As a result, they assessments can vary greatly, from a compliance exercise to obtaining meaningful input with recommendations for improvements. We believe boards can maximize their potential and enable better board performance by periodically engaging an independent assessment of board effectiveness and practices

KirtleyWood leverages its co-founders’ board leadership experiences to provide comprehensive board assessments through an interview process with each director. The findings are summarized without attribution and recommendations are made for board and governance enhancement opportunities. This thoughtful exercise can produce valuable insights and actionable outcomes to elevate the board’s effectiveness.