How quickly a new director is able to contribute meaningfully to the work of the board and its committees can hinge directly on the quality of the onboarding process.
Just how steep that learning curve is—and how quickly a new director is able to contribute meaningfully to the work of the board and its committees—can hinge directly on the quality of the onboarding process.
Understanding the business—its strategies, risks, financials, operations, management team, workforce, and culture, and its competitive landscape and stakeholder interests and expectations—is a major undertaking for new directors. Developing that understanding of the business and the external forces impacting the business—as well as the priorities and culture of the board and its committees, takes time. A robust onboarding process—including essential information and briefing materials, quality discussions with key people, and a “road map” for getting up to speed—can greatly accelerate a new director’s integration and contribution to the board’s work. Directors joining their first external board face the added challenge of understanding the unique role of a director—and how it differs from that of management—in helping to oversee and guide the business forward.
In today’s business environment—rife with disruption, uncertainty and turbulence—board members need to be ready to contribute from day 1. The onboarding needs for new directors will vary from director to director depending on a number of factors, including the director’s background and experience, and the role the director is expected to play on the board and board committees. As a result, even if there is a formal orientation process, a new director should be prepared to take responsibility for their own onboarding plan—working with management and others to determine how best to get up to speed on the most important issues quickly and build a strong foundation for informed oversight.
We suggest a number of elements for new directors to consider as part of an overall onboarding framework, including:
Ultimately, a robust onboarding process should help position a new director to engage in a healthy, ongoing dialogue with management, fellow directors, and others with insights into the company and the business environment in which it operates.
New director onboarding
How quickly a new director is able to contribute meaningfully to the work of the board and its committees can hinge directly on the quality of the onboarding process.
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