Do you have the right Board for a competitive edge??

COVID has been a powerful teacher, illuminating the values and possibilities that matter most in life and business. As the business landscape rapidly changes with the adoption of hybrid and remote work environments, it's crucial that your organisation's leadership, specifically your Board, evolves accordingly.

The Current Landscape: Are Your Boards Keeping Up?

While businesses have expanded their reach to attract the best talent from across the globe, boards—traditionally the gatekeepers of organisations—often lag. This disconnect between governance and management can have far-reaching consequences throughout your organisation.

Let's look at the latest data from the Australian Institute of Company Directors (AICD) on the top ASX 300 companies:

• 35.6% of board seats are held by women.
• 90% are Anglo-Celtic.
• 82% hold an undergraduate degree, 19% hold an MBA and 7% a PhD.
• 32% have finance experience and 6.8% have legal experience (board members with these skill sets are trending downward).
• 7% have technology experience and 5.2% have marketing/media experience (board members with these skill sets are trending upward).
• Most Directors have no formal governance qualification.
• The average age of a director is 60.15 years old.

Not-for-profit (NFP) Boards face similar challenges. While NFP Directors are often driven by a sense of purpose, the lower compensation or voluntary nature of the roles can deter younger professionals from participating, enhancing diversity issues.

Seizing the Post-COVID Opportunity

In a post-COVID world, professionals now have greater flexibility to work remotely and across borders. This means you have the opportunity to attract dynamic, young professionals who previously couldn't consider board positions due to time constraints.

Meet Karina Franke

If your Board needs to adapt to this new reality, look no further. We introduce Karina Franke, our Associate Director of Board Support and Business Solutions. With her guidance, your Board can level up its governance, tap into diverse talent pools, and drive success for your business.

Learn more about Karina Franke and how she can transform your Board: Karina Franke's Profile