What does it mean to find your voice at the boardroom table when you are a new board member appointed to a board that has longstanding relationships? Or a new Chair of the Board is appointed and you have never worked together? Or when you are the “token” woman at the boardroom table? How do you break in with credibility and build trust with your board colleagues? There are five tips I would like to share in helping you find your voice at the boardroom table: 1. Onboarding An onboarding process is set up to ensure that new board members familiarize themselves with the company, the industry it [...]

  Written by: Debbie Stojanovic, CEO, Nealon Consulting & Deborah Rosati, Founder & CEO, Women Get On Board Diversity, and gender diversity in particular, is a top agenda item in boardrooms today — as it should be. It’s a priority not only because there are now legislative and regulatory changes that require it, but also because it’s just good business practice. Research shows that the right board composition can enhance decision-making processes and augment an organization’s performance and market reputation. [note] Menhi, Ekta & Dart, Beatrix, 2018/02/18, Globe and Mail, OpEd, More work must be done to boost gender diversity in Canada’s boardrooms, Link. [/note]  Can an improperly composed board [...]

Joining a board is about fit and style. The Board wants to make sure that your style will fit in. To help them decide, think about your network and how you might be connected to any one of the Board members. This is what I call “network mapping.” Use your network to map how you might be connected to members of the Board. The more connections you have to the Board, the more comfort they can get on how you will fit in. Don’t be afraid to ask for introductions! To help you map your network, it is important to understand who can help connect you to a [...]

I began my board journey without the thought of diversifying my board portfolio. In saying “board portfolio”, I am referring to the various boards you lead and serve on. These boards collectively make up your board portfolio. Analogous to your investment portfolio, you want to be strategic in developing your board portfolio to accurately reflect your risk profile and the stage/age of your career. Just like your investment portfolio, you should monitor and review your board portfolio on a regular basis to ensure you are getting a return on your board portfolio. When thinking of diversifying your board portfolio, here are three key areas for consideration: Consider the [...]

I'm often asked about whether an emerging company should create an Advisory Board versus forming a governance fiduciary board. My response to entrepreneurs thinking of creating an Advisory Board is to be strategic in the formation of your Advisory Board. An Advisory Board is not a Board of Directors with legal and fiduciary responsibilities. In contrast, an Advisory Board does not have any formal legal responsibilities and liabilities. Rather, an Advisory Board is created by the CEO of the company to get advice and support. Over the years I have been invited to serve on Advisory Boards & Councils and have enjoyed providing strategic advice and guidance. More [...]

There is a lot of focus currently on the topic of diversity on boards. The underlying premise for diverse boards is no longer about good corporate citizenship but rather about contributing value to a business, and that makes good business sense. Top 5 Business Reasons for Diverse Boards Improve corporate financial performance. Studies have shown that companies with more diversity on their board have had higher financial performance in three important measures: Return on Equity, Return on Sales, and Return on Invested Capital. Enhance decision-making quality. Diversity of thought comes from, race, gender and ethnicity and extends to age, culture, personality, skills/expertise, educational background and life experiences. More [...]