Today Directors are doing more than what is expected out of them. They are actively taking the initiative to participate in the day-to-day operations of the company. While most of the directors are occupying positions on multiple boards and committees, the job of getting involved with every company’s functioning could prove to be more than a handful. Their tight schedules are stretched even further. The demands of such challenges could prove to be very challenging.
The Directors, therefore, need to have a dynamic approach towards conducting their communication and their job. This helps them balance out their professional commitments to a great extent. The below-mentioned communication strategies can help them successfully navigate through the challenges of modern day multi-tasking:
Be observant and communicate freely
They should have a bird’s eye view of the organization’s functioning, its position in the market and the demands of the market. They should actively get involved in information gathering process. By talking to people who are executing different functions, they can understand the process better, get better insights, which had so far never reached them. This approach helps them to create and incorporate most effective strategies. i.e. Figuring out that with slight changes in the business model or business process, the organization could reduce wastage, achieve higher turnover more success on the financial front.
Clarity in goal definition
Before diving deep into every functionality, the Directors should have a clarity about the organization and individual goals. This will help them clearly defining their roles and responsibilities. They can get this clarity by asking certain questions to themselves, i.e…
- Is this beneficial for the organization?
- Will it add value to the organization?
- Can some new strategy or process be adopted to achieve better and efficient operations?
- What impact will the change in strategy have on the organization and individuals working towards organization goals?
- Which personnel is most suited for taking charge of a particular task and executing it?
Focus on important agenda points of a board meeting
The Directors should focus all efforts on the agenda points that most relevant to the organization. They can suggest the Company Secretary skip unimportant points or merge a few points and create a revised agenda. A consideration should be given to create standardized templates, to effectively manage important board functions and conducting the board meeting.
Build a strong work culture
Directors should communicate with their fellow directors and the company officials to exchange ideas and resolve pertinent issues that could be plaguing employee or company productivity. They should avoid wasting time and efforts on the trivial matter.
Directors must cultivate and encourage transparency amongst all levels of management. They must also ensure that personnel at every level of execution is kept in the loop about the job to be executed and objectives to be achieved. Such work culture and environment will greatly improve coordination amongst the personnel and timely escalation of issues that can put the organization in trouble, if not sorted-out in time.
Inculcate an environment for technology adaption
The increase in the volume, complexity and multi-authority compliance requirement, shifting to technology to manage the corporate affairs is now more of a necessity than a luxury. Game-changing technology has been designed to facilitate smooth functioning of board operations and organizational environment. Such technology could include automation of board meeting and compliance documents through board portal and compliance management software products, automation of accounting process, digitation of financial process, making digital signatures a part of authorization process etc. Directors must encourage different companies where they serve as directors to move on automation path.
A boardroom is nuclear of entire functioning of the organization. It drives and directs the organization on the growth trajectory, fulfills the expectations of all stakeholders. A Director plays a very important role in the functioning of an organization. By inculcating the above points in their professional life, the Directors can achieve the perfect balance between their duties towards different companies.