The following article previously appeared in the St. John's Board of Trade, Business News, August / September 2015 issue.
The search has begun for a new leader. Your team wants someone with presence and profile, someone charismatic who is widely revered, and maybe someone who knows their way around a golf course. The wish list is likely long, but is it the best list to ensure “the right fit” for your organization?
Boards are as diverse as the organizations they serve. However, there are a number of common challenges boards face including an evolving regulatory environment, increasing role complexity and rising demands for transparency and social responsibility. As the expectations of boards increase, so too does the importance of ensuring that your board is up to the challenge. In our experience, there are six critical steps to building an exemplary board for today’s challenging board rooms.
Leaders often see the end of the calendar year as a time of planning and fiscal review. This comes naturally to most leaders. However, what does not, or is often not welcomed, is the most dreaded component of the talent cycle – annual performance reviews. It harbours fear in some of the most seasoned leaders, offering relief only when it is ‘finally over.’ On occasion, I have met leaders who have embraced and mastered the talent management agenda.
