From Covid-19, through to Black Lives Matter and Brexit, boards are spending more time reacting to external forces than proactively shaping them, and at the core of these matters are stakeholder issues. Good stakeholder governance presents a unique opportunity for boards to take control of their agendas and be the good custodians they want to be.
We reached out to board members, governance professionals, CEOs, and chairs to understand how they're dealing with stakeholder conversations. What we found from our survey and in-depth interviews indicates boards are largely behind where they'd like to be. Here are the key reasons why:
Download our report for the full findings.
Stakeholders are increasingly front of mind for boards and the coronavirus pandemic has accelerated this trend. Purpose-driven organisations were nearly 3 times more likely to focus on their stakeholders as a result of the Covid-19 crisis than companies that don’t identify as purpose-driven.
But Not In the Board’s Plan
Most boards are committed to improving stakeholder governance but only a fraction have a clear plan on how to do this. Not all stakeholders are treated as integral to strategic planning and stakeholder KPIs tend to be an assessment of the past, rather than the drivers of the future.
With the Board Intelligence platform, it’s easy to ensure your stakeholders are at the heart of every board discussion and decision. Find out how Board Intelligence can help you embed your stakeholders into every aspect of your board meeting from the board agenda through to board papers and external reporting.