鈥婬ow quickly a new director is able to contribute meaningfully to the work of the board and its committees can hinge directly on the quality of the onboarding process.
Just how聽steep that learning curve is鈥攁nd how quickly a new director is able to聽contribute meaningfully to the work of the board and its committees鈥攃an聽hinge directly on the quality of the onboarding process.
Understanding the business鈥攊ts strategies, risks,聽financials, operations, management team, workforce,聽and culture, and its competitive landscape and聽stakeholder interests and expectations鈥攊s a major聽undertaking for new directors. Developing that聽understanding of the business and the external forces聽impacting the business鈥攁s well as the priorities聽and culture of the board and its committees, takes聽time. A robust onboarding process鈥攊ncluding聽essential information and briefing materials, quality聽discussions with key people, and a 鈥渞oad map鈥� for聽getting up to speed鈥攃an greatly accelerate a new聽director鈥檚 integration and contribution to the board鈥檚聽work. Directors joining their first external board face聽the added challenge of understanding the unique聽role of a director鈥攁nd how it differs from that of聽management鈥攊n helping to oversee and guide the聽business forward.
In today鈥檚 business environment鈥攔ife with disruption,聽uncertainty and turbulence鈥攂oard members need聽to be ready to contribute from day 1. The onboarding聽needs for new directors will vary from director to聽director depending on a number of factors, including聽the director鈥檚 background and experience, and the聽role the director is expected to play on the board聽and board committees. As a result, even if there is聽a formal orientation process, a new director should聽be prepared to take responsibility for their own聽onboarding plan鈥攚orking with management and聽others to determine how best to get up to speed on聽the most important issues quickly and build a strong聽foundation for informed oversight.
We suggest a number of聽elements for new directors to consider as part of an聽overall onboarding framework, including:
Ultimately, a robust onboarding process should聽help position a new director to engage in a healthy,聽ongoing dialogue with management, fellow directors,聽and others with insights into the company and the聽business environment in which it operates.
New director onboarding
How quickly a new director is able to contribute meaningfully to the work of the board and its committees can hinge directly on the quality of the onboarding process.
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