Nicholas Barnett, Executive Chair of Board Surveys, Board Benchmarking and Insync, recently led an interactive discussion on critical governance topics at the Governance Institute of Australia’s Annual Conference. The session focused on how boards can measure and improve their effectiveness, enhance board composition and renewal and refine their purpose, strategy and priorities.
Before the conference, a diverse group of attendees—including directors, company secretaries, executives, and consultants—participated in a survey that provided valuable insights into board performance and effectiveness. With 75 respondents, the survey revealed important trends, including areas where boards can significantly improve, such as diversity, director recruitment processes and alignment on strategy.
One of the standout findings was that many boards lack diversity, both in terms of gender and broader multi-dimensional diversity, such as age and skillsets. The survey and conference discussions also highlighted the need for better board renewal processes and ensuring boards are equipped with directors who have deep expertise in the organisation’s core business.
The report further explores how boards can improve their focus on purpose and strategy. Attendees underscored the importance of engaging in robust discussions before signing off on strategic plans and achieving alignment on key priorities.
In addition to survey data, the report provides practical checklists for boards looking to improve their composition, diversity and overall effectiveness. It serves as a roadmap for boards to align their focus, enhance their performance and ultimately drive better outcomes for their organisations.
This comprehensive report reflects the key learnings from the conference and offers actionable steps for boards to improve and ensure they are positioned for future success.
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