The role of a board director has always been demanding, but the volatile and unpredictable nature of today’s business environment has intensified the pressure on boards. A recent McKinsey global survey of board members and executives highlights that boards are facing increasing complexity in their roles and responsibilities. The article emphasizes the importance of effective board-CEO collaboration in navigating this complexity and creating long-term value for organizations.

While most board members recognize the value of collaboration, only a third of survey respondents report that their boards and CEOs work together very effectively. The survey identifies a strong correlation between effective board-CEO collaboration and high board impact on value creation. Directors who report effective collaboration with their CEOs are more likely to view their boards as highly effective in various areas, particularly in strategic activities that require close collaboration with management.

The article outlines three key strategies for boards to enhance collaboration with CEOs:

• Establishing efficient and effective board processes: Well-defined processes, including a structured board calendar and clear agendas, help avoid unnecessary delays and discussions, ensuring that board meetings are productive and focused.

• Prioritizing communication: Open and frequent communication between the board and the CEO, both during and between meetings, is crucial for alignment and effective decision-making. This includes leveraging multiple communication channels and ensuring transparency from the CEO.

• Fostering a strong board culture: A culture of trust and respect in the boardroom is essential for open and constructive dialogue between the board and the CEO. Building this culture often involves informal interactions and team-building activities that promote positive relationships.

By implementing these strategies, boards can build strong partnerships with CEOs and effectively manage the growing complexity of their roles, ultimately driving long-term value creation for their organizations.

Article: Better together: Three ways to boost board – CEO collaboration.  McKinsey & Company.