Digoshen Board Forum Webinar March 30 on “Boards and Virtual Work”
The Fortnightly Digoshen Board Forum Webinar series is designed to connect practicing board members globally with an objective to help them share insights and to find answers on how to:
- stay on top of the most current business impacting topics
- inspire improved board leadership and balance of guidance and supervision
- facilitate speed fo sharing with experienced network and provide opportunity for support exchange
We know that increased speed, uncertainty, business complexity, and new opportunities will continue to put unprecedented challenges on practicing board members globally.
It’s truly time to rethink how to practice board work and how to ensure corporate governance in a disrupted and digital world.
Summary ‘Boards and Virtual work’ Webinar on March 30, 2020
At our first international webinar, ‘Boards and Virtual work’ we focused on how practicing board members are seeing and experiencing new challenges, but also opportunities, that will have a long-lasting impact on the way of working moving forward.
With an objective of helping boards to be better prepared for sudden changes, we touched upon a series of good examples and pitfalls on how to
- host virtual board meetings, as well as digital tools, platforms and processes to make them more effective.
Example fact Currently 75% of the virtual board meetings are video meetings, where 31% have had full board meetings virtual and 50% used it mostly for shorter board meetings. The role of the chair becomes even more important and there are legalities to consider in operating virtual board meetings.
- effectively have in-between board meeting interaction
Example fact Currently the 82% of the board members have in-between contacts with other board members and 82% have contacts with the CEO. And the amount of in-between contacts is increasing, with the pitfall that the view might no longer be the same.
- prepare for virtual & hybrid AGM’s connected to the legal aspects for different countries.
Example fact Currently 50 % are looking to postpone their upcoming AGMs and 25% are exploring a mix of proxy and online voting. The legal system for adapting to virtual AGMs are changing with temporary laws in many countries, and very hard to keep up with.
The webinar was facilitated by the Digoshen Impact Partners, a group of practicing board members with international leadership experience, based out of Nordics, Netherlands and New Zealand. At this webinar, we had 19 participants from 9 countries, operating at boards headquartered in 10 different countries, sharing insights on new developing board practices.
Key findings from the webinar participants was that
- clarity (topics/content and rules/expectations) and better dialogues is needed to secure effective and efficient virtual board meetings, and insights to local legalities are crucial
- trust and better communication policy and strategy during the in-between meeting interaction is the enabler.
More information and insight about the above and thoughts and experiences connect to virtual and hybrid AGM’s, their re-innovation and why better adaptability will be required when it comes to both organization/business and human/leadership topics can be found at Digoshen.com and will be covered in our upcoming Digoshen Board Forum Webinars.
We welcome practising Board Directors to the next
Digoshen Board Forum Webinar
”Bordwork in Uncertain Times” on April 14, 12-13 CET.
Read more and >> sign-up here
And also pencil in the next following board webinar on April 27, 12-13 CET on the topic of “Boards for Short and Long Term”
Connect with the Digoshen Impact Partner Team