Survey Says...
Board Management Software is Pivotal
OnBoard’s annual Board Effectiveness Survey found an emphasis on increasing board engagement, a focus on strategic imperatives, and a desire to extend the use of technologies that can help achieve both.
The Score Card
Board's Using Board Management Software Report...
85% Confidence in the Security of their Board Materials
80% Say They're Prepared for Board Continuity
69% Have More Effective Meetings
66% Say They're Effectively Tackling ESG
61% Report More Effective Board Recruitment
63% Say Their Board is More Collaborative
+15%
Better Than No Technology
+15%
Better Than No Technology
+11%
Better Than No Technology
+11%
Better Than No Technology
+5%
Better Than No Technology
+3%
Better Than No Technology
Pandemic pressures and technological advances have changed the workplace landscape in record time. International supply chain issues feed inflation, which feeds political and economic volatility. Few had foreseen a land war in Europe, the ramifications of which have yet to play out.
Global upheavals will continue to impact organizations for the foreseeable future, continuing the workplace, supply chain, economic, and geopolitical disruptions with which we’ve grown too familiar. With a focus on board effectiveness and organizational strategy, survey respondents are clearly cognizant of the challenges facing organizations in this volatile environment.
Most have relied on technology to help weather the last two years. Now, a majority look to that same technology for additional efficiencies, security, and the enhanced engagement and collaboration that help enable a more strategic board focus.
Defining Board Effectiveness
Say to measure effectiveness, it is important to focus on Strategic Imperatives
Say to measure effectiveness, it is important to focus on Governance and Continuity
Which of the following is most important when you are measuring board effectiveness?
Chief executives are most focused on strategic imperatives,
Ranking it #1 over 57% of the time
In just a few months’ time the COVID-19 crisis has brought about years of change in the way companies in all sectors and regions do business. According to a new McKinsey Global Survey of executives, their companies have accelerated the digitization of their customer and supply-chain interactions and of their internal operations by three to four years. And the share of digital or digitally enabled products in their portfolios has accelerated by a shocking seven years.
– McKinsey, “How COVID-19 has pushed companies over the technology tipping point—and transformed business forever
Technology is Changing Boardrooms
Technologies implemented during the pandemic continue to accelerate digital transformation throughout the organization, and boards are no exception. As boards grow more accustomed to and comfortable with technology tools, they’re seeking additional ways to leverage them to maximize efficiency and effectiveness.
Primary Drivers of board engagement
Virtual & Hybrid Meetings Are Here To Stay
Over half of respondents will increase use of board tech in the next 18-24 months Half of those without board management software will increase their use of board tech in the next 18-24 months Those with board management software are 13% more likely to increase use of tech than those without
Board management technology is being used to streamline onboarding of new members and familiarize them with the board’s current state, while ensuring that knowledge and information are never lost, but continue to contribute to organizational maturity. These incremental gains across a broad swath of board management priorities work to provide a compounding effect that accounts for those with board management software reporting increased board effectiveness.
81%
“To help guide their organizations through current upheavals, boards across every industry and organization need to utilize all the tools at their disposal to increase board member engagement and focus on the strategic Imperatives that enable the organization to thrive—even in the midst of uncertainty.”
Survey Participants
The 419 annual survey participants, principally director level and up, representing global industries from non-profits and education to healthcare and finance, provided insight into the value and power of increased board effectiveness, and the factors that create it.
Industries
Role
Region
Use of Technology
Meet OnBoard
Why do leaders overwhelmingly select OnBoard? Because it’s a purpose-built solution made to help them focus on their most important work – to service stakeholders efficiently, effectively, and collaboratively, all with the highest level of security and compliance that progressive governance requires.
69% Declare Their Meetings Effective
Maximize The Value of Your Board's Time
OnBoard frees boards and leadership teams to make better decisions and pursue bold action.
80% Better Prepared for Board Continuity
Prepare For The Future With Succession Planning Insights
Engage on the long-term strategic direction of both your company and your leadership talent.
66% Say Their Effectively Tackling ESG
ESG Leadership starts at the top. Prove your serious by using a platform that’s saved over 8,000,000 trees worth of paper.
85% Confidence In Meeting Material Security
Mission-Critical Security Compliance
OnBoard’s best-in-class security capabilities ensure every customer, large or small, benefits from an enterprise-grade, industrial-strength, penetration-tested architecture.
63% Say Their Board is More Collaborative
Real-time decisions and sustained collaboration
OnBoard’s best-in-class security capabilities ensure every customer, large or small, benefits from an enterprise-grade, industrial-strength, penetration-tested architecture.
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