OnBoard Research Finds Increased Engagement Among Boards is Driving Effectiveness in 2022
Survey respondents indicate how technology transforms the board
We see from the data that technology has not only improved board engagement but is helping to drive results at these organizations.
INDIANAPOLIS – April 14, 2022 – OnBoard, the board intelligence platform used by more than 3,000 boards of directors in more than 30 countries, today released its 2022 Board Effectiveness Survey identifying key challenges board directors face in the current environment and the role technology plays in effective board management. Fully 69% of respondents reported increased board effectiveness in the past year, with 74% of boards that use board management software (BMS) saying they were more effective in the last 12 months, compared to only 63% who didn’t use BMS. Respondents credited the use of Board Management Software as the primary driver for increased engagement and effectiveness among boards members, the study showed.
“Our research captures the reality of today’s board members as they keep up with the ever-changing work environment of recent years and new demands from the market,” said Paroon Chadha, CEO and co-founder at OnBoard. “Just like members of the organization, boardrooms equally need sophisticated tools that can provide board oversight in the most effective, digitally driven manner. We see from the data that technology has not only improved board engagement but is helping to drive results at these organizations.”
The study also showed the shift to remote work has highlighted the need to attract younger and more diverse board members who are digital natives. Like the organizations they support, the transition to hybrid work has led board leaders to adopt new software and create best practices for more effective governance, transforming governing boards.
The global survey is based on data collected from more than 400 board directors, administrators and staff members spanning numerous industries, including nonprofits, higher education, financial services, health care, professional associations, and others.
- 69% of all respondents noted increased board effectiveness in the last 12 months.
- 62% noted increased collaboration when BMS is used.
- 74% of boards that use board management software said they were more effective in the last 12 months, compared to only 63% who didn’t use BMS.
- The three primary drivers of increased board engagement were, in order, “increased engagement of board members,” “better preparedness,” and “increased BMS use.”
- 91% of BMS users said they were very confident in the security of board communications today, compared only 78% for those who didn’t use a BMS solution
- 81% of respondents will use digital tools to meet remotely or via hybrid methods in the next 6-12 months.
- Only 44% of respondents say they’re effective at attracting younger board members, compared to 62% who say they’re effective at attracting diverse board members and 80% who say they’re most effective at creating board continuity.
- 76% of respondents say to measure effectiveness, it is important to focus on strategic imperatives, and 52% say to focus on governance and continuity.
To download the full results of the Board Effectiveness Survey report, visit https://www.onboardmeetings.com/2022-survey/