There are fixed items on the board’s agenda that you cannot do without, for example agenda items covering continuing obligations emerging from regulatory or listing requirements, besides other fixtures such as quarterly management accounts and new business development.
Employee satisfaction directly affects customer satisfaction, thus positively affecting our business results.
Harmony at board level is critical to a company’s success, but perhaps even more important is the healthy relationship between the board of directors and the CEO.
Most companies start, grow and die in a two-act play. During the first act, the entrepreneurial drive of the founders champions the company’s launch of the business idea and pushes up its growth through a strenuous but engaging period of development.
Is it better to be in a family business? I ask the question to provoke some thinking.
Who does not wish to cling to a position which gives you status and an annual retainer? Many independent directors have been on the same board for ten years and over.
The Situation
The client, which has been in the business for over 30 years, sought to up-skill the firm’s management team by better equipping them to lead their respective teams and above all, their strategic awareness.
On a few occasions during a board meeting you feel that it would be better if there were no executives around to express an opinion or a point of view.
High staff turnover causes negative morale at the office. Demotivation and disengagement kick in, affecting the relationship with your customers, which will eventually affect your turnover and profit margins. All this leads to a serious negative impact on your company culture and also on your company’s reputation.
I was recently at a client and we discussed the importance of having a proper pay structure in place. The director explained that in today’s job market, they do not necessitate having one in place as they are constantly scrambling to pay more to entice prospective employees and/or retain their people.
