Before the board meeting
To get ready for your board meeting, take care of these aspects beforehand:
Create an agenda
The foundation of any productive board meeting is a clear and concise agenda that outlines the topics to be discussed, along with allocated time slots for each subject. It’s good practice to distribute the agenda to board members well in advance so they have sufficient time to prepare and make effective contributions.
Manage time zones
For Australian businesses, in particular, time zones can be tricky to navigate. If you have board members in states on the other side of the country, or perhaps even abroad, make sure you factor in the time difference and try to schedule the meeting at a time that’s convenient for all participants to ensure maximum attendance.
Organise the venue
Whether in-person, virtual or a combination of both, a suitable venue should be secured for any board meeting. This means that any necessary equipment, such as projectors or whiteboards, is available, and your preferred technology – including any software you may be planning to use – is up and running.
Consider board meeting software
Organising and running a board meeting can be an overwhelming task. This is where board meeting software may come in useful. Dedicated board meeting software can help you with inviting board members, setting an agenda, sharing documents, recording minutes, taking votes or even setting up video links to remote participants. This can make it a lot easier for you to facilitate everything.
Related: Guide to HR software providers in Australia
Share relevant documentation
Always compile and distribute all relevant documents, such as reports or presentations, prior to the meeting. In this way, you can be sure that all board members are well-informed and have the opportunity to form and share their opinions on the agenda items.
Confirm attendance
Try to contact all board members in due time before the meeting to confirm their availability and attendance. In case there are any unavoidable absences, you may want to consider rescheduling the meeting or look into remote participation options so that everyone can participate in one way or another.
Related: 7 Keys to Running Successful Business Meetings
During the board meeting
Here’s what a typical board meeting might look like:
Cultural sensitivity
Before you even start the meeting, acknowledge and respect the board members’ diverse cultural backgrounds. Always strive to foster an inclusive environment that values different perspectives and experiences. Importantly, all meetings in Australian organisations should start with an Acknowledgement of Country as an opportunity to acknowledge and pay respect to the Aboriginal and Torres Strait Islander people.
Take minutes
It’s essential that minutes are taken at every board meeting to ensure transparency and traceability. Although any board member can be tasked with taking the meeting minutes, this is usually handled by the board secretary.
Welcome and introduction
Start the meeting with a friendly but professional welcome and introduction, and make sure all attendees are acquainted. Briefly outline the objective and agenda of the meeting.
Review of previous minutes
Next, review the minutes from the previous meeting to refresh everyone’s memory or bring all participants up to speed. Point out any unresolved matters and confirm any action items identified last time.
CEO and management report
Give the CEO and any key executives the opportunity to provide updates on the organisation’s performance, financial status and current initiatives. This will set the context for the strategic discussions and decision-making later on.
Committee reports
If applicable, committee reports can be presented at this stage. These typically highlight different committees’ key findings, recommendations and actions taken since the last meeting. Committee reports can serve to increase transparency and give all board members insight into the work of specialised departments.
Address agenda items
Throughout the board meeting, address each agenda item methodically and encourage open and constructive discussions. Take care to allocate enough time for thorough analysis and exploration of each topic.
Discussion and decision-making
Clarify whether each agenda item requires a vote, consensus or further investigation. Always ensure that all board members get to voice their opinions or concerns, and encourage them to share their personal insights based on their experience and industry know-how. Discussions will typically cover strategic decisions, market trends or potential opportunities and challenges for the business.
Risk management and compliance
Next, review the company’s risk management process and compliance measures. Address any potential legal or regulatory concerns and ensure that your organisation’s practices follow industry standards.
Future agenda items
Finally, identify and discuss potential agenda items for future meetings. Such longer-term planning can help board members stay proactive and focused on the company’s strategic goals.
Related: 7 Effective Skills to Help You Become a Better Leader
After the board meeting
Once the meeting is wrapped up, there’s still some work left to do. Consider the following:
Action item review
Summarise the key decisions and action items that arose from the meeting and distribute them to all attendees in a post-meeting report. This can be done as part of the meeting minutes.
Follow-up and accountability
Assign clear ownership to every action item and set deadlines for their completion, so everyone is on the same page. Regularly track and communicate any progress to ensure continued accountability and timely execution of all tasks.
Document archiving
Always keep structured records of all meeting minutes, reports, presentations or other documents used in the meeting. These archives can serve as a valuable reference for future decisions and company audits.
Feedback and evaluation
Within a day or so after the meeting, ask board members to share their feedback on the meeting’s structure, content and overall effectiveness. You can then draw on this input to continually refine and improve your board meeting process, where necessary.
Related: Effective One-on-One Meetings for Managers
The wealth of detail in the checklists we’ve put together makes clear just how important effective board meetings can be. In fact, they are a cornerstone of successful organisational governance and strategic planning . From pre-meeting preparations to post-meeting follow-ups, each step is crucial in ensuring that board meetings are efficient and productive. By putting in place a comprehensive checklist, businesses can streamline their board meeting process, promote fruitful discussions and ultimately drive informed decisions. So, consider incorporating these guidelines into your board meeting process to get the best out of your leadership team.
