NFP Compensation Insights | April 2024
SUBSCRIBE TO NFP COMPENSATION INSIGHTS »
The Importance of Effective Board & Committee Meetings
Running effective board meetings plays an important role in good governance practices. NFPCC has spent a lot of time in boardrooms over the years and while each meeting is different, one common factor remains – preparation is key. With some thoughtful planning you can ensure a fruitful discussion to maximize focus and productivity in your organization.
In this month’s Compensation Insights, we discuss best practices and strategies for conducting effective board and committee meetings. We hope you find the information helpful as you prepare for meetings throughout the year. As always, don’t hesitate to reach out to NFPCC for expert guidance in your board of director governance or compensation strategy.
By Kyle Lamport
NFPCC attends over 100 board and committee meetings annually. Each meeting is unique; however, there is a key factor that makes a meeting and its discussions fruitful: preparation. Benjamin Franklin once said, “failing to prepare is preparing to fail.” NFPCC agrees with this adage, as an effective meeting can leave your team focused and energized. In fact, a single good or bad meeting can have a major impact on participant morale and even corporate initiatives, both short and long-term.
How to Run a Board Meeting and Set the Stage for Effective Meetings
Convening an average of 9.7 meetings annually, board meeting management plays a pivotal role in corporate governance. As per a staggering statistic, 65% of non-executive directors are burdened with additional commitments which often involve the intricacies of meeting management.
Corporate Secretary Guidelines: Taking Notes and Preparing Official Minutes
Meeting minutes of the board of directors, which usually are prepared by the corporate secretary, can play a crucial role in a government investigation or civil litigation relating to a decision or indecision of the board of directors or the knowledge of an individual director.
NEWS & UPDATES
When was the Last Time You Evaluated the Competitiveness of Your Director Compensation Program?
Regulations involving director pay have changed and the responsibilities and risks associated with directorship in organizations have evolved as well. As a result, the compensation strategies that worked in the past may no longer be considered appropriate.
Our experienced director compensation consultants can structure a fair and balanced compensation program that addresses the rapidly changing roles and responsibilities of board members while taking emerging governance concerns into consideration.
