A Gartner Survey finds Just 38% Board Directors meet High Quality Standards
A recent Gartner survey found that only 38% of company boards have high-quality directors and positive social dynamics. The survey, conducted in February 2023 with 92 general counsel participants, revealed that despite efforts to enhance director quality, there is still room for improvement.
Effective boards are crucial for holding executives accountable and contributing positively to corporate governance, strategy, and risk management. However, 50% of general counsel reported that their boards are not fully effective in these areas.
To boost board effectiveness, Gartner recommends focusing on director sourcing and recruiting, which has the potential to improve quality and social dynamics by 42%. General counsel should collaborate with the nominating committee chair, identify future director skills needed with the CEO and CHRO, and educate the board on the importance of diverse perspectives.
By taking these actions, organisations can create a well-crafted portfolio of potential directors, improving the board’s ability to navigate challenges. Gartner clients can find more insights in the report titled “Critical Actions GC Can Take to Improve Board Effectiveness in 2023.”