These methods are crucial in ensuring transparency is fostered and collaboration enhanced within the boardroom setting .
While additional considerations are increasingly coming into play , leaders must also realise and recognise that a significant majority of board members are primarily interested in seeing data to support growth , opportunities and risks .
“ Communicating in monetary terms is critical to ensuring your message is received and understood by board members ,” Kapoor continues . “ This is especially true when communicating the potential risks associated with the business , so you can take a calculated risk that drives growth with your eyes wide open .”
Pressure on leaders to set example In business , the buck ultimately stops with those at the very top of the tree .
Leaders know the responsibility is on their shoulders to set a good example to the rest of their organisation in various facets , including when it comes to establishing good practice across key talking points of the day like sustainability and inclusivity .
To strike the right balance , it ’ s important to tailor communication to the board ’ s specific needs and priorities
Gaurav Kapoor Co-CEOof MetricStream
The same goes for transparency which , if recent research from companies including Deloitte and Slack is anything to go by , is being prioritised by a higher proportion of employees than ever before .
Fostering a culture of transparency works both ways between the CEO and the board . When leaders place extra weight on openness , board members are better placed to provide feedback and identify areas where there is room for improvement . On the other hand , a more transparent board often commands greater respect and public trust .
Kapoor ’ s belief , from the CEO ’ s perspective , is that leading by example in terms of transparency sets a positive tone for the whole organisation .
“ The CEO ’ s actions influence not only the board , but also the entire corporate culture ,” he says .
“ Transparency , demonstrated through open and honest communication , builds trust among stakeholders and investors , helps align the organisation around shared values , fosters accountability and upholds ethical standards – all of which are vital for the success of a company .
“ Also critical to building trust is ensuring your leaders feel empowered to make decisions and have a high level of accountability .”
businesschief . com 67