The Hybrid Boardroom - The Future is Here
In the midst of the COVID-19 pandemic, workplaces experienced a revolution.
Organisations, at every level, spent more time online than ever before, as remote team meetings, hiring, and collaboration all became the new normal. With this trend, senior management and executives across various companies worldwide have noticed the advantages of a hybrid working model – a model that combines both remote and on-site working.
For example, Amazon Inc. has announced this week that they will empower team heads in their American offices to decide how often their team members need to come to the office in person. This policy is compared to the previous company stance, which required all employees to return to the office by January of next year.
With that, boardrooms will also change.
It is important to note that regardless of whether a board meeting is conducted in-person or online, the objective remains the same. With that said, there are modifications needed to adjust for means of delivery, and not every company suits the same form of delivery.
A hybrid board calendar is about ensuring that discussions match the medium. Physical board meetings are best for strategic decisions and presentations by people who aren’t on the board, whereas remote board meetings are best for monitoring strategic process and performance updates.
As a general rule of thumb, physical board meetings take more time and require more organisation and planning. Remote meetings, on the other hand, are focused and to the point.
While change can be scary, boards that cling onto obsolete board calendars risk losing precious time and effort to meticulous planning and organisation. As a result, this may cost the organisation money and opportunities that it might not recover from.
So, if your organisation is still deciding on whether to stick to a physical board calendar or adapt to a remote/hybrid calendar, contemplate carefully and consider which method of operation will be more efficient and effective for your organisation.
Although the hybrid boardroom has been working wonders for some organisations, there are still a few key questions you must consider when deciding whether your organisation should adopt a hybrid boardroom:
- Are the ground rules clear?
- Is your boardroom technology well-established?
- Is your board calendar able to unlock the power of hybrid board meetings?
- Are the board documents supporting the conversation?
- Are you providing your board with information or only data?