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Boardroom behaviour and the QCA Corporate Governance Code
The QCA Corporate Governance Code states that the board of a company is responsible for setting the vision and strategy for the company to deliver value to its shareholders. But how do small and mid-sized companies and their advisors think boards and directors are performing in relation to this in the real world?
A recent QCA/YouGov Small & Mid-Cap Sentiment Index presented an opportunity to explore the role of NEDs and examine board effectiveness from the viewpoint of small and mid-size companies and advisory firms.
Recently, consulting firm Korn Ferry produced a report on the latest trends in board leadership in the largest publicly traded US companies.
2017 Report from Korn Ferry on latest trends in board leadership
“These findings are surprising, really, given the importance that strong leadership has on the long-term performance of organizations. Research shows that companies with sound succession plans tend to do better.”
2014 Report on Senior Executive Succession Planning and Talent Development, Graduate School of Business, Stanford University
Feedback Statement: UK Board Succession Planning Discussion Paper, May 2016.
‘Few people start their careers, aspiring to be a Non-Executive Director. If you have the drive, the determination and the tenacity – the chances are you’ll have spent your career pushing towards, and achieving CXO status. To do this, you’ll have asserted yourself in some way, perhaps a typical “alpha” male or female. The one who inspires his / her team, drives organisational change and creates an environment in which people thrive.’
Ciaran Fenton, The Seven Deadly Sins of New and Aspiring NEDs – Frightening the CEO
General Secretary of TUC, Frances O’Grady in talks with talks with Prime Minister Theresa May regarding the current status of workers in the UK: ‘Speaking to The Mirror ahead of TUC’s annual conference in Brighton, O’Grady promised to hold May to her promise of making Britain “a country that works for everyone”.’
Emily Douglas, ‘Workers need a place in the Boardroom’
Every year the Henley Centre for HR Excellence completes two pieces of original research. In 2014 they looked at what the key internal stakeholders – CEOs – wanted from HR as a function and as individuals. Over the last few months they carried out a number of interviews with Chief Executives and their HR Directors (HRDs) to compare and contrast their views. What CEOs want from HR – It’s way more than HR, but above all it’s integrity, written by Nick Holley
‘Don’t spend your time guessing what your CEO wants from the HR function. Here are the attributes top HRDs need.’
‘You aspire to lead with greater impact. The problem is you’re busy executing on today’s demands. You know you have to carve out time from your day job to build your leadership skills, but it’s easy to let immediate problems and old mind-sets get in the way. Herminia Ibarra–an expert on professional leadership and development and a renowned professor at INSEAD, a leading international business school–shows how managers and executives at all levels can step up to leadership by making small but crucial changes in their jobs, their networks, and themselves.’
‘Advances in technology, shifts in demographics, and the constant competitive necessity to upgrade workforce skills are disrupting corporate learning, including learning in finance. These forces are pushing companies to develop new ways to put employees in charge of the learning experience and foster a culture of learning throughout the organization.’
‘To seize new opportunities for sustainable growth and manage heightened risks, boards of directors at high-performing organizations are pulling CHROs much deeper into business strategy – and far earlier in the process.’
Deloitte: How Boards are Changing the HR Game – dttl-humancapital-trends2-boards-no-exp
‘Greater responsibilities require increased commitments of time and energy. To help CEOs and board chairs, as well as executives and directors, build strong boards, this CEO guide synthesizes multiple sources to make quick sense of complex issues in corporate governance, while focusing on four areas that are essential for building a better board.’