OnBoard Releases Results from First Annual Board Effectiveness Survey
Survey respondents indicate that digital meetings during the COVID-19 pandemic created more effective, collaborative, and strategic boards
INDIANAPOLIS, May 4, 2021 /CNW/ -- OnBoard, the award-winning board management solution that simplifies and secures board meeting communication and collaboration, today released the findings from its first annual OnBoard Board Effectiveness survey. Results show that between March 2020 and March 2021, boards became more effective, more collaborative, and spent more time on vital strategic issues than prior to the pandemic – and that the shift to digital board meetings was a primary facilitator of these outcomes.
The survey included responses from more than 282 board directors, administrators, and staff members in more than six countries and spanned numerous industries, including nonprofits, higher education, financial services, healthcare, professional associations, and others.
"Many boardrooms have not experienced the wave of digital transformation that's occurred over the last decade – but the pandemic changed everything," says OnBoard co-founder and CEO Paroon Chadha. "The survey results show that digital boardrooms are now a demonstrable best practice, enabling boards to be better prepared, more productive, and more effective at governance."
Digital Boards are More Effective
Board Effectiveness survey respondents confirmed:
Survey results also addressed the need for greater board diversity and focused on critical issues resulting from the widespread social and political turmoil of late. Less than one-quarter of respondents (21%) rated their boards as very diverse, while another 39% said their boards have discussed the issue but have not developed plans to address diversity. Additionally, 87% said their boards do not have committees dedicated to addressing environmental, social, or governance issues, and only 9% have plans to establish such committees in the future.
"The pandemic forced board executives, directors, and administrators to shift their operating models overnight, while also addressing a sea change in social and economic conditions over the last year," Chadha says. "While it's clear that many boards are initiating a dialogue around board diversity and better representation, the impact is still lacking."
Continuing Digital Transformation
"Ultimately, the pandemic has accelerated the digital transformation of boards and helped them to realize the many benefits that technology has to offer," Chadha says. "Board leaders now face the critical decision of whether to lean into this digital transformation or revert to a traditional governance approach."
To download the full results of the Board Effectiveness survey report, visit onboardmeetings.com/effectiveness
Learn more about OnBoard's award-winning board intelligence platform at onboardmeetings.com.
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