Boards of the future: composition in the post-Covid environment
Date: 11 May 2020
Author: Imogen Sanders, Senior Consultant at Perrett Laver
that we feel will enable success in this changing world. However, a number of professional competencies are also rising to the top of skills matrices. As ever, what your Board needs will remain unique to your context and individual circumstances, but we offer here some reflections with regards to the most requested skills in our current board searches.
Whether found in specialist firms, or from across public relations, security, defence, health, or international relief, experts have a common set of skills. They tend to be characterised by the ability to make quick decisions based on limited information; problem-solving abilities and tactical knowledge; and calmness and level-headedness. Despite being willing to act without consensus when needed, the best such leaders in these fields are not egotistical but rather outcome-focused. At board level, their strong prioritisation skills and ability to work at speed, and understanding of common missteps at times of pressure, are now hugely sought after.
Risk and Audit
Frequently coupled with finance, it is usual for boards to seek experienced professionals able to monitor, review, and challenge in relation to external and internal audit, controls, management systems, and compliance. At present, appreciation of risk reporting, risk appetite and tolerance are highly desirable. Whereas focus was until recently heavily on diversification of income, fundraising, and sales and revenue generation, currently we see a slight steer towards financial viability, reporting, efficiency, control and forecasting.