Optimizing Board Meetings with the President/CEO and Management Team: Frequency and Best Practices

Effective communication and collaboration are critical for the success of any organization. This is especially true for the relationship between the board of advisors and the president/CEO or the management team. Deciding on the appropriate frequency of board meetings is a key factor in ensuring that the board can effectively support and guide the leadership. In this article, we will explore the common practices and best practices for determining the frequency of these critical meetings.

The Role of the Board of Advisors

While each of my holdings is a private company, I don't have a Board of Directors. Instead, I have a Board of Advisors, which myself and my management team meet quarterly. This regular meeting allows us to align on strategic goals, discuss progress, and address any pressing issues or concerns.

Factors Influencing Meeting Frequency

The frequency of board meetings with the president/CEO and management team is highly dependent on the organization's specific goals and the level of involvement desired by the board. Here are some key considerations:

Aggressive Goals Require More Frequent Meetings

If the organization is setting aggressive goals or facing significant challenges, more frequent meetings (e.g., monthly) may be necessary to stay on top of progress and ensure alignment. Meeting monthly allows the board to provide more frequent feedback, make timely adjustments, and actively participate in the strategic planning process.

Standard Cases Still Require Regular, Scheduled Meetings

For organizations with more stable conditions or less aggressive goals, meetings can be reduced to a standard two or three times a year. These meetings generally occur at key times: the start of the year, mid-year, and at the end of the year. This cadence allows for an evaluation of progress against the year's objectives and planning for future strategies.

Balancing Committee Work and Board Meetings

Within the organization, various committees (such as finance, marketing, and operations) work throughout the year to support strategic initiatives. The frequency and intensity of their work must be taken into account when deciding on the frequency of board meetings. Ensuring that board meetings don't interfere with the effectiveness of these committees and vice versa is crucial.

The Standard and Norm for Preparatory Staff

The preparatory staff typically adheres to a quarterly standard for board meetings. However, it is not uncommon for these meetings to occur more frequently, especially when the organization is facing significant changes or challenges. Monthly meetings are within the norm for organizations that need more frequent updates and more active participation from the board.

Conclusion

Setting the frequency of board meetings requires careful consideration of the organization's goals, the level of involvement desired by the board, and the workload of other committees. Balancing these factors ensures that board meetings remain productive and support the organization's success. Whether monthly, quarterly, or a combination of both, regular communication and collaboration between the board of advisors and the president/CEO or management team are paramount.