As the population continues to age, it is not only affecting the workforce but also the board rooms. A recent study proves that board rooms are skewing older now. The study says that approximately 83% of board members are over the age of 40, while the general public...
“Til Death Do Us Part Inc.” realized that they needed to start doing board succession planning since they would likely be having a ton of turnover in the near future, because their board was getting older. What they didn’t realize was that their board leadership...
Having a balanced board is extremely important to the success of your board of directors. Your board of directors needs to be able to function as a whole in order to make decisions. I want to tell you a story about an organization that had a divided board, so much so...
Does everyone on the board of your organization understand the real purpose of board succession planning? Or do some of your board members think board succession planning is a way “to get rid of them”. I want to tell you a story about a common...
I want to tell you a story about an organization I was on the board of, and how we created a board succession planning policy at the organization. Back in 2008, when this occurred, board succession planning was not talked about at all. However, we noticed that there...
The Importance of Board Succession Planning Board succession planning is incredibly important for any organization with a board of directors. It is vital to create a formal plan to know when turnover is going to occur. This way, you have people ready to step in when a...