These are Common signs of ineffective board governance:
As a trustee of an institution, whether you are appointed to a public university board, a trustee due to church affiliation, or on a private institution board because of significant donations, you hold a pivotal role. This role comes with fiduciary responsibility, a term that underscores the seriousness of your duties. You are ultimately accountable for the actions of the university and its members. A fiduciary is someone trusted to manage and protect property or money for others' benefit—in this case, the institution's students. You can be held personally and legally accountable if you are negligent in your duties. Developing good board practices is not just a suggestion; it's a necessity to mitigate this risk and to ensure the smooth functioning and progress of the institution.
Yes, board committees are crucial. They help manage smaller tasks, keep a pulse on the institution, and dive deeper into specific issues. Committees should be structured to support the board effectively, ensuring a thorough oversight process.
Higher education boards should have committees for finance, marketing and marketing, academic affairs, strategy and audit, and risk. Additional beneficial committees include university life, nominations, governance, development, and executive.
Effective boards are not just about the number of members but also about the diversity of their skills and experiences. A well-rounded board should include members with diverse backgrounds, covering areas like academics, finance, operations, enrollment, marketing, fundraising, strategy, legal/regulatory, IT/cybersecurity, HR, and governance. Diversity in thought and background is not just a buzzword; it's a necessity, especially in higher education institutions where the student population is diverse. It's about reflecting the institution's student population and understanding and addressing their needs effectively.
The ideal number of board members is between 15-30, depending on your institution's size and bylaws. This ensures adequate oversight without having so many members that some might not actively participate.
Diversity is not just a buzzword; it's a necessity. It's not just about race, gender, or ethnicity; it's about diversity of thought and experience. Boards should reflect the diversity of their student body to understand and address their needs effectively. This is not a choice; it's an imperative for the success and relevance of your institution. Your unique perspectives and experiences are what make the board dynamic and effective.
Indicators of dysfunction include:
Yes, succession planning ensures the board has the right mix of skills and numbers. The Nominations and Governance Committee typically handles recruitment, using tools like a skills matrix to identify necessary skills and gaps.
Boards should conduct formal evaluations of the president at least every three years, though annual evaluations are preferred.
Take responsibility for your board's performance. Board evaluations and self-evaluations are not just a formality; they are vital for assessing and improving board performance. They can be done through written assessments, interviews, or a combination. They are not just about feedback but about performance improvement and succession planning. They are the key to ensuring the continuity and effectiveness of your board. By conducting these evaluations and implementing succession planning, you can be confident in the board's ability to adapt and thrive in the future.
Realize the impact of your role. The board plays a crucial role in overseeing the administration and ensuring accountability within the institution. This includes holding the president responsible for achieving student outcomes, adhering to the institution's mission, implementing strategic plans, and meeting other key performance indicators. Effective monitoring can be achieved through the establishment of dedicated board committees, conducting regular evaluations, and involving the entire board in oversight activities.
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