Disruption key boardroom concern
Cybersecurity and war for talent round out top board issues
The most recent edition of the National Association of Corporate Directors Public Company Guidance Survey delved into the trends and top board issues that are driving board member decision-making as 2017 ends. (Nov. 30, PR) The results are telling, with change, in all its many forms, scoring very high with directors. In an era of rapid tech development and disruption from small and agile companies, it’s unsurprising that a lack of predictability is a major red flag for boards.
Major concerning factors identified by the NACD survey include significant industry change, named by 58 percent of directors polled. Business model disruption followed at 46 percent, tied with changing global economic conditions. Cybersecurity worries affected 38 percent of board members, with competition for talent coming in at 36 percent.
The undercurrent of worry about disruption and the unknown is clear, and may be cause to change the way directors are appointed. While companies are concerned about the way things will change, they still largely recruit long-tenured members of their own industries. Becoming more sensitive and reactive to changing trends may involve reconsidering these requirements and adding a fresh crop of original thinkers.
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