Rising to the Board Level
Creating Next Generation Board Leaders

A UK financial services business sought a classic strategic leadership program for its most senior executives. However, when the firm began working with Duke Corporate Education (Duke CE), it became evident that there was some disconnection between the Board and these next-in-line executives. The Board felt that the strategy of the firm was clear, but that these executives lacked the energy or will to implement it. The executives felt that the strategy was far from clear and they mistrusted the Board’s ability to drive the firm forward. As a result of recent turnover on the Board, it had been difficult to develop lasting relationships with many of the members. Based on this new insight, the firm collaborated with Duke CE to create a program to address the gap between the two groups and to help prepare the senior executives for future Board level positions.

The complex nature of bridging the gap between these two levels and developing a more strategic outlook for the senior executives required a unique educational approach. Too often in organizations, different layers of management view the one above or below them with suspicion or misunderstanding. Duke CE worked with the company to design an intervention that would serve as a vehicle for conversation, dialogue and debate, as well as encourage the senior executives to take action to implement their strategy. The challenge was to develop empathy on both sides; for the Board to understand that the senior executives found the task of translating strategy into tangible objectives quite challenging; for the senior executives to understand the broad thinking required to agree on strategic direction.

The approximately 80 senior executives were split into four groups to take part in the program, which would be delivered four separate times over the course of eight months. Each program would be delivered over three days, with a one-day follow-up to serve as a “fast-entry” back into the workplace.

The CEO opened the three-day session by articulating the company strategy to the senior executives and setting the stage for the work to be done over the course of the program. The senior executives then received insight into current strategies being pursued in their industry and engaged in benchmarking themselves against the best in the industry. They worked together to answer two important questions:

1) If you were a Board member, what would you be focusing on now? 2) If you were in charge, what would be on the agenda for your next Board meeting?

The second day focused on personal leadership development. The participants completed a 360-degree assessment customized specifically for their firm. The aim was to sensitize the participants to the importance of their leadership role within the firm. In parallel, the executives pursued a process to agree among themselves on small group projects that they wished to pursue to help implement strategy as leaders of the firm. The instructions were to focus on issues that were irritating them personally and making their working life more difficult – what could they do to ease the pressure?

The three-day session culminated with two practical, hands-on learning experiences. In the first of these, participants present to their colleagues and to video. The aim is to communicate the strategy to their teams in the firm and to communicate their collective role in implementing the strategy. After technicians had edited the video, using small portions from each individual’s presentation, it was played back to the group. It is a powerful moment, as the senior executives see that they present the strategy seamlessly as a team. It is a visual depiction of strategic alignment. As a result of this activity, participants gained a stronger understanding of what it takes to translate and communicate strategy. At the same time, they internalized the presentation as a summary of their mission for implementing the strategy.

In the second learning experience, the senior executives took part in a mock Board meeting, following the agenda they had established for themselves on the first day. That is, they discussed the most urgent topics that would be on their minds if they were members of the Board. Based on the subject chosen, participants selected the appropriate Board roles to be present for the meeting and then adopted those roles in the meeting. At the end of the meeting, the mock Board must reach a decision on actions to undertake. Two to three real Board members observed their interaction and gave them feedback, as well as revealing the processes that they pursue themselves. This dialogue leads to a greater understanding of the roles and responsibilities of the senior executives and the Board members, as they understand better what it feels like to be in one another’s shoes.

At the end of the three-day session, participants decided which initiatives they would undertake to help to move the firm’s strategy forwards. They worked in small groups of three to five people. Six to eight weeks later, they reconvened in a one-day follow up session to discuss progress. As well as reviewing progress against personal leadership targets based on the 360-degree feedback, they presented actions they had undertaken to drive the strategy forward. Once more, two to three real Board members were present, to offer congratulations and further input.

Approximately half of the firm’s most senior executives have already completed this program. The internal dialogue and understanding it has promoted has been positive. Most importantly, strategies are being implemented as a result of this work. For example, the firm is establishing a graduate recruitment program to develop a pipeline of talent; is pooling research carried out by different functions to provide more informed business decisions; and is developing a full view of product activity across the firm.

 

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