Elkon Therapeutics is a biotechnology company that applies advanced engineering and high-performance computing to the identification of new medicines.
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Symetra Financial Corp. is a diversified financial services company. They provide employee benefits, annuities and life insurance.
The Similarities of For-Profit and Nonprofit Board Service
Nonprofit service can prepare directors for private company boards.
There is a common, overly simplified and fundamentally mistaken belief that a nonprofit board is a different animal than the board of a privately held company. I’m here to tell you that, particularly from the chair’s perspective, that belief is false.
A New Day for Businesses and Boards
Boards are seeking directors who understand the stakeholder perspective.
For owners of private companies, the best returns for the risk undertaken often come from taking into account the returns for other stakeholders including employees, customers, suppliers and the communities where they operate. In a sense, it’s a new day for businesses and boards.
How to Onboard New Directors
The better the introduction, the sooner the board member can make meaningful contributions.
Recruiting and Acclimating the Best Board Members
Orienting the right people to your board bolsters retention efforts.
Recruiting and retaining qualified board members is necessary for the health of any corporation. An effective board must include active members engaged in overseeing the management of a company. The following are guidelines to ensure you recruit and retain the best members for your board.
Leveraging Your Board's Contacts and Influence
Know board resources and ask the right questions.
When new directors join a board, they come equipped with tremendous experience, copious contacts and a history of helping companies grow and succeed. However valuable that may sound, it isn’t worth much if company leadership doesn’t know how to leverage what board members bring to the table.
A Well-Planned Agenda Is Key to a Productive Board Meeting
Optimize the board's time to create shareholder value.