Man i tomt styrelserum

Board work after the pandemic

Share on facebook
Share on twitter
Share on linkedin

We list 6 points that the board needs to discuss in order to navigate correctly in its board work after the pandemic.

The pandemic required rapid behavioral changes in all of us. A whole world had to change and we learned to keep our distance, handle lots of digital tools and work on thinking positively in dark times. And now, like this almost two years later? A completely new labor market to navigate, and thus also completely new challenges for the board.

The labour market is still far from stable, and the coronavirus is still spreading. But as the world opens up, new trials are next. As the company’s most strategic resource, the Board can make a big difference in their response.

1. Plan of the active board

The previous board engaged in strict agendas, rules and formalities. The new, updated board is quick on the ball when the outside world unexpectedly swings around, takes meetings on the fly and uses smart digital tools.

The pandemic has taught us to meet in new ways. When you don’t have to travel country and kingdom around to attend board meetings, a lot of time is freed up. The hours you save on meeting the other members via video meetings can instead be spent on more meetings . This way, the board can stay more active.

Together, the board can make a plan to meet the new expectations of agility and adaptation. Take the time to decide how the work will proceed after the pandemic and be open to changing the structure properly.

A combination of physical and digital meetings, where the digital ones make up the majority, is a good starting point for being able to meet the new conditions.

2. Back in the office strategy

After a long time outside the office, it is now time to go back, but how do you manage to change – again? It is high time to evaluate what worked well and what worked less well in the office, before the pandemic.

The pandemic accelerated digital development so that more people could work from home, and many plan to continue to offer that opportunity. How will your company do it? Do you have a strategy to succeed in the, according to studies, long-awaited combination of office and home jobs?

Discuss issues such as:

  • Are the company’s premises suitable for the new job life?
  • Has peace and quiet pushed out the need for conference rooms and creative workrooms?
  • Or is it perhaps just the meeting places you need to invest in, rather than the workplaces?
  • Do different teams have different needs for physical meetings?

If you choose not to support remote work, and instead return to traditional office work – how will you handle any staff loss?

More structure in your board work?

Sit back with a digital board portal.

3. How we keep the staff

It may be a good idea to let HR managers have great insight into what the board is working on, because the personnel issue is more important than ever. Make sure to access as much data and information about management’s personnel management as possible. Find out about employee information that may have changed with the pandemic.

For instance:

  • What benefits are in demand?
  • Have wage levels changed?
  • What do competitors’ salaries and benefits look like – do you stand better or worse as an employer in the market today?
  • How has remote work affected staff?
  • Is there anything the company can change to make it more attractive to potential employees?

The clearer the board’s view of the needs of the staff and the work of HR managers, the better the basis for decision-making is built up in the face of changes that may affect those who work in the company.

4. Cybersecurity, cybersecurity, cybersecurity

Several reports warn that the increased remote work means greater security risks for many companies. Mainly because those who work remotely lack the right protection when using new digital tools for communication and data management. That cybersecurity will be an important, standing point on every board’s agenda probably surprises no one — especially given that remote work is likely to continue in many places.

Communication is the most important pillar for managing to maintain a high level of cybersecurity in the company. All employees must know what preventive measures are expected of them. They also need to understand when any threats arise, as well as know how, and to whom, it should be reported. Only then can you build a strong safety net around the organization.

A good start to raise the level of cybersecurity in the company is to follow these five steps:

  • Design an IT security plan.
  • Train your staff.
  • Focus on password management.
  • Map risks and threats, as well as assets.
  • Regularly communicate updates and changes to the security plan.

Cyber-safe?

Cyber risks on the board – how you work IT-safely

5. Balance sheet and capital

After almost two years of total unpredictability, stability and security are in demand above all. The negative economic effects of society’s lockdown hurt most people. But future bangs could be milder if the control of the company’s cash flow and buffer is checked regularly. The risk of large customer losses in the aftermath of the pandemic remains high.

6. New hopes for the future

Hope and positivity need to permeate the company, especially during and after tough times, to promote engagement and growth. Now that we are in what we hope is the end of the pandemic, the board needs to step in and discuss what future dreams you and the company management have for the company. It is a value-creating work that builds up for increased well-being and security, if they are communicated downwards.

Are you curious about how you can work smarter with Boardeaser’s tools? Then book an unbiased demo with one of our experts, today.

Boardeaser is a secure web portal for board work and financial reporting. With our tools, it is safe and easy to handle sensitive and business-critical information. Log in or register for free to test Boardeaser’s board portal.

Read more posts

Skriva vd-rapport

How to write a good CEO report

Are you going to write a CEO report? We sort out what your report must contain, how to choose key figures and how to present data so that the entire board understands.