In Fidelio’s work building Boards and leadership teams we are keenly aware of key challenges on the Board Agenda. In response, Fidelio’s Board Breakfasts bring together Chairmen, Non-Executive and Executive Directors from a range of sectors and geographies to explore pressing, contemporary topics that are highly relevant for the Boardroom and for Board effectiveness.
One such topic is Board accountability for a healthy corporate culture and employee wellbeing.
As such, Fidelio was delighted to welcome Lord O’Donnell, former Cabinet Secretary and Chairman of Pro Bono Economics, to challenge what the Board can and should be doing to positively influence culture and promote wellbeing.
The ‘Soft’ Topics Can Be The Hardest – Practical Takeaways for Boards:
- Wellbeing is firmly on the Board agenda – the tone must be set from the top
- The Board should care about corporate purpose as this is pivotal for employees
- Accountability extends to all stakeholders – in particular customers. Empathy with their perspective and an interest in their good must be part of the Boardroom discussion
- The Board should care not just about whether engagement and wellbeing surveys take place but how they are designed. If this is handled at a too junior level the topic will lack priority
- Don’t assume you know what employees want. Ask them. You may be surprised and some of their priorities may be very easy to fulfil
- Diversity of perspectives at the top table is essential for a Board committed to promoting wellbeing and a healthy corporate culture. As expectations of the Board and leadership teams change, so too should the composition and succession planning to meet these expectations
- There need not be an inherent contradiction between wellbeing, productivity and profitability
- There is much the Board can do today to promote greater wellbeing within current governance structures
Fidelio’s focus is building Boards fit for the future. We do this through Search, Development and Evaluation on an international basis. To find out how Fidelio can support your organisation, and for a full summary of the breakfast discussion, get in touch via info@fideliopartners.com or +44 (0)207 759 2200.