Technology can also be used as a way to build the workforce of the future through the upskilling and reskilling of people. Changing consumer expectations and behaviors are an opportunity for the organization to grow market share and relies on a corporate culture that facilitates agility, innovation and productivity.
The board sets the tone at the top when it comes to corporate culture through its values, actions and communications, supplemented by factors such as its composition, structure and processes.
Boards should be composed of a diverse range of people, with a broad base of skills and from a variety of backgrounds. Here are some steps boards can take:
- Review the composition of people to reflect changing expectations of their stakeholders
- Oversee the strategic opportunities facing the organization
- Demonstrate leadership in areas such as diversity and inclusion
Given the ongoing requirement for virtual remote working, boards’ communication and security practices should be agile and effective, and they should also reassess committee structures and agendas to optimize effectiveness and increase accountability.