optimizing M&A transaction workflows with technology
The quality of your board meetings is contingent on the amount of work participants prepare prior to each meeting. If they make the effort to prepare, they can make online meetings more productive and effective. A well-prepared team is more likely to stick to the agenda, and ensure that they do not get distracted by an unrelated tangent.
It’s essential to establish clear expectations for board members who are remote on how they are required to take part in meetings. For example, it’s best to remind participants to mute themselves and only speak when requested to speak. This will stop people from arguing with one another or leaving the meeting not feeling heard. Before a meeting begins the convenor should inquire of participants if they have any technology problems they need help with.
It’s also helpful to include the rules for meetings that are virtual in the materials for board members’ orientation to ensure that everyone has a thorough understanding of what’s expected of them prior to the meeting, during, and after the meeting. For instance it’s important to send the agenda ahead of time, and to follow up with participants one day or morning before the meeting to confirm all the details, send them the link to the meeting or Zoom in a second time, and remind participants of any other meeting preferences (such as requesting attendees to tune in from an area that is quiet to avoid distractions). It is also recommended to include a placeholder for executive sessions to every agenda item and to include this at the start of the meeting to avoid confusion over whether there will be an executive session or not.