The COVID pandemic took many people by surprise including, according to a new survey, board-level executives:
- Nearly 40% of boards did not have risk mitigation plans in place prior to the crisis.
- Half (50%) of directors say that – during this crisis – they have focused on providing external perspective and information; 22% say scenario planning. Only 19% recognize the importance of providing emotional support for the CEO.
- 40% of directors think that board meetings will still require in-person attendance post-crisis.
As you are navigating your response to COVID-19, be aware that board members may have questions and require some answers and guidance. Have data ready and a process in place for sharing it as appropriate.