How hard it is to hide when we are disengaged. (Photo by Joe Raedle/Getty Images)
Thousands of organizations establish advisory boards for all kinds of reasons, most of them with implicit expectations, which is to say they originate by default. Quarterly or twice-annual meetings, agendas tossed together at the last minute, are often an unwelcome obligation for leadership. Equally, they can be a source of disappointment for the board members, who were invited to join because they have the ability and willingness to contribute.
It’s a shame because a well-run advisory board is a source of value creation.
Weak Advisory Boards Come at a Cost
Advisory board members include people accustomed to high-level decision-making and leaders who hold themselves accountable. Failing to create an opportunity for advisors to weigh in on strategic issues or failing to perform doesn’t go unnoticed and can ding the organization’s reputation.
Leaders who interact with an advisory board have an opportunity to develop leadership skills, including those that can prepare them to interact with a governing board later in their career or to sharpen skills if they already report to a board of directors or board of trustees. Savvy advisory board members pay attention to whether the leaders are actively learning and developing – or not. Ignoring the opportunity to learn will also not go unnoticed.
Advisory board members that only hear from the organization when they want something tactical will soon lose interest.
How to Get it Right
These are a few things that will improve an advisory board. These happen by intention, thought, investing in relationships, and taking a professional approach.
1. Create clarity of purpose. When asked to join an advisory board, good leaders will inevitably ask, “What is the role of the advisory board for this organization?” Vague answers are a clue that the leaders maintain the board out of habit rather than strategic intent. For example, if the purpose is to raise money, call it a donor development committee. Leaders who try to pass off a fund-raising group as an advisory board may succeed, but the benefits will be temporary.
One advisory board in healthcare education has a robust process in which the members are knowledgeable and well-connected. They are able and willing to bring others into discussions of a strategic nature to benefit the specific organization and the future of healthcare more broadly. This organization provides an opportunity to give and derive satisfaction from so doing.
2. Build strong relationships. Leaders who know the advisory board members beyond their LinkedIn profile can call upon advisors for specific help. For example, Chris is a senior executive with deep experience in customer insight. When he joins a board of any type, Chris is frequently tapped to use his expertise to benefit the organization, which he finds very satisfying. However, while his expertise may be clear from his resume, what isn’t is his uncanny ability to turn data into a compelling story; that understanding of him only comes from investing in the relationship.
3. Bring your A-Game. It is crucial to form and lead an advisory board as part of professional duties. If advisors realize that leaders have de-prioritized this body or frequently make excuses for poor performance, it not only affects them but will reflect poorly on the organization.
Leaders should ask themselves, “What is our objective for this advisory board?” If the answer is an outcome of high value, then it’s worth treating it as a vehicle for value creation. On the other hand, if it is not of high importance, or its purpose is more transactional, perhaps it’s best not to have an advisory board.
An advisory board can yield significant benefits when leaders sincerely work to articulate clarity of purpose, build relationships, and conduct themselves as professionally as they would other aspects of their role. However, the review may also indicate that the board is not advisable. Learning what to stop doing is at least as valuable as knowing what to do.
