Knowledge Points. Building Bonds: Pathways to Better Board/CEO Relationships. Fostering a Dynamic Board/CEO Relationship: What Creates Success?

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1 This presentation was made possible by Building Bonds: Pathways to Better / Relationships Knowledge Points Success factors in fostering a dynamic board/ relationship Building mutual trust compensation and evaluation Discussion points Fostering a Dynamic / Relationship: What Creates Success? Trust: Most Vital Ingredient Rely on one another for support, consultation and advice Respect Absolute Trust Candor / Relationships Trust is the most critical How Do You Build Trust? Complement one another s strengths and responsibilities Positive rapport and a close professional relationship 1

2 Understand what motivates each trustee Confidence in the How Do You Build Trust? Be aware of any gaps in trustees understanding Encourage trustees to learn and ask questions Fulfillment and Satisfaction Sense of Command When Its Good Address the Right Issues in the Right Way at the Right Time Confidence in the s Ability and Work Well Together When Its in the Relationship ICU Decisions Second- are Tabled Guessing Questions Coalitions and About Focus, Factions Form Intent and Appropriateness Creating Success: Mutual Needs Communication is Clear, Crisp, Concise and Accurate and Sense of Are On Synergy the Same Page Understanding of its Strategic Place What the Needs Understanding of emerging issues Understanding of barriers to success Crisp, clear and concise overviews Avoid tendency to wander What the Needs Information and perspectives the board requires to lead with purpose and vision A curious board Energetic participation, creative thinking, willingness to challenge the status quo 2

3 - Attitude and Emotional Intelligence is an asset Welcome strong leadership Expert in High-Impact Governance Devote time Develop expertise in board leadership - Produce High- Impact Governance Take accountability Good is not good enough Health Relationship Recognize diversity Work collegially Communicate Self-assessment On the Same Page No micromanagement No behind-the-back discussions Strategy and Policy, not Minutia Evidence, not anecdote Clear Performance Expectations Candid feedback Sense of security - Confidentiality Never share information Fiduciary responsibility Governance Participation and Productivity Sets the stage for action Efficient Follow-up is clear - Purpose Wandering Who Does What? Roles and Responsibilities in Writing Approval of decisions Mission, values, vision What () vs. How () Prevent Assuming the Other s Responsibilities Policies and procedures selection and evaluation Quality and patient safety Strategic thinking 3

4 Who Does What? Put It In A Matrix Presents information for board approval Informs board about challenges Day-to-day operations Updates board on success Respective Roles Leverage the best resources of both Matrix Hiring Budgeting Personnel Compliance Advocacy Community relations Quality Credentialing Who Does What Who develops, directs, reviews, provides input, and/or approves Ineffective board meetings: Poorly planned agendas Wasted time on routine reports Emphasis on operational details Mundane details have little strategic impact Focus on vision, values, policies, and strategic leadership Meeting: Center of Relationship Success or Failure Be fully-informed Agendas geared toward the strategic future Engage in rich discussion and dialogue, assess outcomes, and participate in ongoing education Meeting: Center of Relationship Success or Failure Use the 25/75 Rule No more than 25% of time on past issues At least 75% dedicated to the future Role: Materials in advance Partnership with the board chair First Five Minutes After Count, Too Completed in five minutes or less Fine-Tune Work Through Meeting Evaluations Include yes/no answers with room for suggestions 4

5 How Did We Do? Executive Sessions Are an Opportunity to Strengthen Communication and Relationships Did we focus on the right issues? Did all members participate in an active way? Did we develop our knowledge capital? Seek additional comments Confidential matters behind closed doors Typically following adjournment Personnel Investigations performance Legal and finance Highly confidential topics Dependent on laws Opportunity to openly and confidentially share opinions among board members But Should Not Be Misused Rules of Engagement Address only predetermined issues Avoid discussions that could occur in a regular board meeting Not an excuse to avoid difficult topics and conversations Not to hide board deliberations behind closed doors Short and highly focused Not under the radar Not an anecdotal freefor-all Summary of the session to the It s An Opportunity to Build Trust and Focus on Organization-Wide Goals Compensation and Evaluation: A Critical Component Maintain clear expectations and ensure regular review s performance tied to hospital goals Maintain an organization-wide focus, link compensation to goals No conflict of interest 5

6 What s Important In the Compensation Assessment? What s Important In the Compensation Assessment? Organizational performance Position volatility Challenges and risks addressed by the compensation compared to peers s tenure Implications of the loss of the Key Elements to Ensuring Compensation and Evaluation Success Clear Delineation of Roles Compensation Engagement Committee Discussion Points How trustful is your board/ relationship? Ways to improve? Barriers? Major responsibilities? Clear delineation of authority and responsibility? Gray areas? Discussion Points How board savvy is the? How savvy is the board? Do board meetings strengthen relationship? Do process and policies encourage what is most important, and meet IRS requirements? Building Bonds: Pathways to Better / Relationships 6