In the Words of Experts: Find the Gaps
We asked experts how they leveraged board matrices to shape better boards.
The Board Skills Matrix is a critical component of understanding knowledge and experience gaps the board may have in support of the company’s strategy. To get the most out of a matrix, you need to first overcome the challenge that comes with any self-assessment. Some directors will over- or under-evaluate themselves. Ideas to make the process more consistent include: conducting 1:1 interviews to objectively assess skill level, providing examples of ratings, and offering general guidance on how to really differentiate strengths.
Co-founder Stanford VMware Women’s Leadership Innovation Lab | Board Member, Blue Shield of California, GoShip, John Wiley and Sons, Inc.
I’ve served on a board where each board member was asked to individually review the board matrix and suggest any further skills, experiences, and demographics that would address our needs as a board. We then shared the matrix with key senior executives and invited them to identify their additional business needs. The end result was a comprehensive, strategic board matrix that helped us bring in new board members with skills, perspectives, and ideas to fill in gaps and strengthen the board overall.
Managing Partner, Flying Fish Ventures | Board Member, American Airlines Group Inc., Axon Enterprise, Inc., eBay Inc., KKR & Co., Inc