Survey shows shifts in ESG oversight and incorporation of goals and metrics.

ESG continues to become an increased focus of boards of directors, with 71% of boards incorporating ESG goals and metrics into overall company strategy and 34% of boards discussing ESG at every or nearly every meeting, compared with 15% pre-coronavirus.

Directors should plan for risks in talent, supply chain, public health and more.

Betsy Atkins, board member for Wynn Las Vegas and Volvo Car Group, explores prominent risks for corporate boards.

Joyce Cacho, board member for Sunrise Banks NA and World Benchmarking Alliance, explores prominent risks for corporate boards. 

Now is a good time to revisit risk assumptions with management. A robust dialogue can ensure alignment between the board and management and better position the company to handle the next global crises.

Anticipating emerging risks means reshaping the board. 

Risk management is often cited among the top two or three items on board agendas, yet many companies have found themselves unprepared for a variety of recent shocks, including the COVID-19 pandemic, the Great Resignation, cybersecurity events, labor shortages and supply chain disruptions. 

International crises increase the need for non-U.S. board members.

Ram Charan notes that most senior managers have never seen or dealt with hyperinflation.

Ram Charan is worried about inflation’s effect on business.

Therefore, boards should be worried about it, too.

Here are the most pressing queries for boards to be posing to management, according to Ram Charan and Dennis Carey, vice chairman of Korn Ferry. 

A comprehensive cybersecurity program focuses on more than compliance.

To truly protect their organizations, boards must use their oversight role to move the focus on cybersecurity past regulatory compliance and toward the goals of identifying threats before they happen and being able to respond quickly should an incident occur.