Modern Boards: Why Workforce Strategy Needs a Seat at the Boardroom Table | Accenture

Talent Management

According to a recent Accenture survey, the pandemic has accelerated a trend of Boards’ having greater oversight of their firms’ workforce strategy. The survey found that COVID-19 increased 70% of board member involvement in workforce strategy. And Boards (Modern Boards) that give disproportionate attention to workforce strategy belong to firms that experienced revenue growth of 10% or more than their peers and were better prepared for the pandemic. They also excel across five key dimensions 1) Mindset – elevation of workforce topics and shared accountability with the C-suite, 2) Mission – responsiveness to social issues that have an impact on the workforce, 3)Metrics – expansive workforce metrics inform decisions that benefit the business, 4) Muscle – confidence in management’s strength and ability to execute workforce strategies, and 5) Makeup – strong board diversity across many facets. Regarding #3 Metrics, Modern Boards frequently measure and discuss workforce metrics monthly or quarterly, rather than biannually, annually, or not at all. The report concludes with five actions to close the workforce strategy gaps in the boardroom. Also, here is a Deloitte article that includes 14 questions that Boards are asking about their workforce.

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