The Workforce Takes Centerstage: The Board’s Evolving Role | Deloitte

Few would dispute the fact that the COVID-19 pandemic has fundamentally changed the way businesses operate. Not only has the crisis revolutionized how we work, where, and what workers expect from their employers–to name a few— it has also led to a reprioritization of Board activities. For many organizations, the pandemic has underscored the importance of the Boards’ involvement in workforce issues beyond traditional topics, such as succession planning. The article includes fourteen questions that Board’s are asking concerning the workforce, including 1) Are the mission and vision of our organization clearly understood and embraced by the entire workforce, regardless of role or level? How do we promote that understanding? 2) To what extent are our development programs anchored on capabilities versus skills? What do we see as the essential human capabilities required to execute our business strategy moving forward? 3) What measures are we tracking to give us real-time insight on the sentiments of the workforce—both internal and external? 4) Do our compensation strategies, including at the executive level, reflect the balance and combination of market/economic value and stakeholder/social values we seek to represent? These and other questions can be used by CEOs, CHROs, executive teams, Boards, and HR Leaders as they drive value through culture and talent in a post-COVID-19 world.