In today’s world of corporate governance, efficient virtual board meetings have become essential. Whether driven by necessity or convenience, they allow board members to function seamlessly across time zones and distances. But like any new working method, virtual meetings require a refined approach to stay productive and engaging.
This guide will walk you through advanced strategies and best practices to make an online board meeting not just functional but a powerful tool for effective governance.
What are virtual board meetings?
A virtual board meeting brings board members together through digital platforms, enabling them to collaborate without needing a physical meeting. While originally seen as a backup solution, these online board meetings have proven to be more than just a temporary fix. In fact, they’ve introduced new levels of efficiency and flexibility to the boardroom.
- Useful reading: What is board management?
As Ron Sugar, chairman of Uber’s board and member of corporate boards of Chevron, Amgen, and Apple, explains it: “While perhaps never a complete substitute for physical presence, timely virtual connectivity can often make a huge difference in a board’s effectiveness.“
It’s important to distinguish between virtual, remote, and online meetings:
- Virtual board meetings: These involve participants who interact via video conferencing tools. While the term “virtual” often implies a digital format, it specifically refers to meetings where members are present in a digital environment but not physically together. Virtual meetings for board of directors emphasize real-time interaction and often include video and audio communication.
- Online board meetings: This term broadly encompasses any board meeting conducted over the internet. It can include digital board meetings but also covers meetings conducted through various other online tools, like forums or chat platforms, where communication may not always be synchronous.
- Remote board meetings: Similar to virtual meetings, remote meetings involve participants who are not in the same location, but the term often highlights the geographical separation. Remote meetings can be conducted via phone calls, video conferencing, or other online communication methods.
Benefits of a virtual meeting
One of the most significant advantages of virtual meetings is their flexibility. Board members can now attend more frequently without the logistical challenges of travel, which has been a game-changer for many organizations. This increased accessibility not only boosts attendance but also improves engagement and reduces costs — benefits that have been especially valuable during times of crisis.
A global survey by McKinsey found that boards are increasingly investing in technology and adopting flexible board meeting structures to better collaborate digitally.
Beyond convenience, virtual board meetings also enable quick responses to urgent matters, facilitating real-time crisis management. During the pandemic, many boards saw the value of regular meetings in a virtual environment, as they enhanced communication with management and improved overall decision-making speed.
- Useful reading: Board of directors vs management
Moreover, virtual meetings offer broader access to key personnel. Despite their busy schedules, board members can interact with a wider range of executives beyond the C-suite, and bringing in external experts has become much simpler. This dynamic has been crucial in making online board meetings not just an alternative but a preferred format for many companies.
How to set up a virtual board meeting
Running a virtual board meeting successfully isn’t just about sending out a link. It takes careful planning and the right technology. Use these seven tips for virtual board meetings:
Choosing the right platform
Select a secure and feature-rich virtual board meeting platform. Tools like Zoom, GoToMeeting, WebEx, Google Meet, and Skype offer essential functionalities like video conferencing, secure document sharing, and real-time collaboration. However, low-cost solutions or free plans typically limit user numbers and virtual meeting length, so consider premium options if your needs are more extensive. If you need an extra layer of data security, board management software is your go-to option. It is a secure document repository that allows more protected file sharing before, during, and after meetings.
- Useful reading: What is a board portal?
Setting ground rules
Establish clear ground rules before the virtual meeting starts. This includes protocols for muting microphones when not speaking, using the “raise hand” feature for questions, and keeping comments concise. Clearly communicated rules help prevent confusion and keep the virtual meeting focused and productive. For instance, asking all participants to turn on their video cameras will facilitate better interaction.
Planning the agenda
Craft a focused and lean meeting agenda. Reduce the number of meeting agenda items by 20% and allocate 20% more time for discussions and clarifications. Virtual meetings often require more time for interaction due to technical delays and the need for clear communication. Build in time for questions and avoid overloading slides with text. Use visuals and clear, concise points to maintain engagement.
Testing the technology
Conduct a test meeting before the actual board meeting. This allows participants to familiarize themselves with the platform’s features and troubleshoot any issues. A test run helps prevent technical glitches and ensures everyone can log in and navigate the platform smoothly. Consider offering support for board members who may be less familiar with the technology.
Preparing for technical difficulties
Even with the best preparation, technical issues may arise. Plan for potential problems by providing a contact number or email for IT support during the meeting. Consider purchasing an external microphone for better audio quality and minimizing disruptions from background noise.
Creating an inclusive environment
Limit breakout groups to four people or fewer to ensure everyone has a chance to participate. Be vigilant about engaging all board members, especially those who may not be as vocal. Use tools like the chat box and polls to gather input and feedback efficiently.
Starting and closing strong
Begin the meeting with a clear meeting agenda and introductions, and end with a summary and final comments. Use structured exercises, like the rose/thorn method, to gather feedback on what worked well and what needs improvement.
By following these steps, you can set up and run virtual board meetings that are organized, secure, and engaging, ultimately enhancing board effectiveness and decision-making.
How to manage virtual board meetings
Managing virtual board room meetings requires a different approach than an in-person meeting. Keeping everyone engaged while making the most of the technology is essential.
Here are a few tips for running a virtual board meeting:
- Assign clear roles: Designate a board chair as the meeting host. Assign someone as a technical support lead and someone to manage minutes. This helps maintain focus and ensures that important agenda items aren’t missed.
- Encourage participation: A common challenge in virtual meetings is maintaining engagement. Rotate speaking roles, use polls, and check in with meeting attendees to ensure participation. Encourage board members to contribute throughout the session, whether by asking questions or offering input on specific agenda items. Such regular check-ins are essential for board governance, as they help build continuity and focus.
- Plan for technical issues: Technical problems are inevitable. Providing audio only options and having a dial-in backup can prevent interruptions if the user’s internet speed doesn’t allow for full connection. Make sure IT support is available to troubleshoot any issues.
- Go for smaller, more frequent meetings: Instead of long, drawn-out meetings, many boards are finding success with shorter, more frequent sessions. Boards that meet more often during crises have been better equipped to respond quickly. These sessions also help reduce meeting length, preventing burnout in long virtual meetings.
- Encourage data-driven decisions: Virtual board meeting software can help provide instant access to key data points during meetings. Using real-time data and automated minutes makes it easier to make informed decisions without lengthy discussions. This is especially useful for reviewing detailed financial statements during the meeting.
How to conduct remote board meetings
Even with the right setup, remote board meetings need to be structured to ensure they’re as effective as in person meetings. Here are a few extra tips to run efficient virtual meetings from Alyce Lee Stansbury, CFRE at Stansbury Consulting:
Do:
- Keep your agenda items short. The times of 45-minute PowerPoint presentations are hopefully gone. Distributing the agenda over multiple meetings allows board members to address critical strategy questions in the first session.
- Spread sessions over a week or two. Allow for enough time between digital meetings so that your attendees have opportunity to process information and facilitate decision-making. Shellye Archambeau, a director at Verizon and Nordstrom reflects on the efficiency of this strategy: “Normally we’d have a three-day strategy session. We broke it into one 1.5-2 hour session a week, for four weeks, instead.”
- Provide materials in advance: Share detailed reports, financial statements, digital board books, and virtual meeting minutes before the meeting.
- Use PowerPoint effectively: Advance the agenda and highlight key points with clear, concise slides and transition slides for sections like action items and financial statements.
- Use breaks effectively. Aim for at least one 15-minute break per 90 minutes of a meeting. It will help keep remote attendees engaged no matter the complexity of a discussion.
- Include tech support info: Add a contact number or email on slides to provide technical support if any issues arise.
- Limit breakout groups: Keep them to four people or fewer to ensure everyone can participate and include a notetaker.
- Allow time for questions: Ensure there’s extra time for discussion and questions to process and respond.
Don’t:
- Overuse slides: Avoid making slides the focus; leave room for discussion.
- Crowd slides with text: Use visuals and minimal text with easy-to-read, black or dark fonts (14 pt or larger).
- Use animations or streaming videos: They can interfere with audio and should be tested beforehand.
- Let one person dominate: Watch for non-participants and ensure balanced engagement.
- Ignore technical difficulties: Prepare for issues like freezing screens or reconnecting.
Virtual board meeting best practices for board members
As virtual board meetings become a regular part of board governance, there are a few key practices to run a board meeting effectively:
- Leverage the right tools: Board management tools are key for managing remote and hybrid meetings. Virtual board meeting software offers essential features like secure document sharing, voting, and real-time collaboration, ensuring meetings remain both efficient and secure. Be sure to familiarize yourself with more advanced features of a board portal, such as breakout rooms, polls, and chat functions.
- Monitor costs: Virtual meetings offer considerable cost savings over in-person meetings, particularly when it comes to travel. However, poorly managed meetings can end up costing you in lost time and productivity. Bloomberg states that ineffective meetings can waste up to $25,000 annually per employee. Keeping meetings concise and to the point will help mitigate these risks.
- Improve future online meetings: Use feedback after each session to improve future online meetings and drive better board meeting engagement. Whether it’s adjusting the meeting time, refining agenda items, or offering more interactive options, ongoing improvement is essential to maintaining efficient virtual practices.
How to attend virtual board meetings
For board members, attending a virtual board meeting requires preparation and engagement to ensure effective contributions.
- Prepare thoroughly: Review the well prepared agenda and supporting materials beforehand. This allows you to offer meaningful input during discussions. Poor preparation is a common issue for nonprofit boards, often leading to disengagement.
- Stay engaged: Active engagement is key during virtual meetings. Avoid distractions, keep your video camera on, and ensure your internet connection is stable to maintain a professional presence.
- Adopt professional etiquette: Even though you’re not physically present, maintaining professionalism is critical. Silence background noises, ensure proper lighting, and stick to the established ground rules throughout the session.
Key takeaways
Virtual board meetings offer a unique blend of flexibility, cost savings, and efficiency. By leveraging the right board management tools, fostering engagement, and adopting structured practices, your virtual board sessions can be just as productive — if not more — than traditional in person meetings.
As organizations continue to adapt to remote work, platforms like iDeals Board will play a crucial role in ensuring that board meetings remain secure, efficient, and successful.