Board Level
The Australian Institute of Company Directors
Podcast
Episodes
Listen, download, subscribe
Melanie Willis on finding the right board
Melanie Willis is a non-executive director of Challenger Limited, Southern Cross Austereo, PayPal Australia and Chief Executive Women. Previously, she was CEO of NRMA Investments and a director of Deutsche Bank. Here Melanie talks about finding the right board, how to have your voice heard at the board table, the importance of listening and making the transition from your executive career to the boardroom. Valuable Discussion Points [01:22] How does a director position themselves effectively to make their voices heard amongst a board? Melanie believes that there are three key ways in which a director can effectively position themselves within a board. These include; make sure you’re picking the right board considering your skills, expertise and future outlook or vision for the company. It also looks at your ability to understand the competitive economic environment and source perspectives from outside of the industry. And lastly, the consideration of timing and knowing that it's not always about raising the point but also supporting others. [02:52] What are some useful tactics in creating a healthy dynamic within a board? Melanie believes that in order to promote a healthy flow of discussion and decision making amongst a board, as a director, timing is everything. You must know when to say something and it needs to be substantial and effective within the brief of the meeting. Melanie also states that leaning in to your point and ensuring that you’re forthcoming in your deliverance and nothing is lost in translation. [03:33] How do you know you’re on the right board? It’s all about fit when it comes to feeling good about being on a board. Ensure that you are passionate about the industry aspects and have performed all the research you possibly can on your relevant board, as this will allow you to more comfortably promote discussion and debate. Melanie also insists that the Chair plays an instrumental role in allowing this discussion and promoting a level of engagement throughout all levels of a board and organisation. [04:58] How do you find the balance of when to speak up on a board and when to listen? While Melanie acknowledges that like many aspects of business, you can be as prepared as anyone but you will always learn your most on the job, she also posits that there’s a level of personal liability on a director to know when to ask the right question. Not only is it about finding a cut through, amongst all the discussions and decisions, but you must always remember who you’re representing. Melanie says that when she’s in a board meeting she considers the perspectives of everyone of her stakeholders; regulators, customers, investors and employees. [08:20] How important do you think diversity is within a board? Melanie believes that diversity within a board promotes better business values and allows for you to operate optimally as it forces you to consider the IQ and EQ of the room, as well as reduce the dominance of one individual as there’s more diverse voices, experiences and values. Melanie also believes that by promoting diversity within boards, this also allows members to learn and navigate different social cues, which is an instrumental aspect of any good operation within a board room. [10:51] How do you manage the dynamics of a boardroom table? A board amongst other things aims to handle conflict and dissension and this can only be managed if all members maintain good values and business principles. Melanie believes the Chair sustains this dynamic by ensuring that all individuals are heard and listened to, and ultimately they lead to an acknowledgement of long term sustainability. [12:39] How do you deal with creative abrasion as a director? It's important to understand how to manage conflict and provide resolutions that lead to growth and improvement both for the individuals involved and the business. Melanie believes that as a director you can not be scared of creative abra
Board Level RSS Feed
