E&C companies largely fail to invest in ongoing education and development at the board level. Here’s why this is a mistake and what companies can do to start building out high-impact boards of directors.

In today’s increasingly global, connected world, engineering and construction (E&C) firms need strong guidance from their boards of directors in areas like strategy, digital transformation, mergers and acquisitions, finance, corporate risk, and talent recruitment. Add ethical, environmental, and social responsibilities to that list, and it’s obvious that boards are now expected to go “above and beyond” in addressing critical areas of the typical E&C business.

Of course, achieving these results takes a special kind of director – someone who can objectively help companies develop solutions to today’s challenges while keeping his or her eye on what’s lurking around the next corner. This type of high-impact director is never easy to find, but they are out there. More importantly, those directors who are not yet ready for those high-impact roles can, over time, be trained to tackle even the toughest situations.

The problem is that most E&C firms are not investing in education and development at the board level. In this article, we will explore why finding the right people to fill your board is just the first step, and how training can mean the difference between a high-functioning, high-impact board of directors and one that rocks along in mediocrity.

More Onboarding Needed, Please

In our March/April 2019 article, “Gain the Advantage: Diversify Your Corporate Board,” we looked at how E&C firms can boost effective governance by growing diversity in the boardroom – principally by seating new directors with diverse backgrounds and expertise. This is important because high-functioning boards leverage the skills, knowledge, and connections of their members to elevate the organization while providing a compelling strategic advantage over competitors.