Shadow boards, composed of younger, non-executive employees, offer fresh perspectives and innovative solutions to businesses. These boards challenge traditional thinking, and by doing so, they help companies stay relevant and competitive in today’s fast-paced market. Companies such as Gucci and Merck Group have successfully utilised shadow boards, reaping benefits such as improved communication and increased employee engagement.
Despite the proven benefits, many firms are reluctant to implement shadow boards due to concerns about disruption and loss of control. To address these fears, organisations must create a culture of trust and openness, ensuring that shadow boards are respected and their ideas are taken seriously.
When establishing a shadow board, it’s crucial to select diverse members who represent different departments and roles within the organisation. The board should meet regularly and be given challenging tasks that align with the company’s strategic goals.
Finally, the success of a shadow board depends on the commitment of senior leadership. They must be willing to listen, learn, and act on the board’s recommendations. By doing so, companies can harness the power of their younger workforce, fostering innovation and driving growth.
Go to source article: https://hbr.org/2019/06/why-you-should-create-a-shadow-board-of-younger-employees