Effective Boards Secure Our Future

It’s no secret that American higher education today is not only at a crossroads, but it’s also in the eye of a storm. Political polarization, demographic change, financial pressures, and mounting doubts about the value of postsecondary education are converging in ways that demand effective governance and leadership. Some board members may be hesitant to have difficult conversations due to the political landscape or potential disagreements about any number of issues among board members, which could result in a divided board. No matter the circumstance, board members should continue to discuss the issues of greatest consequence—civil discourse in the boardroom is critical to having an effective board.

Everyone at some point tends to say that the decisions we make now determine our future, and the future that we provide for others. I’ve seen this sentiment elevated in this moment more than ever.

I wonder what we (the higher education community) and others will say about this moment in the future. Will we or others say that we stayed grounded in fiduciary duties and the principles of trusteeship to meet this moment with clarity and purpose?

I’ve read several op-eds recently and they all have one thing in common: they call on higher education leaders, especially boards and presidents, to double down on policies and practices that will benefit today’s students and generations to come. We know that boards and presidents won’t be able to meet this expectation unless they stay focused on the mission, vision, and values of their institutions, systems, and foundations.

It seems obvious and easy to say that fiduciary duties don’t change based on the political party in office. However, that statement catches attention and prompts discussion. Fiduciary duties and the standards of authority and accountability that come with them must remain “the main thing”—in this moment and every moment.

I hear from board members, presidents, chancellors, board professionals, and others who are very effective in their positions, yet exhausted by the onslaught of new and direct challenges facing higher education. These individuals know the principles of trusteeship (understand governance, lead by example, and think strategically) and are striving to meet this moment with clarity, purpose, and a focus on mission and vision.

When I see effective boards that exercise their fiduciary duties and governance responsibilities while addressing risks to the health, vitality, reputation, and future of their institutions, systems, and foundations—they meet this moment by these actions:

• staying focused on the mission;
• fulfilling the principles of trusteeship;
• asking thoughtful, relevant, and appropriate questions;
• remaining informed; and
• providing continuous support (and oversight as appropriate).

This is critical because presidents, chancellors, and senior leaders need the support and weight of their boards behind them. In turn, boards need genuine and healthy relationships with their presidents and leadership teams. Many people impact the effectiveness of board governance and institutional leadership. This is important because effective governance and leadership allows us to meet this moment in every way we can and should—with honesty and courage.

This is why we often say, “Good governance isn’t a static goal but a standard of practice toward which every board must continuously aspire.”

Everyone board member should continuously ask: How can/should I add value and contribute to the effectiveness of my board?