With an uncertain economic climate and endless ideas and innovation on the horizon, there has never been a more important time for board members of colleges and universities and their related foundations to bring their leadership to higher education. The insights of business leaders in particular can be incredibly useful as institutions make decisions and pursue opportunities that emphasize the value of a college education as a return on an investment.
That being said, it can be challenging to adapt the fast-paced, top-down leadership model of the corporate world to the more cautious, community-based governance of academe. After years of swift decision making at corporations, suddenly board members must grapple with issues that take more time and sensitivity to sort out due to the nature of shared governance in higher education. They must understand, for instance, the way state budget cuts determine the financial livelihood of public colleges and universities from year to year and the conflicting views tenured faculty members and administrators may have.
As a university president who has overseen the successful completion of a campaign and the rebuilding of my board, I’ve learned a few valuable tips over the years about how to manage foundation board members’ expectations while serving the goals of my campus, in an efficient, evidence-based manner.
1. Create a meaningful project that recognizes board members’ leadership yet educates them on the inner workings of academe and the needs of the campus community. At my institution, we started a grant program in which students, faculty members, and staff members come up with proposals for innovative projects or ideas for filling funding gaps and submit them to our foundation board. Board members ultimately vote on which proposals receive funding, and grant recipients are held accountable for how their funds are spent through reports. This program not only helps my campus community develop a stronger sense of ownership in and personal connection to the future of our university, but it also helps foundation board members become familiar with what our critical needs are through a streamlined process.
2. Be forthcoming about limited resources that may contrast with the corporate world. For example, board members with business experience may zero in on numbers and statistics that on the surface indicate inefficiency and limited productivity: how many donor prospect visits a fundraising team makes per week, and so on. They may not realize how few staff members are available to take on this important responsibility on top of the many other vital tasks they must complete. Painting a realistic picture of what’s possible is important when communicating goals to the board.
3. Determine what kind of specific connection board members want to have through their involvement. Does the board member wish to share select expertise from the corporate world through his or her leadership? Is it nostalgia that drives the need to get involved, something that perhaps conveys a need to participate in traditional events and activities? Taking the time to talk at length to board members individually about their specific interests, through a phone call or a face-to-face discussion, helps determine how to combine their personal interests with the institution’s need.
4. Like any successful business, do a regular assessment of how things are going with board members. Through a survey, we learned recently that our board members want more one-on-one interaction with our students. They really appreciate getting to know our students through thoughtful discussions and mentorship. This is an area where we can provide more events and activities for them.
If you are a college or university president, managing expectations through clear communications is key to successfully meeting both the interests of your board members and the needs of your campus. The bottom line—in business and in higher education—is finding a happy medium between people’s individual strengths and talents and the resources available, and using what you have to collectively serve your institution’s long-term goals.
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