In the last year we have all been forced to rethink everything about our personal and professional lives. In the boardroom that was no different. As you reflect on 2020 and begin to look ahead, I encourage board directors to embrace a philosophy of curiosity to question and consider new assumptions about your business. In our device-driven world, it is easy to rush to snap judgments based upon old assumptions and incomplete information. As you face challenges in the boardroom in the year ahead, take time to reflect and ask a few more questions of a few more people before making decisions. In the words Walt Whitman: “Be curious, not judgmental.”
This concept of intellectual honestly and discipline for learning is one of the core tenets of my new book: Disruption in the Boardroom. Directors cannot simply rely upon old rules of business or status quo thinking anymore. The rubber stamping of management days are long gone. Likewise, directors can’t delegate away the responsibility to senior management of truly understanding cyber-security risks, disruptive technologies and leading a changing workforce. Directors must be intellectually curious about the changing dynamics every business is facing.
There are many oracles out there predicting what trends from 2020 will endure and which ones will fade. As I continue my work and research in patents and trends to understand how technology will continue to evolve, there is one very human component that struck me in 2020: the importance of relationships. I believe this will endure long beyond the theoretical singularity of technology and it falls in line with this principle of curiosity versus snap judgment. Human relationships and trust will endure and matter because they take time and effort to build.
Despite conferences and lunches being shut down this last year, the opportunity to meet new people and form new business relationships not only survived but thrived if you were willing to make the effort.
Through virtual connections and introductions, I still had video calls or phone calls to meet new people, learn about what they were doing, share my experiences and my research and continue to grow personally and professionally.
None of this was replaced by technology, but facilitated by it. In fact, for the most part, the formula is still pretty simple: invest in learning about other people, their experiences and what they are doing. Be curious about new business models, policies, work and people. Ask questions, continue to learn and be open to changing your way of thinking to adapt. In a time of disruption, this means being curious about your stakeholders and the assumptions you have about them (i.e.: your customers, your employees, your suppliers and advisors, as well as the communities you serve.)
Social media platforms and technology do not and will not replace relationship building. Social media platforms are not curious – they are judgmental. The visceral response in these platforms takes almost no effort and yet can be so destructive.
Talking to someone, learning about them, fostering a connection – that takes work – it takes curiosity, it takes effort and investment and that’s why it is rewarded and valued and will continue to be valued long into the future as technology transforms the world around us.
Good work requires interaction with others -not platforms. Platforms are merely a conduit for humans to interact.
While it may still be another year before conferences return and handshaking with dozens of people while exchanging cards may never return, the simple act of being curious, meeting someone and learning about them will endure. And that can be done, even in a pandemic.
My prediction for the future is that relationships will matter more than ever. While artificial intelligence and data analytics will speed up decision making and robotic technology will replace some human work, jobs that require relationship building will be in more demand and those with the skills of networking, building trust, leading and inspiring others, meeting new people, connecting, and asking questions will be of higher value. This year has helped me realize why I don’t want to order food from a robot – I want to talk to a waiter about the specials, what the chef is preparing – I want to sit in the restaurant with the energy and buzz of people and trust the waiter when he or she says the halibut is amazing.
The world will continue to be very different. We will continue to work remotely because there are advantages to it and cost savings. But we will also invest time to strategically and meaningfully build relationships and trust. This means directors may want to think about a new approach to the board agenda in a way that emphasizes time dedicated to learning, to relationship building and maintaining trust amongst the board and with the senior executive team, as well as methods to understand stakeholders in a meaningful way. Consider a retreat later in the year and consider carving out time for learning and discussion while you are working remotely and can more easily schedule “off cycle” time. Allow for intentional social interaction in small groups via platforms or, for those who are comfortable meeting in person, to do so in a safe manner.
Alarmingly, more studies of boards in 2020 indicate that trust is eroding in each other and in what is being presented to the board. Trust is built by asking questions, listening and learning. In an age of disruption, take this time to reflect on what you observed and learned last year. Take time to consider what new assumptions you might have instead of simply relying upon old rules or assumptions about your stakeholders. Take time to be curious, not judgmental.
If you are interested in a keynote, workshop or facilitated discussion on emerging technologies, future trends, cybersecurity or cultural shifts for your next board meeting or executive retreat, contact me at jwolfe@consultwolfe.com or 513.238.4348.