A Board’s key functions are to provide supervisory guidance for company strategy, manage enterprise risks, hire, manage and fire (if required) the CEO and ensure financial solvency and legislative compliance of an organisation.
For some Board members, it can be hard to find the right balance between providing guidance and getting too involved in day-to-day management. Particularly for volunteer boards. So how can Boards get a glimpse of operational risk?
Here are six approaches you can take to create confidence that you’re receiving all the information you need to make good, defensible decisions as a Board member:
Receiving consumer feedback
Meeting with and hearing from both staff, residents and their families provide insight into operations and the broader context in which operational risks exist. This could be achieved in a number of ways:
- resident & family surveys
- staff surveys
- attending a facility function or event eg. Resident Christmas party
- participating periodically in resident engagement committees
- visit aged care sites
Awareness of critical incidents
Critical incidents can be another indicator of how…
