Tracy E. Houston, M.A. is the President of Board Resources Services. A specialist in board of directors consulting and executive leadership, Tracy focuses on leadership and strategy, consulting primarily with directors, presidents, and senior officers. Tracy is a strong believer in succession planning and was surprised to see the results of a new study, Men And Women Corporate Directors Remarkably Aligned On Strategy – But Not Diversity, which showed that only 1% of women and zero percent of men rated succession planning as their strongest area of board expertise.
Tracy believes public company boards need to keep pace with change. "Board composition for competitive advantage is a critical focus area for the 21st century," says Tracy. "In today’s world, it is vital that a board of directors has closely examined both the on-boarding and off-boarding of directors in a strategic manner. With that in mind, here are a few next steps to move in that direction:
- Define and prioritize current needs to take the company to the next level of growth from the strategic plan;
- Define the experience and expertise that is the best fit to advance the company for competitive advantage;
- Do a skills gap analysis on the current board members and recruit to those gaps."