The Better Boards Podcast Series

Send us a textRecent research revealed that 87% of board members believe market disruptions are becoming increasingly frequent, and 83% say they are increasingly impactful. At the same time, 79% believe risk management will be critical in enabling their organisations to protect and create value in the next five years. In this podcast, Dr Sabine Dembkowski, Founder and Managing Partner of Better Boards, discusses the risk environment with Zahra Cassim, CEO of Corporate Secretaries International Association (CSIA) and David Samy, Consulting Partner at EY Hong Kong."There's often not enough time on the agenda to deal with what might happen in the future"Zahra explains that there has previously been a general lack of board focus on risk oversight. Risk has tended to be driven and managed in functional silos, resulting in a lack of a structured approach to collecting and analysing risk information. This has been compounded by the underutilisation of technology and the right tools to analyse those risks. Finally, there can often be poor communication of risk from business units through senior management to theboard level."What the boards need to do is to prepare for a GREATER range of disruption and risk"David believes that risk fatigue may occur in a lot of organisations. The risks are very clear, but where the board is inexperienced and there is a lack of guidance or stewardship, the board can lose focus, and be unable to give long-term risks the attention they deserve. "Risk management programmes have not caught up and have remained a very high to be static"David cites a 2020 survey of boards' confidence in their organisations' ability to counter cybersecurity threats was at around 20%, but by 2021 this had dropped to 9%. He explains that this is an alarming decline and has a lot to do with how risk and risk management programmes are being run at present.   Digital modernisation has accelerated within most organisations in the recent past, but risk management programs have not really caught up. "Risks are managed in silence, and so very often not communicated to the board"Zahra explains that one of the critical tasks of the Corporate Secretary is to consolidate information, ensuring that the board is fully aware of all risks when making decisions. But they also need to ensure they integrate risks into their strategy. "There's always a solution for every situation"David offers some practical tips. First, start with driving awareness at the board level, by identifying a risk steward, a role the governance professional or Corporate Secretary can play. His second tip is unlocking the value of ongoing digital transformation by tapping into Governance Risk and Compliance (GRC) technology to create a single view of risk across all functions, leverage available data sources, and simplify the process, while enabling a common risk ecosystem and shared focus across the organisation.The three top takeaways from our conversation are:1.      As trusted strategic advisors to the board, governance professionals are uniquely positioned to help the board align strategy to the regulatory landscape, technological advances, and ESG-related concerns. 2.     Corporate Secretaries are increasingly approached to facilitate enterprise risk management. Their understanding of business concerns and organisational culture and their ability to be the bridge between the board and management is valuablIf you would like to become part of the Better Boards community, learn about our distinctive approach and explore opportunities to work with us or contribute to The Better Boards podcast series, get in touch at info@better-boards.com. We love to hear from you.

Send us a textOrganisations are facing major challenges. Many boardrooms have not yet caught up with the avalanche of recent and current profound changes, and both boards and members of nomination committees need to think carefully about talent and the C-Suit. It is easy to talk at a high level about moving from a shareholder economy to a stakeholder economy but what does this really mean for the selection and development of the C-Suite?In this podcast, Dr Sabine Dembkowski, Founder and Managing Partner of Better Boards, discusses the implications of major changes on the selection and development of top talent with Professor Joe Fuller. Joe is a Professor at Harvard Business School and co-founder of the Monitor Group, now known as Monitor Deloitte."We've moved away from just looking for executives with deep industry experience"Joe outlines how his recent research highlights that it is no longer safe to assume that leaders with traditional managerial pedigrees will succeed in the C-Suite. While executives with deep industry experience and high-order process management skills are always good candidates, new criteria around social skills have been added to the desired mix. "Boards of directors tend to hire and evaluate in the way they learned over the course of their careers" Joe believes this issue represents a real challenge for boards. Historical criteria looked at the track record, career progress, responsibilities, and business units or companies. However, those measures were flawed. Traditional ways of evaluating people are subject to error - and now evaluating the new skills required is both different and difficult. "To assist management in hiring a new senior executive… broaden the aperture on what they evaluate"Joe explains that, in his opinion, the first thing a board or committee member hiring a new senior executive needs to do is broaden the aperture of evaluation and widen the kind of experiences they want to see represented in a track record.  "The stakes have never been higher, and the punishment never greater for getting it wrong"Joe points out that senior executives must refine their management and/or communication styles for today's social media. Essentially, anything said at any point during their working day may end up on a platform with global reach and almost no barriers to being observed. The stakes have never been higher. "We have to set aside some of our rather, frankly, lazy approaches to evaluating people"Joe believes that boards need to make clear to executive search firms that they seek people with experience managing different constituencies and handling volatile problems successfully, not proof of someone's performance in more traditional measures. "This is a new era that requires new solutions, and old dogs with old tricks is not going to be a sufficient response"Joe also speaks about internal candidates and highlights how succession planning can be tweaked to grow candidates with the skills required. Career planning and career paths for high potential young executives are essential. The three top takeaways from our conversation are:1.      The whole field of human assets is undergoing a radical transformation and the old rules will not suffice. 2.     The paradigms used for advancing executives and candidates for advancement and the types of experiences and competenciIf you would like to become part of the Better Boards community, learn about our distinctive approach and explore opportunities to work with us or contribute to The Better Boards podcast series, get in touch at info@better-boards.com. We love to hear from you.

Send us a textDiversity is high on the agenda, yet we still see something different in the boardroom, where more often than not, boards are filled with individuals whose nationality only matches that of the country of the headquarters. FTSE boards are filled with British nationals, DAX boards are filled with German nationals etc. It is clearly challenging to establish a global mindset in the boardroom.In this podcast, Dr Sabine Dembkowski, Founder and Managing Partner of Better Boards, discusses the issue of establishing a global mindset at the board level with Thomas Kipp. Thomas served on the board of Deutsche Post DHL and Aramex and worked and lived in Europe, North America and Asia. He is the newly appointed CEO of Naquel Express."Be respectful and authentic"Thomas believes his upbringing contributed to his ability to adapt quickly to different cultures. He explains that being curious and open-minded to other cultures enables you to really understand how things are done. His best advice is to be respectful and authentic. "It's important to try and understand how you can leverage a global footprint"Thomas gives examples of this when working in Japan, where establishing trust takes time. In the United States, he learned to present ideas as if they were coming from the local teams, making it their idea and their success. In Spain, he found that Spanish people were not so comfortable speaking in English, so allowing interludes for speaking in their own language (letting the emotions and the Southern European passion out), then reverting to English, bringing everyone together again, created more focus. Appreciating the local business environment enables small 'tricks' to have a big impact. "You will find various angles of difficulty in creating… …the same level playing field as if you were dealing with business matters in your home market" Thomas feels that the first difficulty in bringing a global mindset to the boardroom is posed by simply practical reality. In any given country, it is likely that not too many board members will have lengthy, practical, work experience in another country. He states that only around 4% of the world's population has ever left their home country to work for a lengthy period of time. "We say we're operating in international markets, but it doesn't really show in the way we're running the company" Thomas points out that running a business with an international element is a clear strategic decision. Practically, that decision needs to be carefully thought through in terms of what it will mean for the organisation, for designing or redesigning the leadership team, and what it will mean to integrate the international business into the company setup actively. He suggests that the leadership team and board must represent the international reality. The three top takeaways from our conversation are:1.      It is a serious strategic and business undertaking to expand business internationally. There should be a clear conscious effort to reflect this in the leadership and organisational setup, from the boardroom down to the shop floor2.     On a personal note, board members need to overcome insecurities, immerse themselves in the international business environment, and make a conscious investment in understanding how to better leverage their international capacity and capabilities for the success of the company3. If you would like to become part of the Better Boards community, learn about our distinctive approach and explore opportunities to work with us or contribute to The Better Boards podcast series, get in touch at info@better-boards.com. We love to hear from you.

Send us a textCEO appointments are an important responsibility of Boards. Accordingly, Boards need to ensure they have adequate qualified internal and external candidates for successful CEO selection processes. Creating CEO readiness for internal candidates is as important as working with external search advisors.In this podcast, Dr Sabine Dembkowski, Founder and Managing Partner of Better Boards discusses CEO readiness with Dr Wayne Nelson, Senior Partner at Deloitte Consulting and Strategy Consulting Leader Europe, Middle East and Africa (EMEA) at Monitor Deloitte. He is also Head and Founding Dean of the Deloitte Executive Leadership Institute. "Nature and nurture both play a role in the development of leaders"Wayne starts by explaining that, of course, both nature and nurture play a role in the development of leaders. Wayne found that roughly 30% of participants are 'accidental CEOs.' These leaders stumbled into the CEO role by being in the right place at the right time, and happen to have the required skills and experiences. These leaders, however, had no plans to become CEO. However, most CEOs intentionally sought out the role. Wayne feels this suggests that leaders can do intentional, deliberate things to increase their readiness and chances of moving into a CEO role.  "The CEO role is a very challenging one that comes with huge personal sacrifices"Wayne suggests that the CEO role often brings isolation and loneliness, and requires a thick skin and an ability to be resilient.   Candidates need to realise this and be sure they really want the job and are willing to make sacrifices. "We're seeing a whole new generation of executives"Wayne explains that company products have well-defined attributes and values, communicated with great care to ensure clarity and consistency. Executives in the market for a CEO role also need to define a brand for themselves - simple, relevant, and authentic. They need to communicate this consistently, over and over again, and new social media channels are ideal for this. "The best CEO hires are fit for circumstance"Wayne explains that 'fit for circumstance' means that the best CEO hires can explicitly connect the company's circumstances with an attractive future vision – and then connect these to their own experiences, capabilities, potential, and motivation. The four key elements defining fit for circumstance are (1) The situation, expectations and vision for the company. (2) The type of leader the company needs. (3) The candidate's capabilities, experiences, and potential. (4) The candidate's motivation and authentic self. The best CEO hires fulfill all four."Board members need to think about what type of leader the company needs explicitly"Wayne has seen that very experienced board members have categories of CEO types in their minds that they can easily match with the current situation of the company. This needs to be discussed early on, however, not in the heat of the moment and not during recruitment when a selection is being made.   He believes that succession planning needs to be done early, and thus for a CEO role, internal candidates should be developed, not necessarily always looking externally via search agencies.The three top takeaways from our conversation are:1.      The best CEO candidates can articulate their "fit for circumstance" and make a real effort to hone their "story."2.     If you would like to become part of the Better Boards community, learn about our distinctive approach and explore opportunities to work with us or contribute to The Better Boards podcast series, get in touch at info@better-boards.com. We love to hear from you.

Send us a textOrganisations face ever-increasing scrutiny, and their purpose beyond making monies for their shareholders matters more than ever. In a previous podcast, we discussed Generation Z. For this younger generation, corporate purpose matters even more. So in this podcast, we explore the role of the board in defining the purpose of the organisation, and the importance of aligning purpose with the strategy and culture. Dr Sabine Dembkowski, Founder and Managing Partner of Better Boards, discusses the role of the board in defining the purpose of the organisation with Gill Meller. Gill is the Legal & Governance Director of MTR Corporation, a company headquartered and listed in Hong Kong, responsible for the construction and operation of the Hong Kong metro system and the development of transit-oriented communities. "Profits are simply the result of the activities that you carry out"Gill believes that corporate purpose is incredibly important because understanding your purpose means understanding why the organisation exists and was established. Corporates have to be financially sustainable, but she argues that profits are simply the result of the activities you carry out, and they are not in themselves a purpose.  Gill feels that knowing and understanding corporate purpose is important for two main reasons. Firstly, a corporate purpose gives people, something to "get behind." In particular, Gen Z employees tend to want to work for a company whose purpose they feel makes a positive contribution to the world. Secondly,  she explains that purpose gives you a "guiding star" when trying to make difficult decisions. "What sort of problem were we designed to try and address or help solve?Gill believes the role of the board is critical. Following changes in Hong Kong's stock exchange corporate governance code last year, the board's role was enhanced, explicitly saying that a company's purpose, values and strategy should be established by the board and aligned with the culture. "Culture is incredibly important, as is aligning your culture with your strategy"Gill believes it is important to try to establish alignment between purpose, strategy and culture. She sees culture as a crucial part of corporate governance. She feels that in today's world, where compliance is no longer enough, companies are now expected by a broad group of stakeholders to be doing the 'right thing.' Unfortunately, stakeholder perceptions of what the 'right thing' is can change very quickly. The culture needs to be agile enough to respond to those changes. "Sometimes people are uncomfortable with raising bad news"Gill feels certain aspects of culture probably benefit every company, such as a 'speak up' culture or an agile culture that can respond to changes in the external environment. However, she notes that creating a 'speak up' culture is a challenge, especially within the Asian culture, where organisations are predominantly hierarchical. People can feel uncomfortable raising bad news up the chain of the organisation, so she advocates repeating the message from a cultural perspective that this is what is needed.The three top takeaways:Ask questions about the purpose of the organisation and seek to understand it to really get to the why of the organisation. Challenge yourself, and ask yourself whether strategy and culture are aligned with purpose, and if not, what you can do to try and seek that alignmeIf you would like to become part of the Better Boards community, learn about our distinctive approach and explore opportunities to work with us or contribute to The Better Boards podcast series, get in touch at info@better-boards.com. We love to hear from you.

Send us a textThis podcast was recorded in August 2022, just after a record-breaking heatwave in the UK. Since the start of temperature recording in 1884, the ten warmest years in the UK have all been recorded since 2002. At the same time, rainfall is the lowest since records began, and hosepipe bans have been introduced in parts of the UK, while wildfires are raging across Europe. Climate change has become evident. However, some Directors feel a greater sense of urgency than others. In this podcast, Dr Sabine Dembkowski, Founder and Managing Partner of Better Boards, talks with Susan Hooper. Susan is Chair of Tangle Teezer, Chair Designate of Inter. Earth, and sits on the Boards of Moonpig plc, EUROWAG plc, and Uber UK.   She is Acting Chair of Carbon Gap, a Founding Director of Chapter Zero, and she is involved in several start-ups in carbon capture and sustainability.  Susan is also an Ambassador for the World Travel & Tourism Council."Climate change is time-boxed - we know the clock is ticking"Susan points out that as recently as 2018, climate change was usually not on the agenda or discussed in board meetings. It is now but mainly because of external requirements. She believes that one of the reasons for the lack of attention to climate change was the lack of understanding that this is not "just another crisis" but a situation without precedent. "For every risk and issue that you are trying to solve, there is at least one opportunity that you hadn't even dreamed was there"Any problem can seem insurmountable but Susan says in these cases, you need to break it down into small manageable parts. The reality is that once this is done, people can understand and find solutions. "Not everyone feels comfortable with the depth of change that is needed"Susan feels that at the board level, there can be a feeling of overwhelm about change. Directors typically come to the board with decades of experience, knowing how to manage the circumstances prevalent in those decades. However, environmental issues can place them in uncomfortable territory. "You definitely don't want to be the lone voice"Susan explains that climate change is a topic where she can find herself the lone voice on a board. She feels board members have to be comfortable with not being "loved." "You've got just to keep chipping away at this issue" Susan points out that this subject keeps changing, so the learning never stops. In the absence of climate specialists on the board, the rest of the board must inform themselves. She has found that bringing in outside advisors to speak helps board members to learn. "This is an important issue that needs attention and to be embraced by the board"Susan confides that she has made a personal pact with herself not to work for a company where the CEO and/or Chair is not recognising that this is an important issue that needs to be embraced by the board. "We mustn't expect everyone to become climate specialists"Susan reminds us that board members are responsible for ensuring that climate competency is within the company in such a way that it will address the issues but not every board member needs to be a climate specialist. Change is needed required in the next three to five years, or the targets for 2030 and 2040 are "pipe dreams." The three top takeaways are:Never underestimate the influence of a Non-Exec Director, despite beinIf you would like to become part of the Better Boards community, learn about our distinctive approach and explore opportunities to work with us or contribute to The Better Boards podcast series, get in touch at info@better-boards.com. We love to hear from you.

Send us a textDigitalisation is a tsunami reshaping the world and challenging organisations. However, few Directors have both the first-hand experience and the know-how to oversee organisations’ digital challenges. In this podcast, Dr Sabine Dembkowski, Founder and Managing Partner of Better Boards, discusses digital know-how with Hassan el Bouhali from Toronto, Canada.  They discuss the barriers to bringing digital know-how into the boardroom, steps organisations have taken to increase their board digital acumen, where boards can find the digital talent they need, and what they need to do after recruiting a suitable candidate. Hassan is a business executive with 25 years’ experience in various industries leading to SVP Business Transformation & CIO roles for global multinationals.  He holds board advisory positions with established industrial companies and is active in the Canadian tech ecosystems as a Mentor and Angel Investor.Hassan explains that no industry is immune from digital disruption. Despite this reality, he observes that most boards lack the required digital knowledge or what he calls a ‘digital IQ’ to fully face digital opportunities and risks.  Moreover, even when boards do hire digital savvy executives, it is generally difficult for these new members to steer board discussion beyond basic tech risks. He notes that deep strategic discussion about how digital is transforming the industry value chain and the company business model are still the exception. Hassan believes that the biggest barriers to getting digital know-how into boardrooms are:  1.        There is often an entrenched belief that the management practices that worked in the ‘industrial age’ are still valid for the digital age.  2.      There is the natural human aversion to risk. Embarking on a true digital transformation that changes the value chain or transforms the business is inherently risky.3.      The nature of technology itself is also a key factor. Hassan says.  Digital technologies are different from industrial age ones by design, making them difficult to comprehend.Regarding best practices in bringing technology into the boardroom, Hassan feels things are improving.  Firstly, he finds that most organisations now have a digital committee. Secondly, he observed the value of digital development programmes that increase the overall board's digital IQ. Thirdly, he sees an increase in the frequency of discussions about technology and digitalisation, as well as changing the focus of discussion from risks to growth opportunities.Hassan notes that board members need to govern the enterprise not run the business. New board candidates need a high level of ease with technology, and to have done or delivered technology-driven products, projects, or large-scale transformations that allow them to understand how technology enables or generates value in economic terms. Once suitable talent has been recruited, onboarding is crucial.  Here the Chair has an important role in giving the new members time to speak up and most importantly, to be open to the new jargon and the new mix of opportunities and risks that technology and digitalisation bring to the table.The three top takeaways from our conversation are:1.      Disruption is real and accelerating in every industry, and this has major implications.  The board must be aligned with the opportunity that digital presents2.     The digital IQ of the board must be collectively increased with experieIf you would like to become part of the Better Boards community, learn about our distinctive approach and explore opportunities to work with us or contribute to The Better Boards podcast series, get in touch at info@better-boards.com. We love to hear from you.

Send us a textThe war for talent has become the top business issue and in response, many business leaders are reviewing their overall business model and employee value proposition.  Handling this challenge successfully requires strong leadership from both the executive team and the board.  As custodians of the brand, reputation and organisational culture, the board is key to this process, and boards can therefore be powerful ‘agents of change’.In this podcast, Dr Sabine Dembkowski, Founder and Managing Partner of Better Boards, talks with Denis Woulfe MBE. Denis is the Co-Chair on the board of ‘Leaders As Change Agents’ (LACA) and a Trustee at The Royal National Lifeboat Institute (RNLI), where he also serves as the Chair of the Audit and Risk Committee.  He has served on numerous public interest boards and is a former governor at the University of the West of England.  Until 2017, Denis was a Partner and Vice Chairman of Deloitte LLP, holding many leadership roles with the firm.  His roles included serving as a board member and on the Audit and Risk Committee for 8 years.  In 2018 Denis was awarded an MBE for services to Women and Equality.’Some of the key takeaways of the conversation include:“We're not putting forward a ‘one size fits all’ for all businesses.”Denis notes that each business is different in geography, scale, industry, ownership structure etc, so a ‘one size fits all’ would be impossible and inappropriate.  He describes LACA’s 8 foundational principles, which executive teams and boards may wish to take into account when developing their own plans, appropriate for their individual businesses. Those principles are drawn from best practice research. The first principle is empowerment and choice, and Denis explains this is about giving employees an appropriate voice and enabling them to feel connected to the business, which is key to their commitment and support.  The second principle is to have diversity, equality, and inclusion as a foundation of the workplace culture, so everybody feels both welcome and included. The third principle is growth and development because everybody wishes to progress in their job and be given opportunities to develop their skills and experience.  Fourth is commitment and engagement, gaining the views of employees and engaging them in certain decisions that affect them.Denis goes on to describe participation in decisions as the fifth principle, and an important key to feel involved.  The sixth is work-life balance, which he explains will be different in different organisations, but businesses need to ensure that people's work-life balance is respected.  Seventh is fairness, and Denis promotes this as being for both sides.  The final point he outlines is recognition and reward, not just in terms of pay, but in ensuring employees are recognised and rewarded for the contribution they make.The three top takeaways from our conversation are1.      It has never been more important to try and address these challenges, and this is very firmly a leadership issue, which requires a strong and consistent leadership response2.     Getting this right can be a key source of competitive advantage for individual businesses, and it goes to the heart of the strategy and culture of the business.  Obviously, the board has a pivotal role to play in driving and oIf you would like to become part of the Better Boards community, learn about our distinctive approach and explore opportunities to work with us or contribute to The Better Boards podcast series, get in touch at info@better-boards.com. We love to hear from you.

Send us a textMany Executives dream of a portfolio career, even attending specially designed courses, paying to qualify and increase their chances of securing a seat at the top table.  Yet only a relatively small number manage to create a strong portfolio and become a “Professional Non-Executive Director.”In this podcast, Dr Sabine Dembkowski (Founder and Managing Partner of Better Boards) discusses non-executive directorship with Ian Murray, Chair of mining companies Jupiter Mines Ltd and Matador Mining Ltd, Non-Executive Director of Black Rock Mining Ltd and Geopacific Resources Limited, as well as Director of Miners Promise Ltd and Miners Promise Australia Ltd.  Ian has received prestigious awards including the CEO of the year award.“Different companies at different stages of development, different geography, different commodities"Ian relates how he was first appointed as an Executive Director, from where he progressed to CEO and Managing Director, before making the decision o diversify his experience across a number of companies and move to non-executive roles.  Ian especially advocates diversity - working with different companies at different stages of development, different geographies, and different commodities. “Learn to be a jack of all trades and understand what's required across the full spectrum”Ian believes the key advice for executive directors is to focus on their current job and building successful careers, becoming better known in their industry, and thus more likely to be sought after for non-executive roles.  “Keep out of the kitchen”Ian explains that the switch from executive to non-executive director takes discipline because as an executive you roll up your sleeves and get involved  “hands on in the kitchen” as it were.  As a non-executive, it is essential to always take a step back, remembering the role is to provide guidance and mentor the executive team while keeping your radar operating.  If things start to go off track, you can then advise the management team, step in and make changes as soon as possible, before things go badly off track. What haven't the management team been telling you?”Ian feels the role of a non-executive in board meetings is to listen and engage with the updates and presentations from the management team, then to process that information and come up with insightful and probing questions. What hasn't the management team been telling you? What other information should the non-executives be aware of that hasn't been presented?  Look for the gaps in the information. “You have to take it seriously; you have to put in the investment”Ian notes extensive work is required between board meetings reading, researching, engaging with management, asking follow-up questions and issues of clarity, plus undertaking any pieces of work that have been delegated from the board.  He estimates that for every board meeting, there are three or four hours of preparation time.  He allocates approximately one day per week to a non-executive role, so 50 days a year – and for a Chairman role, two days a week or 100 days a year. The three top takeaways from our conversation are:1.      Being a non-executive is a career, not a lifestyle, and needs to be taken seriously between board meetings as well as during them.2.     Time commitment is very important, and for every hour of the board meeting, there arIf you would like to become part of the Better Boards community, learn about our distinctive approach and explore opportunities to work with us or contribute to The Better Boards podcast series, get in touch at info@better-boards.com. We love to hear from you.

Send us a textGeneration Z in the BoardroomWhether in gender, race, or age, diversity can allow companies to tap into a variety of perspectives, experiences, and expertise to solve problems and generate new ideas. But for the first time, we have workplaces today where four, even five generations work side by side. Conflict and unconscious bias can arise from generational differences in values and working styles. Unfortunately, research shows that those in senior positions (and often more senior in age) are the most biased.Left unchecked, inter-generational conflict could lead to resentment, low morale, less engagement, and as a result lower productivity. Therefore, boards must understand the management challenges of a multi-generational workforce. They also need to examine their level of understanding of the youngest under 24 – Generation Z. In this podcast, Dr Sabine Dembkowski, Founder and Managing Partner of Better Boards, discusses Generation Z with Hana Ben-Shabat, Founder of research and advisory firm Gen Z Planet, and previously an elected partner and board member of the global management consulting firm Kearney. Hana helps business leaders prepare for the next generation of employees and consumers. She is the author of Gen Z 360: Preparing for the Inevitable Change in Culture, Work, and Commerce.  "Gen Z-ers are important because they are going to be the future talent of every company"Hana explains that Generation Z is defined as anyone who was born from 1998 to 2016, so aged 6 to 24.   Many of them are still children, but we are already starting to see this generation's effect on culture, the workplace and consumer markets. Generation Z is important because these individuals will be the future talent of every company and will form one of the largest consumer segments ever seen."Diversity is not only a demographic statistic, but it is also a cultural lens through which they view the world"Hana relates that Generation Z is unique in many ways, and she believes that this will affect company performance, either from a talent management perspective or from a customer perspective. This is the most diverse generation ever, and she is conscious that diversity is not only a demographic statistic to them. It is also a cultural lens through which they view the world. She also notes that this is the most digitally connected generation with a direct impact on the way they learn, think, communicate, interact, and the way they want to work. It is also the most educated generation. Hana also notes that this generation is challenged by mental health issues on a global scale, with 45% reporting being stressed most/all of the time. "The Z brands are demonstrating an excellent understanding of who this consumer is and what is important to them"Hana believes organisations need to focus on how successful they are in hiring and retaining Generation Z talent, especially in industries where the turnover of employees is very high. She notes that especially in the consumer market, a new wave of direct-to-consumer brands arises that she refers to as the 'Z brands'. The three key takeaways from our conversation are:1.      Check your biases; how often have you dismissed someone just because they are younger or didn't have the same experience as yours?2.     This generation is the most educated, and they are the digital natives. They have a lot to bring to the table anIf you would like to become part of the Better Boards community, learn about our distinctive approach and explore opportunities to work with us or contribute to The Better Boards podcast series, get in touch at info@better-boards.com. We love to hear from you.