The purpose of this session is to provide an appreciation of why psychological safety is such an important element in the modern boardroom. We will see why it can truly make a difference by understanding why it truly matters and what the benefits are. We define psychological safety and dispel some notions about what it is and what it is not, and assess its relationship to the boardroom and how a culture of psychological safety can be nurtured in the boardroom.

Content: We define psychological safety and what it looks like, particularly with relevance to the boardroom environment. We assess the risks of low psychological safety and contrast that with the benefits of a psychologically safe environment. By understanding what psychological safety is and what it is not, we explore the relationship between psychological safety and boardroom performance, trust, and a cultural environment of open and respectful debate. We assess psychological safety at the individual, team, and Organizational Levels. By knowing what psychological safety looks like, our next step is to create and nurture an environment in which people feel free to speak up, whilst understanding the limits to what they can say or not. The role of the Board Chair is pivotal to creating a safe culture and working environment, and we explore the leadership role that the Chair can take to foster psychological safety. How to create the right environment is critical for any board; you need to have the tools to put this in place. We will also look at some of the attributes and characteristics of a safe environment and analyze them from different perspectives.

Outcomes and Benefits: You will walk away with valuable insights into what psychological safety looks like and how to create the right environment to propel your board and organization to success through innovation and creative thinking. You will be able to facilitate a culture in which board members feel empowered, valued, and motivated to give their best to the organization and make effective use of the talent on the board to make inclusive informed decisions that reflect the bigger picture, recognizes stakeholders and enhances the reputation of the organization. 

Areas Covered

Course Level - Intermediate

Who Should Attend

Corporate Board Directors, Board Chair, CEO, C-Level Executives, Corporate Governance/Risk/Compliance Professionals, Board Secretary, Corporate Secretary.

Why Should You Attend

Is your board a psychologically safe space? Or is it a toxic environment in which new ideas are judged and sometimes ridiculed, and fear strangles the taking of risks and thinking in innovative ways? The psychological environment in which a board operates is critical to its success. 

Psychological safety describes a climate where we feel safe enough to take interpersonal risks by speaking up and sharing concerns, criticisms, questions, or a crazy idea without the fear of being punished or embarrassed. Where the formal or informal consequences of interpersonal risks, like asking for help, stating you do not understand, or admitting a failure, will not be punitive. It allows for productive disagreement and the free exchange of ideas in a respectful environment.

By contrast, boardrooms that do not exercise psychological safety can become toxic places where every comment is scrutinized and judged, creative and alternative thinking is frowned upon, and proper debate is stifled, to the extent that the board becomes so paralyzed that inertia and groupthink prevail and decisions are made on autopilot. This narrow approach will inevitably impair the quality of decisions made, and the culture of silence that results from excessive authority can have a potentially devastating impact on the organization.

In addition, the psychological impact on the individual director can be corrosive, leading to underperformance, disengagement, and failing to speak up on issues that threaten the organization, ultimately contributing to serious organizational failure.

Topic Background

Strategies for ensuring that your boardroom is a place that supports its directors to think creatively and innovatively without fear of retribution or humiliation in a safe, open environment.