Board wordcloud

Annual reporting?

This time of year marks the wrapping up of one set of accounts and commencement of a new set. It’s a time when we reflect and report on the activities and progress made over the previous 12 months. A time where historically, the focus on the end of financial year may weigh more heavily on the health of the balance sheet than valuable non-financial outcomes.

Upon reflecting over the past 12-18 months, we might find ourselves asking new questions. Questions like:

– How has the pandemic given us a different perspective?

– Has the greater noise around climate change and social movements started to weigh in?

– Has our experience in survival mode caused a reshuffling of priorities?

So what might annual reports look like this year? We all know the realities we’ve endured throughout the year so does this time also mark the opportunity to transition to more upfront and transparent reporting?

If so, what are the metrics and/or indicators? What value is your organisation truly delivering?

Preparing such a report may take some different thinking to connect with your stakeholders and community.

Traditional metrics are often about quantitative achievements for the investment made however perhaps there’s opportunity to increasingly consider more qualitative achievements?

In asking a few new questions, you may find you can gain different insights to those previously. At the very least, this year’s reporting process allows the chance to review value delivery in a different light.

After the year that’s been, there will be plans that weren’t delivered. Whilst it may be hard to admit, it’s part of the reality! Value may be down and more could have been achieved but in terms of non-financial benefits, is it case of ‘something is better than nothing’?

If ever there’s been a time to crack the transparency nut, perhaps now is it? This approach may feel uncomfortable but you may be surprised at the response from your community. You may even receive open arms in support of your efforts and openness!

 

Similar Posts

  • Podcast!

    I had the fortunate opportunity to feature with Melanie De Gioia and Dom De Gioia on the Engineering Heroes podcast! My first podcast! We had a relaxing conversation online about my career journey from being a site engineer to the boardroom. My Engineering Heroes podcast covered ‘Engineers on Boards’ and discussed the need for technical…

  • Big questions…

    With so much change across the landscape, the impacts from the pandemic and a new financial year on the horizon, many questions are being asked…What are boards doing? How will boards respond over the horizon? What directions will they take? No matter the type of organisation, many have found themselves in a very different place…

  • Thinking of Boards?

    What do you think of when you hear the words ‘Board’, ‘Boards’ or ‘Board of Directors’? Do you think of big companies and big decisions? Or do you think about smaller organisations across society? Do you know there are many types of boards across all sectors including not-for-profit, community, government and private business as well…

  • Insights & Input

    Being in lockdown, viewing of the two Olympic programs has been a welcome relief from trying to find another suitable family movie or documentary not yet watched since the beginning of the pandemic. In viewing both line-ups, I have found myself in awe of the talent and skills displayed by humans of all abilities. The…

  • Love it…

    What I love about my work in the world is helping and supporting amazing people… whether they are individuals as directors or boards as a collective. I love that I can work with talented people whether they are established, new or aspiring directors. I love that I can support them on their pathways no matter…