Measuring Outcomes - Susan Chapman-Hughes
Executive boards have started their long-overdue focus on diversity efforts. An unfamiliar territory to many, boards are struggling with onboarding strategies but doing their best to make the appropriate changes. I spoke with the JPM podcast ‘What’s the Deal’ on the changes in the interview and evaluation processes for boards that have come with the organization’s diversity efforts. In this part of the podcast, we discussed the best way to measure outcomes in order to have top-level talent on your board.
“When it comes to measuring outcomes, you have to start somewhere. The reality is that senior executives are driven by how they are compensated. It is important for boards to have a compensation plan meaningfully built into their structure. It shouldn't be something vague like ‘1% of your compensation is dependent on whether or not you reach your ESG goals’. It has to be a more meaningful measure - if in the start those measures are things like checking the boxes of the types of people in your organization - that is all right too. This is a measure that can keep evolving, it's just important to be clear about the metrics and why they are important in terms of the outcomes of the business.
“Clarity is key. If you choose a criterion that is hard to measure — you are simply overcomplicating for no reason. It is important to start somewhere. I believe that stakeholders will slowly push for more consistency in the measurement over time by industry.”
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About Susan: Susan Chapman-Hughes is a connected leader with experience in several industries. As a growth strategist, she transforms traditional businesses into modernized digital models through driving engagement in various sectors and implementing revolutionary expansion strategies. Her interpersonal skills and relatable personality have allowed her to easily build trust and offer a people-centered approach to inclusive, empowering, and energizing leadership. She currently serves as an independent board director for Toast, Inc. and The J.M. Smucker Co.
