The #MeToo movement has changed the way organizations are approaching company culture, the issue of harassment and how to deal with crises.
In the video above, Corporate Board Member recently sat down with Doug Chia, Executive Director, The Conference Board Governance Center to talk about how things have changed in the wake of #MeToo. Three key takeaways from the discussion:
- It is time for boards to take a hard look at their contribution to company culture and their oversight responsibilities. Whether they like it or not, directors will be asked to and expected to be more hands-on in monitoring company culture.
- Setting the tone from the top. Boards should let it be know that there will be zero tolerance for harassment or harmful behavior, no matter the level of personnel involved, and that the board will act swiftly and decisively should it occur.
- Going above and beyond. As we’ve seen with Wells Fargo and other situations, the court of public opinion is far more powerful these days than the actual courts when it comes to holding directors liable. Directors need to make sure they are doing all they can in exercising due diligence and fulfilling the duty of care.