Can you imagine being disqualified from your career for 3 years or ordered to pay thousands in investigation costs to OLGR for the actions of a few bad apples?
Unfortunately, this is a significant risk for committee/board members and generally isn’t outlined in the paperwork.
You didn’t sign up for this, so how can you minimise the damage to your club and personal assets?
The answer is to keep yourself and your fellow committee/members informed. ‘I didn’t know,’ won’t defend you in a court of law.
In my Corporate Governance Committee and Development program, I cover the 7 core concepts of Corporate Governance among other topics crucial to a successful corporate governance framework.
1. Committee/Board Member & Director Personal Liability
The best way to protect you and your fellow committee/board members is to have a clear understanding of your roles and duties. Learn to create clearly documented position statements and expected KPIs.
2. Understanding fiduciary responsibilities
Deal with any trouble brewing on the horizon before the storm hits. Arm yourself with the knowledge to understand your club’s financial position and future-proof your club’s business strategy.
3. Conflict Resolution
While healthy debate should be encouraged to generate new ideas, do you have the skills to manage negativity and conflict within your board effectively? Learn how to master negotiation and manage potentially damaging situations.
4. Manage volunteers and sub-club responsibilities
With constant changes in legislation that filter down from the installation of a new government, it is vital to stay abreast of any changes. Manage volunteers and sub-club activities in accordance with the most recent legal requirements.
5. Club industry trends
Adapt to an increasingly changeable business landscape by educating yourself about the most recent micro and macro environmental factors to help your venue tackle threats and maximise opportunities.
6. Committee/Directors Meetings and Minutes
Knowing the rules and regulations is one thing, but do you have the skills to effectively communicate important directives to others? Learn the core concepts of efficient, clear minute taking.
As one of the most complex issues for committee and board members, it is also the area which carries the greatest risk if not properly understood. With significant changes in legislation concerning the hospitality industry, find out how this will effect business operations and how to best carry out your compliance procedures.
While a good manager will drive the greatest revenue and maximise earnings from its current facilities, it is a committee or board’s responsibility to make the right decisions that will ensure the future growth and profitability of the club.
Sign up to a Corporate Governance workshop today, and safeguard the future of your club while maximising it’s potential.