2022 NACD Public Company Board Practices and Oversight Survey

The 2022 NACD Public Company Board Practices and Oversight Survey report presents an overview of boardroom activities and trends in several critical areas, including cybersecurity, ESG, DE&I, and human capital. It also includes information on boardroom dynamics, with data on how directors identify outstanding board performance and common barriers to high-level performance.

Key Findings

Despite many pressing economic and political challenges, the competition for talent remains at the top of many directors’ lists of key trends for the next 12 months. The increase in competition for talent continues to top the issues of concern for responding public company directors for the second year in a row, even amid growing concerns about the economy. The next two highest ranking issues, “growing inflation” and the “uncertain pace of the economic recovery” (tied with the “increasing pace of digital transformation”) highlight these growing economic concerns.

Faced with increasing cybersecurity risk, directors warm to the idea of adding a cybersecurity-savvy director. Eighty-three percent of respondents indicate that their board’s understanding of cyber risk has significantly improved compared with two years ago. Yet, amid the growing speed and sophistication of cyber threats, as well as the increased scrutiny of regulators, directors increasingly see a benefit in adding a cybersecurity-savvy director. Forty-two percent of respondents indicate that recruiting a cybersecurity-savvy director would benefit their board, compared to 36 percent of public company respondents last year.