Passing the board torch: younger directors can bring points of view that bolster the bottom line.

• Author: Faas, Andrew
• Position: GUEST COLUMN

Millennials aren't likely to have a board appointment on their list of career ambitions, but companies of all shapes and sizes would do well to consider attracting them. They bring a strong sense of what's right and wrong and natural tech savvy, among other traits that could bolster the bottom line.

Here are some of the ways they can change boards and companies:

Checks and balances

Millennials distrust almost anything related to the establishment thanks to years of corporate and political scandals playing out in the 24/7 media. Given that distrust, they will challenge the organization's reputation and, if considered for a board position, will question the board's role as a check and balance to management.

To illustrate, the Wells Fargo board was either negligent and or complicit in the "up sell" scandal. When this was first exposed a few years ago, it does not appear that anything was done at the board level to correct the situation. It was only after it blew up last year that the board split the chair and CEO roles and made a few changes to the board. To regain the trust of their customers and employees, a complete overhaul of governance is required.

As millennials represent a huge portion ofWells Fargo's customer and employee base, they are well advised to recruit millennials to populate their board.

Digital natives

There is great merit in having board members who not only understand the opportunities that technology offers, but are equipped to know how it works.

Millennials, because of how they learned and grew up, are much better than boomers at applying current technologies. Even more importantly, they are better at anticipating new technology that will create efficiencies; develop new--and improve existing--offerings and distribution; communicate and understand customer and employee motivators; be more agile; reduce defects and deficiencies; predict and project outcomes; promote and market the brand; protect the brand and identify potential risk factors.

Engagers

Today, innovation and creativity, as well as challenging the way things used to be done, are what create points of differentiation. I have found that the best ideas come from within. Gallup polling reports that 70 percent of North American workers are not engaged. Not only are disengaged employees less productive, they do not contribute to innovation and creativity. Sadly, rather than change their workplace culture, organizations rely on external consultants to fill this...