How Many People Should You Have on a Board?

There’s no universal formula, but in governance, size impacts effectiveness. Too few members, and perspectives narrow. Too many, and decision-making slows.

Boards work best when designed for clarity, diversity and rhythm.

1. Governance Boards: Balance and Accountability

Most corporate or not-for-profit boards perform best with 5–7 directors. This allows:

• Enough diversity for robust discussion.

• Manageable quorum and scheduling.

• Clear accountability for committees (audit, risk, remuneration).

ASX-listed entities often average 7–9, while private or family firms keep to 3–5 for agility.

2. Advisory Boards: Flexibility and Expertise

Advisory boards are not bound by law, so size should fit the mission. A typical structure includes:

• Chair / Facilitator – sets rhythm and agenda.

• 2–3 Advisors – domain expertise (finance, growth, tech, governance).

• CEO / Founder – attends as primary beneficiary.

That means 3–5 people is usually optimal. Beyond that, discussions risk dilution and follow-through weakens.

3. Diversity and Cognitive Range

Regardless of size, high-functioning boards share one trait: cognitive diversity. Boards should represent:

• Different industries or markets.

• Complementary skillsets (finance, marketing, people, tech).

• Varied thinking styles; analytical, creative, strategic.

The goal isn’t numbers. It’s balance.

4. Signs Your Board Is Too Big or Too Small

Boards should review composition annually as strategy evolves.

The best board isn’t the largest, it’s the one where every member adds distinct value.
For most organisations, 5–7 directors or 3–5 advisors achieves the right balance between breadth and agility.

If you’re building or restructuring a board, contact us for a consultation to align board composition, governance rhythm, and strategy.