Our services on Board evaluation give an idea of how the board should approach its position in corporate governance; fully prepared, for the benefit of achieving the desired outcomes and results outlined in the board’s overall strategic plan.
The board, its composition and evaluation of performance is central to corporate governance. By increasing scrutiny to board evaluation, we focus on the activities of the board and its committees particularly post the banking crisis and experience, which may show a successful board, is not guaranteed by just bringing together successful people.
All boards, and their committees, can benefit from evaluations: particularly subsidiary boards which are often training grounds for listed companies. They get an early expose to good governance that may equal a good pay of dividends later on.
Board evaluations can bring remarkable benefits and a properly conducted evaluation can contribute notably to performance improvements on three levels: organizational; board and individual member level. A quick and simple audit against the basics standards for directors and board processes with a suitable action can lead to an immediate improvement of corporate performance.
One of the main goal of board evaluations is to enable boards to identify and overcome the barriers that hinder their effectiveness. Establishing an effective process for board evaluation can send a positive signal to the organization that board members are committed to doing their best.
We will check that there are clear board procedures in place, with all board members fully understanding their role and having the special skills that directors need. These processes will enable you and your board to significantly raise your game and eventually increase your professionalism.
The nature of the assessment process for boards of directors varies widely: