To create a truly high performing board, consider some of this advice on how to evaluate board performance from Leadership Advisor Group, respected for high quality board assessments of some of the top listed companies in Scandinavia and UK. Their custom evaluations go beyond online surveys to include other modules.
Read more and/or download at link below.
Why and how to evaluate board performance and build better boards- by Leadership Advisor Group – 2020
In the current environment of rapid change, boards are asked to play an even more crucial role in steering their companies through turbulent times. This means that ensuring the right non-executives are at the table and maximizing the board’s effectiveness are key elements in the company’s success. But we all are human, and even non-executives are at risk of not seeing the forest for the trees or letting group think impact their decisions. A board is in many ways a team, so it should be coached like any other team.
Having an objective third-party board evaluation can open everyone’s eyes to potential pitfalls and inspire the board members to evolve from good to great. So, what elements can a board evaluation contain? It depends on the company’s situation and whether the board needs a full-fledged review or just a small follow-up on last year’s board evaluation. Here are a few suggestions, ranging from basic to a more advanced spectrum, based on our experience carrying out board evaluations for various boards in Europe. You can read more about each of these in the PDF linked below.
- Bespoke online questionnaire with anonymous answers
- Overview of non-executives’ attendance, dependence vs independence, longevity and over-boarding
- Individual interviews of each board member
- Competence mapping
- Competence benchmarking
- Board meeting observation
- Board competence – risk – alignment
- Culture survey
- Evaluation of diversity of thought