Board Effectiveness Reviews
When companies tackle corporate governance, one area which may end up in the “too difficult” basket is that of board evaluation. Directors can feel quite apprehensive about performance assessment and shy away from such a review. Many companies will run an internal process, which can bring about some useful changes, however, the pressure is growing for an external review as now recommended for larger companies by the UK Corporate Governance Code.
Our board effectiveness reviews are designed to be helpful and practical. As well as a sound knowledge of corporate governance best practice we work with many boards of directors (and governing bodies of other organisations) and understand the issues and sensitivities involved. We will discuss your needs and expectations before the process begins, when you can highlight any particular matters which need to be taken into consideration.
Our process is relaxed and unthreatening – but thorough. We will find out from the directors (and others close to the board if appropriate) what works well and what could be done better. We can compare the way your board works to the latest governance best practice principles. We will make recommendations to help your board, which are not the same for every organisation, but based on the outcome of our review.
We want you to get the most out of a board effectiveness review. We recognise that directors’ time is valuable. After the review, we will help you create an ongoing action plan for the board to monitor to ensure you reap the benefits of the effort put in.
Our board effectiveness reviews can be extended to committees. There are certain topics which we recommend you include but each review can be tailored to suit the particular needs of an organisation at any time. We cover a wide variety of sectors, including not for profit organisations, pension fund trustee boards, NHS trusts, charities and so on as well as commercial entities.
Please contact us to discuss your requirements.