We advise and support Boards in areas where their effectiveness is scrutinized by shareholders, regulators, and the public. Leveraging practices such as Board competence and composition, Board evaluation, and individual Director feedback, we help Boards effectively create, preserve, and protect organizational value.
Three practical steps Boards can take to boost their effectiveness include:
Assess competence through the lens of the company’s strategy
- Does the Board have the skills and experience necessary to contribute to achievement of the strategy?
- Is the Board structured appropriately to support management in achieving the strategy?
- Does the Board have the leaders it needs to help achieve the strategy?
Clarify expectations and provide directors with feedback
- High-performing Boards are thoughtful and intentional about engaging all directors and the CEO in defining a culture that will ensure the Board can both drive and oversee strategic execution and value creation.
- Having defined culture and expectations of directors, one of a Board’s most powerful tools for improving performance is implementing a director peer feedback process that provides directors useful insights about their contributions.
Develop an annual plan to enhance the Board's effectiveness
- High-performing Boards also commit to challenging themselves to continually “raise their game.”
- Boards benefit from focused, relevant, and engaging Board self-assessments and upward feedback from the CEO and senior executives.
- Independent resources supporting this process can be key for success.