Board Self-Assessment plays a crucial role in the board’s responsibility to assess and improve its performance. Boards are frequently asked to examine their own work in order for them to align their expertise and knowledge with the company’s strategy and meet investor expectations regarding diversity. Additionally boards should conduct a comprehensive evaluation at least once every two years.
However, the process of conducting a self-assessment for the board can be a daunting task. A lot of board members have never done it before, and getting them to dedicate time to the process might require some effort. Many boards struggle to strike a balance between their work and their board’s duties.
To help ease the way to make the process easier, it’s best to engage an expert on board governance who can facilitate the entire process from start to finish. The consultant will design an appropriate survey for the board, distribute it and take feedback on an ongoing basis. They will also review the data and decide on the most relevant findings, then bring them back to the board to discuss.
Once the results are in the board should make use of them to set clearer expectations for itself. This will reduce any confusion about the role of a board member and how they are expected to perform their work. The assessment can also identify areas where needing additional training. It could also help webpage about corporate communications policy importance clarify expectations for directors in their personal life which is crucial for those who work full-time.
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