At board meetings, significant decisions are made that affect everyone from the company’s employees to the investors who hold its shares and potentially even the economy in general. It is essential that the board members are capable of making these important decisions with the most effective combination of expertise and knowledge. Regularly scheduled evaluations help ensure that this is the case.
A boardroom review allows a table to evaluate its performance in an extensive manner. The review allows table members to identify factors of longevity, weaknesses in their leadership relationships, and their culture that could affect both practical and social changes. It also assists in ensuring that the table members who pay for table membership are equipped to be effective in their work.
A competent, independent facilitator will ensure that the process goes boardroombook.com/ without a hitch and is confidential. This is particularly important when the evaluation is being performed by a committee or sub-committee. The process could include interviews or reviews and may be conducted in person or via videoconference. Board evaluations can also be an excellent opportunity to introduce new working methods including a focus on diversity and wellbeing of employees. They can also be an opportunity to shift the focus from operational issues to strategic issues.