Board development has never been more important. Following the governance reports of Turnbull, Nolan, Cadbury, Greenbury and Hampel, boardroom
standards are under the microscope. The quality and integrity of a company’s
board has become an even more significant factor for institutional investors. In
many sectors, rising stakeholder expectations are increasingly extending to the
boardroom. ef can help your board take systematic steps
to guard its values and improve its effectiveness through development.
Approaches to appraising and developing the board
The book, “Approaches to appraisal: a handbook for the effective board” explains that the Board must lead by example, learn current best
practices and demonstrate its commitment to excellence.
Confident and competent boards conduct regular reviews of their performance against goals,
responsibilities and key skills.
We have introduced appraisal to many boards. Some have opted for a one-to-one or 360 degree approach of individual members but most have adopted a team-based approach. The choice will depend upon your board.
Critical event: A particularly challenging or important event is on the horizon or the person has reached an impasse.Development of the board as a whole typically involves helping the group on the eight main factors of boardroom excellence, following an interview and questionnaire-based audit. This might involve, for example, strengthening committees, refining terms of reference or reframing agendas. In some instances, board competencies and board member competencies can be used to improve the performance of the board as a whole.
Personal learning: The client learns tactics to handle personal issues such as managing stress or increasing confidence.
Professional learning: Here the client may wish to learn new skills in a confidential or condensed way.
Other ef business consultancy services