Are Board Evaluations the Most Under-Utilized Tool in Corporate Governance?
But for most, it's a sleepy process that fails to tap into the insights of some of the smartest people in the corporate world their own board members.
NEW YORK, Aug. 16, 2021 /PRNewswire/ -- Nearly every board conducts a board evaluation. But for most, it's a sleepy process that fails to tap into the insights of some of the smartest people in the corporate world – their own board members. "When a board evaluation is effectively designed, genuinely engaging and tailored to the real issues impacting the company and its board, it's the most powerful tool I've ever found to take a board from good to great and to keep a great board vibrant," says author Beverly Behan, who's conducted board and director evaluations for nearly 200 Boards of Directors across the United States and around the world over the past 25 years.
Behan's new book, Board and Director Evaluations: Innovations for 21st Century Governance Committees offers boardroom-tested ideas for redesigning evaluations to create more value and greater impact. She introduces a range of innovative concepts, all or which were developed from her own work in the boardrooms of the S&P1500, including:
- Board 2.0 – a board succession planning tool that may quickly replace the board skills matrix;
- Board composition benchmarking –an interesting twist on the use executive compensation peer groups in analyzing board make-up and governance policies; and
- New Director 360s –developed for a Fortune 100 board in 2019, this tool is designed to make the most of new director talent, a worthwhile addition to any Director Orientation Program.
What makes board and director evaluations a timely topic in 2021? "As our economy emerges from the challenges of the COVID-19 pandemic, boards need to be operating at the very top of their game," Behan answers, "Moreover, in the past year, directors have become highly conversant with Zoom and other videoconferencing platforms; these can now be used to redesign board evaluations, making them more far engaging and impactful than the processes many boards have been using up to now."
Beverly Behan is the founder and President of Board Advisor, LLC which advises boards around the world on a range of board effectiveness issues: www.boardadvisor.net. She is also the author of Great Companies Deserve Great Boards (Palgrave MacMillan, 2011), which was named Governance Book of the Year in 2012.
Contact: Beverly Behan
Email: [email protected]
Cell/Text: 646-239-9179
Website: www.boardadvisor.net
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SOURCE Board Advisor, LLC
