How to Facilitate a Board Self-Assessment

image source novalauncherprime.pro/availability-with-board-meeting-software-reviews/

Board Self-Assessment plays a crucial role in the board’s duty to assess and improve its own performance. Often, boards are tasked with reviewing their own work to ensure that they align the board’s capabilities and expertise with the company’s strategy and meet the expectations of investors for diversity. In addition boards should carry out an evaluation of their work at least every two years.

However, the process of conducting a self-assessment for the board can be a difficult task. Many board members have never done it before, and getting them to commit to the process might require some effort. In addition many boards struggle to find the ideal balance between the demands of their jobs and the duties of their board.

To make it easier it is best to engage an expert on board governance who can assist with the entire process from start to finish. The consultant will develop a survey for the board, distribute it, and gather feedback on a regular basis. They will also review the data to find pertinent information and bring them back to the board for discussion.

Once the results are out the board should utilize these results to set more clear expectations for itself. This will reduce confusion about the role of a board member as well as the best way to carry out their duties. The test can help identify areas that require additional training. It may also help clarify expectations for directors in their personal life which is crucial for those who are full-time workers.