It’s often easier for someone to see the ‘obvious’ when looking from an external point of view. That’s why the common practice for a board review is to conduct a two or three yearly independent externally facilitated board assessment. This works in hand by subsequent annual internal reviews that focus on the extent of improvements achieved in relation to the key findings by the independently facilitated external review.
The external review will normally involve the following steps conducted by a Board Advisory Partner or similarly qualified professional:
Whether it be paper, Excel or a templated survey service our experience shows that most boards conduct some form of internal review between their two to three yearly external review. However, using these methods – candid and objective responses are hard to find.
Thankfully there is no need to conduct another cumbersome and less meaningful internal review. Board Surveys has created a survey that is self-managed, affordable, validated and world-class. It not only delivers deeper insights, but benchmarks your board against boards of similar organisations in a streamlined process that you are in control of.
For organisations that want an in-depth understanding of their board current state, its desired future state and the gaps, we recommend using the Advanced Board Effectiveness Survey as an essential component for your two or three-yearly deep-dive and use the Essentials Board Effectiveness Survey yearly in between.
This will not only satisfy most regulatory requirements but also provide valuable insights and identify key improvement opportunities on a regular basis. For many organisations, larger issues arise when things are left stagnant for long periods. Visibility thanks to the key insights provided by these reviews are the most affordable, and efficient way to understand more about your board, company and overall operations. Consider the above information and how it may relate to your organisation, and choose the right board survey setup for your needs today.