How to Facilitate a Board Self-Assessment
Board Self-Assessment is a critical part of the board’s responsibility for assessing and improving its own performance. Boards are often asked to examine their own activities, allowing them to align their abilities and knowledge with the company’s goals and to meet investor expectations for diversity. Boards should also conduct an extensive review at least every two years.
The process of conducting a self-assessment with the board can be daunting. It isn’t easy to get board members to devote time to this process because many haven’t done it before. Moreover many boards struggle to find the ideal balance between the demands of their jobs and their duties as board members.
To make it easier it is recommended to hire an expert in board governance who will guide the process from start to finish. The consultant will design surveys, distribute them and keep track of feedback throughout the process. They will also examine the data and identify the most relevant findings and then present them to the board for discussion.
When the results are in the board can use these results to set more clear expectations for itself. This will lessen confusion over a board member’s role and how to perform their duties. The assessment can help identify areas that require further training. It can also help establish clearer boundaries for the expectations directors need to keep in their personal lives. This could be crucial when working full-time.