In board meetings, important decisions are taken that affect everyone from the employees of the company to the investors who own the shares, and possibly the economy as a whole. This is why it’s important that the panel is capable of making these crucial decisions with the most effective combination of expertise and knowledge. Regularly scheduled assessments help to make sure that this is the situation.
A boardroom review is a procedure which allows a table assess its performance in a thorough way. The review allows table members to pinpoint certain aspects of longevity, as well as weaknesses in their leadership relationships and culture which could influence both social and practical changes. It also ensures that those who pay for table membership have the right tools to complete their job efficiently.
A skilled, independent facilitator will ensure that the evaluation process runs smoothly and without any ambiguity. This is especially important if the evaluation is conducted by a committee or sub-committee. The process could include interviews or reviews and may be conducted in person or by videoconference. Board reviews can also be an occasion to introduce an innovative method of working, for example, the importance of diversity and wellbeing of employees. They can also be a chance to shift the focus from operational issues to strategic issues.
