Board Self-Assessment provides a platform to analyze and discuss governance strengths and weakness. It’s a way for the board to step back and evaluate its own effectiveness, which results in effective governance improvements.
Making a board assessment effective process requires planning time, as well as involvement of the board members. The first step is to determine the scope of the evaluation. It could encompass the entire board, committees or individual directors. A well-designed plan will sites novalauncherprime.pro/corporate-communications-policy-importance/ define the evaluation method. Common methods include surveys interviews or discussion groups that are facilitated. Once the extent of the evaluation and the method used have been decided the next step is to create and distribute questionnaires.
Some boards opt to conduct the assessment on their own while others hire a third party consultant. A third-party consultant can help provide a thorough and fair analysis, which is particularly crucial when your board does not have the time or resources to conduct the evaluation on their own.
While it is vital for board members to review themselves, it is equally important for nonprofit boards to be focused on the board as the whole. It is easy for nonprofit boards and their evaluation facilitators to get caught up in evaluating individuals’ responses and not pay attention to the board as a whole.
A successful self-assessment can help boards clarify their expectations for each other, uncover deficiencies in board composition, align board expertise with the organization’s strategy and address investor concerns regarding diversity and turnover, and boost the effectiveness of board procedures and practices. In their proxy statements, public companies report the results of their boards’ evaluations.