When board meetings are held, important decisions are made that could affect everyone, from employees of the company, to the shareholders who own the shares, and even the economy. It’s therefore important that the board has the most effective combination of skills and experience to make these critical decisions. Regular evaluations can help to ensure this.
A boardroom audit allows the table to assess its performance in a thorough manner. The evaluation allows the table members to pinpoint the aspects of longevity, weak points in their leadership relationships, and culture which could influence the social and practical aspects of. It also helps ensure that the table members who pay for table memberships are able to be effective in their work.
A competent independent facilitator can guarantee that the process is conducted safely and securely. This is particularly crucial if an evaluation is being performed by a committee or subcommittee. The process could include interviews or boardroombook.com/guide-to-board-succession-planning/ reviews and may be conducted in person or via video conference. Board evaluations may also provide an opportunity to introduce a brand new approach to work, like the importance of diversity and employee wellbeing. It could also be a chance to shift the focus away from operational issues to strategic issues.