TheCorporateCounsel.net

“You get out of it what you put into it,” is how my high school track coach always responded when we begged for an “easy” practice. As much as I disliked that response back then, over the years I’ve found that it’s a workable mantra for just about any scenario: including board evaluations.

We all know that there’s a wide divergence across the 99% of companies who conduct some form of evaluation. The Spencer Stuart 2024 Board Index offers a couple of pointers that can help turn board assessments into a meaningful tool for continuous improvement. Here’s an excerpt:

– Run frequent & robust board assessments: Boards should conduct meaningful evaluations via an independent third party every two or three years. In addition, the annual evaluation should include getting feedback from the management team to ensure a 360-degree review process for assessing the board’s contributions, effectiveness and areas for improvement.

– Implement individual director evaluations: Peer evaluations, carried out by an independent third party, should be conducted every two or three years.

I also love this infographic from Denise Kuprionis at The Governance Solutions Group, which shows that a few basic steps can help boards get more out of the evaluation process:

We have additional resources – and a list of facilitators that includes Denise and others – available in our “Board & Director Evaluations” Practice Area.

– Liz Dunshee