Progressive Approach
Progressive approach to the 3 year cycle
For many organisations a Board Evaluation will be either a totally new exercise or a partly new process in some aspects.
At Genius Methods we understand and respect the natural reluctance to having outsiders inside the sanctuary of the Board and therefore have developed an number of ways that a Board can engage in the transition from their current position to fully benefiting from a board evaluation.
Remember that “external” does not imply interviews, it states that an external facilitator is required. We provide a fully tailored questionnaire to your exact needs, that distills the answers desired through a questionnaire with detailed confidential feedback structured to feel like and interview but without the human interface. This solution provides a very valuable alternative to physical interviews as it still reaches to the heart of the issues and the robust platform and reporting allows for a deep level of analysis.
Interviews still add the “colour” and “insight” that is very valuable to achieve in some years, but will only add value when the company is ready to address this process.
The first important decision is to choose the right external evaluator for your business. At Genius Methods we offer a number of ways to engage and have a portfolio of associate interviewers from many industries, many of whom are Chartered Directors.
The next decision is to determine the way to approach the change. The decision taken will depend on the culture of the organisation and the degree to which evaluations have been performed to date.
Progress to full compliance
1. Option 1 (Preferable)
Start year 1 with the external evaluation and gain the full benefit in the years that follow. This will require a big cultural leap for some organisations and will be logical for those that have had some form of Board Evaluation performed to date.
2. Option 2 – Progress to governance maturity
In year 1 – Internally managed using own questionnaire but using an external framework to add value to the reporting and to provide unattributed responses. This process is usually more cost effective than handling the exercise totally internally.
In year 2 – As in year 1 and still internally managed, using the external framework but complementing the internal questionnaire to include Code & governance requirements and made fit for purpose for the industry and the company. The process is extended to include the Board Committees and responses from other key people – for example the Company Secretary.
In year 3 – As in year 2 but now complement the questionnaire with the external interviews of the Board members, Committee members and other relevant staff. This process is scoped with the Champion to ensure that the value is optimised. The company can choose to have one or two interviewers conducting the process. Genius Methods combines the responses into qualititative and quantitative reports which are drafted, presented, finalised and compiled for the Board. In addition the actions can by monitored and the Annual Report statement reviewed.
Option 3 – Due Diligence
- Are you not sure which way to turn and would like some guidance?
- Do not know what option is best because you do not know the governance position currently?
- Do you want to have a sneak preview of the process and get a health check view of your Board governance position?
- Are you a prospective or current NED who would like to have a view on the governance situation?
- Are you a prospective or current Chairman who would like to have a view on compliance to the Code?
If the answer to any of the above is yes, we have a Due Diligence governance questionnaire that can give you a quick view of the current position of your governance and conformance to the code and possible areas that need to be addressed.
Review the section on Due Diligence for more information on the types of assessments possible.
Further information
Please view additional pages on Board Evaluation either via the drop down menus above on the Board Evaluation tab or click on links below:
Who should carry out a Board Evaluation?
Do do or not to do a Board Evaluation?
Evaluate your approach to a Board Evaluation
Progressive Approach to evolving Board Governance
Find out more…
Make your own assessment of our Board Evaluation
services by sampling our trial sample extract of a questionnaire.
Email us on boardevaluations@geniusmethods.com requesting access to the trial copy
or simply get in touch for an unbiased, honest view of the available, suitable options.
Quis custodiet ipsos custodes?*
(From ‘The Satires of Juvenal’)
‘Who will guard the guards themselves?’; also sometimes translated as ‘Who watches the watchmen?’
A succinct encapsulation of the true spirit of corporate governance.