- Know the standards you have to meet
- Make an informed choice about what you want from your board evaluation
- Identify the best approach from those commonly used
- Recognise the pros and cons of internal versus independent evaluation
- Set an appropriate scope for the exercise
- Consider who should own and lead the review
- Act on the results - achieving real benefits
- Find good sources of help and guidance
Your Consultant - Judy Delaforce
Judy Delaforce is the Managing Director of BP&E Global and leads on many of the board evaluations we undertake for a wide range of organisations. She specialises in communication and development of Leadership and individual potential which she combines with an excellent insight into business and regulation.
An international Programme Leader, Judy has worked at Board and Senior Manager level primarily in the City, but also across different industries including the motor industry, high street retailers, property companies, and regulatory bodies. She is a Member of the European Corporate Governance Institute and the European Mentoring & Coaching Council.
With a City and regulatory background, Judy is trained in a variety of disciplines and is a NLP Master Practitioner. She is a regular writer for the ICAEW Management Magazine, Thomson Reuters and The Institute of Turnaround on Board issues
Board evaluations can add value to the company and make sure that the board works together as an effective team. Since the financial crisis regulators have encouraged boards to undertake more frequent evaluations of their performance and in some cases insisted that independent evaluations are undertaken.
This 2 hour workshop provides insights into the wide variety of approaches taken, what works and what often doesn't. It will bring you up to date with the requirements of the UK Corporate Governance Code and help you to consider the options available to your board to improve performance at organisational, board and individual member levels.
“Boards continually need to monitor and improve their performance. This can be achieved through board evaluation, which provides a powerful and valuable feedback mechanism for improving board effectiveness, maximising strengths and highlighting areas for further development. The evaluation process should aim to be objective and rigorous“
FRC guidance on Board Effectiveness
1. Why are evaluations useful?
- Background to the focus on board reviewS
- Why undertake an evaluation?
- Pros and cons of internal versus external evaluations
- The potential benefits from reviews
2. Leading the exercise
- The role of the chairman and senior independent director
- Who should undertake the assessment
- Including Committees?
- The importance of independence, skills and track record of the evaluator
3. Conducting the evaluation
- Documents for review
- The process - questionnaires, interviews and group discussion
- Reporting findings and board discussions
- How best to capture the key findings
- Integrating with other key events and the board calendar
4. Using the results
- Implementing the result and follow up actions for the board
- Communication in the annual report
- Communication with shareholders and regulators