Board Self-Assessment is a critical element of the board’s responsibility to evaluate and improve its own performance. Boards are frequently asked to review their own work, to enable them to align their expertise and knowledge with the company’s strategy and to meet investor expectations for diversity. Additionally, boards should ideally conduct an exhaustive evaluation at least once every two years.

The process of conducting a self-assessment by the board can be daunting. It may be difficult to get board members to dedicate time to this process since many have never done it before. Many boards struggle to find the balance between their duties and their board’s duties.

To ease the process to make the process easier, it’s best to engage an expert in board governance who can facilitate the entire process from start to finish. The consultant will devise an appropriate survey for the board, distribute it and gather feedback on a regular basis. They will also review the data to identify relevant information and then bring them back to the board for discussion.

Once the results are in, the board should use them to set clearer expectations for itself. This will help reduce any confusion regarding the role of the board member and how they are expected to perform their work. The assessment can help identify areas that require further training. Additionally, it can aid in setting clearer boundaries regarding the expectations that directors must maintain in their personal lives, which could be particularly important for those who work full-time.

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