Some companies conduct an evaluation of their directors annually. However, the assessment produces a score card, not necessarily meaningful feedback or change. For other organizations, a misconception exists that this kind of assessment needs to occur only when the board faces a crisis, dysfunctional relationships, or a problematic director.
Henman Performance Group offers an alternative. Our director evaluations serve as a valuable, dispassionate review of the strengths and improvement opportunities from the vantage point of the directors themselves.
Specifically, this evaluation helps directors assess individual contribution in these key areas: financial acumen, experience with acquisitions, ability to assess risk, and industry knowledge.
This kind of assessment addresses the complexity of personal interactions, enhances the contributions of individual members, and aligns expectations of the entire board.
This process will help you
- Promote high professional standards for director performance.
- Leverage the strengths and mitigate the weaknesses of individual directors
- Coordinate efforts among board members, especially members of the search committee, when the CEO needs to be replaced or board seats are vacated.
- Oversee the process of directors giving developmental feedback to the CEO.