This is a comprehensive, easy-to-use survey that any Board can use to find governance gaps.
Board effectiveness and strong governance are driven by the following key elements that are measured in the survey:
- the Board composition, nomination and succession process
- how well the Board understands it’s responsibilities
- the formal processes the Board uses to look after its responsibilities
- the Board’s code of conduct and ethics guidelines
- the orientation and development process for new Board members
- the Director assessment process
- the characteristics of the audit committee
- responsibilities of the Board and Committee chairs
- Board information and communication
We recommend that the Board effectiveness survey be filled out by every member of the Board of Directors. In addition, our work with Boards has shown that there is a significant benefit in seeking perspective from knowledgeable outsiders. This additional point of view is important from a governance perspective and almost always highlights areas of opportunity not obvious to the Board of Directors itself.