Objectives of the Board Evaluation Process
The Board Evaluation is the primary process Board’s have for measuring Board performance and governance effectiveness. Typically, Board evaluations are conducted annually. This regular monitoring helps the Board stay current with opportunities to maintain and improve its governance effectiveness. It also helps the Board measure progress against planned improvements from previous Board evaluations.
Participants in the Board evaluation process typically include all Directors and the CEO. Director feedback is key because strong Board governance relies on Director understanding and engagement. CEO feedback is critical because the Board-CEO relationship is integral to organization success.
Here are the key goals of the Board evaluation process:
- Objectively measure Director and CEO understanding of the Board’s role, its governance oversight responsibilities and Board operations
- Align the Board with its role and identify opportunities for improving Board operations
- Develop and oversee a plan for maintaining, increasing Board effectiveness
- Build a stronger more productive relationship between the Board and the CEO
- Fulfill a primary Board governance duty to ensure that organization is well lead