There are two integrated parts to the advisory works we undertake with Boards in order to review Board and committee effectiveness. Our work on compliance with codes, accepted best practice, procedures, etc., form one side but on the other are the role of dynamics and working relationships.
One part is to conduct board reviews in line with the relevant corporate governance codes, best practice guidelines. We have found much variation which is dependent on the nature of the PLC Board, the entity and the approach. These range from a FTSE 100/250 formalised approach to that in a smaller PLC where there can be closer, active Board attention.
For some technical detail of our approach and methods click here.
Integrating Board behavioural data with formal Board Evaluations forms the second part of our consulting work. We operate at three levels. One is in applying behaviour analysis to promote constructive and mitigate destructive Board dynamics (the latter being especially relevant if Board only meeting as a Board nine times a year, for example, beyond contact in committees).
We work on the key relationships knowing that the Chair/ CEO/ CFO relationships are especially important. Thirdly, we clarify roles and support Non-Execs in meeting the ever-developing expectations of NEDs, including providing development advice for those new to NED roles.
To find out how some of our clients have achieved the most business benefits from developing effective Boards and committees, what they did and how they did, click here.
Reach out to us today and get a complimentary business review and consultation.