BoardBench Board Evaluation Services
Our in-depth and customizable evaluation tools work to improve board performance and value. BoardBench™ Board Evaluation Tools give your board the means to effectively measure and evaluate its performance against best prevailing practices and company objectives. Built on a customizable foundation by experienced governance, audit, fraud and risk management professionals, our Board Evaluation Tools will enable your board to monitor and improve its performance. Boards utilize these tools to identify competency and skill gaps, group dysfunctions, and potential vulnerabilities that may later become genuine risks.
What is a Board Evaluation?
A board evaluation (or assessment), is a process by which a Board of Directors determines how well they have executed their responsibilities and gauges their ability to ensure the long-term success of the company they serve. NYSE listed companies, and those subject to Sarbanes-Oxley, are required to annually self-examine certain board committees. Such evaluations can be conducted using several formats: from informal dialogues, as part of a board meeting, about past performance; to completing surveys and discussing the results; to a more integrated process, guided by independent advisors, that identifies specific issues and concerns, confirms positive practices, and defines a path to beneficial change.
Why Consider BoardBench Board Evaluation Tools?
Many companies today rely on standard assessment questionnaires supplied by associations or gleaned from other companies. BoardBench tools differ in that they are:
Customized: BoardBench Board Evaluation Tools are founded on the best prevailing practices of effective boards. Each assessment tool we offer is specifically tailored to the operations, strategy, and needs of the individual client company and its board. In addition, as the world of governance and the roles of boards evolve, we continually research, monitor, update, and incorporate current and forthcoming issues of concern to boards within our tools.
Focus on Value:
Our approach differs from many in that, while we help you obtain
the more easily captured quantitative data (the“what is”), we primarily
focus on drawing out the more elusive and useful qualitative information
(“what should be”). Our questioning process works to engage and draw out
the most value-added, constructive responses from participants. Our
process goes well beyond the surface.
Relevant: BoardBench tools address those criteria considered to be most critical
to maintaining effective boards including its overall composition,
culture, perceived vs. actual focus, strategic role, and communication
with management and stakeholders. We also address the effectiveness of each board committee in
meeting its charter and strategic objectives, and how it integrates with
the board. These tools also provide specific, confidential assessments of
the skills, attitudes, styles, and commitment of each director.
Scalable: Our
Board Evaluation Tools are scalable to your specific needs and issues and can include:
- Customizable survey documents for your Board’s sole use
- Detailed analyses, summaries, and recommendations for further board discussion
- Expanded and confidential one-on-one board member interviews
- Facilitated and guided group discussion
- Follow-through execution monitoring and timeline reporting
A specific tool package of one, some, or all of the above can be designed to meet your board’s needs at any time.
Confidential and Secure: To promote candid participant inter-change, without fear of reprisal, legal challenge, or exposure, we’ve designed our processes to ensure that all evaluation documents are confidential, and strictly protected. We maintain complete accountability by having our principals directly handle and control all related evaluation materials throughout the entire project
The BoardBench Benefit:
BoardBenchBoard Evaluation Tools give your organization a competitive advantage by providing your Board of Directors with an affordable, secure, independent, confidential, and in-depth set of tools for identifying strengths, vulnerabilities, and threats. Using BoardBench as your objective evaluation advisor reduces the likelihood of internal bias and inaccuracy that often occurs in self-managed evaluation processes. BoardBench Board Evaluation Tools go to the root in identifying hidden challenges and opportunities and give you the information needed to improve board performance and increase its value to the company and stakeholders.
BoardBench
Evaluation Tools
Independent, customizable evaluation tools to assess the performance of your Board's:
Overall effectiveness and efficiency
Committee performance against goals and mission
Directors competency and commitment
BoardBench Benefits:
Use of an experienced independent evaluation team reduces bias and improves accuracy of response
BoardBench Board Evaluation Tools go beyond a “check the box” format and give your board the ability to identify strengths, competency gaps, hidden challenges and unforeseen risks.
Our tools have been developed with experts in corporate governance, audit, fraud, risk management, and action planning.
Each tool is customized and targeted specifically to your board's needs
