![]() Government departments and major customers provide additional sources of feedback. Owners and vendors may also provide external sources of valuable feedback. Managers and employees are often a valuable source of internal feedback. With the Diligent Evaluations tool, it's easy to get both internal and external feedback. Step five: Who will the board ask to provide feedback?īoards that only solicit feedback from the whole board and CEO evaluations will overlook valuable feedback from other places. This is another valuable reason to consider using Diligent Evaluations, which takes up fewer resources, can be completed in less time and yields more meaningful results. This process should yield a list of areas for the board to investigate, and they'll need to balance the objectives with the scope of the evaluation and the resources that are available for the project. This step requires boards to consider objectives in light of best practices for governance. Classifying issues also helps to test the practicality of specific governance solutions. By classifying the board's objectives into themes, the results will clarify problems and, hopefully, identify possible causes. Many of the issues the board wishes to tackle will fall into similar categories. Step four: What does the board need to be evaluated on? Diligent Evaluations eliminates barriers associated with time and costs, so boards have adequate time to conduct evaluations that bring meaningful results. When choosing to do individual director evaluations, the administrator can correlate the results with the whole board to determine the most appropriate action. The results will also help boards identify gaps in communication between board directors or between board directors and managers. Peer evaluations will highlight the strengths and weaknesses of individuals. Diligent Evaluations makes them easy to do anonymously, which will yield more candid feedback. Peer evaluations are the best way to get a holistic view of the board's performance. It can be managed in short order with just one administrator.īoards that choose to only do individual board evaluations may limit their insight into problems related to governance and performance. If you use Diligent Evaluations software, you won't need a team of people to complete the process. In making these decisions, consider the size of the company, the stage of the business and the impact of the competitors. Be clear about the reason for doing the evaluation, whether it's because it's mandated, to solve a problem or to send a clear message to investors that the board is committed to good governance. Clarify your objectives so you can set goals for the evaluation and make decisions about the scope of the process. Evaluation administrators will appreciate how easy it is to create charts, graphs and reports and gain immediate insight, with custom visual reports that are ready for presentation and sharing shortly after all evaluations are completed so the board can effect immediate change.Įstablish what your board hopes to achieve through the evaluation. Board directors can also sign the evaluation electronically. The system can also be set up to allow for anonymous answers to net more candid feedback. They can access the evaluation using any device and even come back to it at a later day or time to complete it, if necessary. Board directors will appreciate the time that electronic evaluations save them. The program notifies them of completed questionnaires and close dates. ![]() The evaluation administrator can set up a questionnaire with various question types and distribute it completely online. When your board opts to use digital board assessment technology, it streamlines the process for evaluation administrators, board directors and anyone else who offers feedback. Step one: Use board assessment technology Digitization takes the pain out of manual processes for board evaluations. If you're unsure where to start, this step-by-step guide will lead you through eight important steps to an effective board evaluation process. Having a good process for doing board assessments demonstrates that boards have the proper knowledge, skills and ability to provide strong oversight. One of the worst things that boards can do is to view the annual board evaluation process as a rote exercise where they tick all the right boxes that will make investors happy.īoards should consider the time, effort and resources they spend on board assessments an opportunity to add value to the company.
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