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In board meetings, crucial decisions are made that affect everyone from the employees of the company to the investors who hold the shares, and possibly the economy as a whole. Therefore, it’s vital that the board is competent to make these critical decisions with the best combination of expertise and knowledge. Regularly evaluated assessments can help make sure this happens.
A boardroom review enables the table to assess its performance in a broad manner. The review allows table members to determine aspects of longevity, weaknesses in their leadership connections and the culture that can affect the social and practical aspects of. It also ensures that those who pay for table memberships have the tools needed to perform their job efficiently.
Having a skilled independent facilitator can guarantee that the process is conducted effectively and in a confidential manner. This is particularly important when the evaluation is being carried out by a committee, or sub-committee. The process could include interviews or reviews and may be conducted in person or via video conference. Board evaluations can also be an opportunity to introduce a new method of operation, such as the importance of diversity and employee wellbeing. Or, it can be an opportunity to shift the focus from strategic to operational issues.