MyAdvisor™ - Board of Directors
Any organization looking to pursue best practices in all aspects of management must periodically assess the performance of its Board of Directors. However analyzing the quality and performance both individual directors and the board as a whole — from researching and creating criteria, to collecting data, to compiling and presenting the results — is a complex, time-consuming exercise. Not only must an evaluation process be independent and transparent when examining a Board’s stewardship, impact and strategic vision, it should also clearly identify both strengths and areas for improvement. A tall order, but increasingly important so both private and not-for-profit organizations can demonstrate good governance and due diligence.
You Need MyAdvisor – Board of Directors if…
- Your organization requires an objective and thoroughly professional way to assess Board performance
- Key stakeholders hold multiple and dissenting views of a director or Board’s performance
- Management needs a more orderly, thorough and consistent method of comparing and selecting directors
- Important Board positions or directorships have been filled before the appointee’s strategic value has been adequately assessed
- The Board needs to better align with the strategic and leadership needs of the organization
- There is a need for comparable and meaningful performance metrics, presented with clear, easy-to-understand conclusions
- It is in your organization’s best interest to assess performance internally rather than hire outside consultants
My Advisor-Board of Directors gives you immediate access to a powerful tool for assessing your Board of Directors at a low price. You get forms, a user guide, and reports, and you can use all of these valuable tools right away. Evaluation has never been this easy!
To create an independent, actionable process for assessing your Board’s stewardship you need metrics that are meaningful, repeatable and aligned with strategic goals. Criteria must be flexible enough to evaluate the Board as a whole, while also providing due consideration to the characteristics, roles and activities of individual directors.
My Advisor - Board of Directors uses categories that represent common, key considerations for assessing the attributes and impact of directors. Using a standard form, the evaluator can rate Board members against a set of statements that best describe high-performing directors.
Working through the criteria sets, the tool evaluates the experience, knowledge, and commitment of directors; their understanding of the organization’s strategy and policy, planning, and personnel; and the Board’s leadership and impact. The tool identifies and assesses:
- Board members who possess previous executive responsibilities in current and future business areas;
- Board members who have contributed and shared knowledge and information from their own experiences;
- Board members who demonstrate active and ongoing participation in the affairs of organization, and have developed a high level of commitment to its vision and aspirations;
- Board members who have actively participated in strategy and policy discussions until they coalesce into a coherent corporate strategy;
- The degree to which the Board has approved, and modified as appropriate, an annual set of Business Plans;
- The degree to which the Board regularly undertakes an assessment of the performance of the organization in meeting its mandate and mission;
- The Board’s relationship with personnel by establishing — through a Compensation Committee and with the CEO — policies for the recruitment, compensation and evaluation of all members of Senior Management;
- Whether the Board’s impact on internal operations has resulted in constructive input into the vision, mission and plans of the organization, and this input has been incorporated into the appropriate documents;
- The Board’s influence on the development and implementation of the strategic plan has resulted in monitoring and tracking benchmarks to ensure sustainable corporate success;
- Whether the Board has provided constructive input into the discussion of threats and opportunities facing the organization;
- How well the Board has played an important and active role in advancing the interests of the sector in which the organization is involved.
MyAdvisor - Board of Directors can be used for:
- Evaluating the Board’s performance
- Measuring the Board’s contribution to strategy and leadership
- Assessing a director’s unique contributions
- Comparing directors, competently and confidently
- Benchmarking a Board against others in the sector
|MyAdvisor - Board of Directors||AdvisorSL|
|# of Projects Evaluated||8||25|
|# of Evaluators per Project||1||6|
|Access to Free Criteria Set Library||No||Yes|
|Create and Use Your Own Criteria||No||Yes|
- Free Evaluation Form for Evaluating a Board of Directors (pdf)
- Sample Board of Directors Evaluation Report (pdf)
System Requirements: PC with Windows 2000 Operating system or later; 60MB of free disk space; minimum of 256MB RAM; Microsoft Excel; Administrator rights for installation.