Improving the effectiveness of the board is a priority for leading organizations everywhere. We have developed a proprietary tool to assess the effectiveness of boards which combines survey as well as one-on-one interview results – all conducted in a non-attributive and confidential manner – to produce a fact-base of improvement opportunities.
The BEI combines quantitative information, international best practices, and board member opinions to create a comprehensive picture of board performance. In addition, the BEI serves as a platform to engage board members in the creation of a board improvement plan, in order to ensure board members have the resources they need to more easily and effectively fulfill their roles. The BEI is conducted over a 3-stage process:
Stage 1: Anonymous, online survey completed by all board members and the board secretary
Stage 2: One-on-one, in-depth interviews with each board member and senior executive
Stage 3: Presentation of findings to the board and development of a Board improvement plan
The BEI uses GCC BDI’s tailored framework for board effectiveness. This framework is comprised of 6 dimensions, each representing a critical component that define an effective board:
1) Board composition and directors’ capabilities
2) Directors duties & responsibilities
3) Board structure, processes & protocols
4) Delivering on roles of the Board
5) Effective Board dynamics and Board review & renewal.
6) Board performance and renewal
During one to one interviews, the GCC BDI evaluators assess the board’s effectiveness using this 6-dimensional framework.
The results of the survey and interviews are then benchmarked against GCC BDI’s regional board effectiveness index – a database of all the results from board reviews conducted to date with GCC companies. This benchmark allows your board to compare and contrast its effectiveness with other GCC companies, as well as best international practices.
Both the survey and interview results are analyzed and combined in a final report for the Chairman and then presented to the Board. The final report also comprises recommendations for an action plan to help enhance the board and board members capabilities.
GCC BDI draws on the expertise and knowledge of its partners (McKinsey & Co., PwC, Heidrick & Struggles, and Allen & Overy), amongst others, to assemble the best team of evaluators for each company. The final choice of evaluators often depends on the particular industry and sector expertise required.