Board Policies Performance Evaluation – Board, Committees and Directors
Boards that commit to a regular evaluation process find benefits in terms of improved leadership, greater clarity of roles and responsibilities, improved teamwork, greater accountability, better decision making, improved communication and more efficient operations at the organisational, Board and Director levels.
Regular evaluation of the Board also results in Directors developing a shared understanding of their governance role and responsibilities. This will lead to shared performance expectations and the development of standards against which the Board will benchmark its performance. The performance evaluation will also take into consideration the time expected for Directors to perform their duties as a Non-executive Director of the Board.
The Board Nomination Committee oversees the Board performance evaluation program which extends over a two year period. The process is designed to identify opportunities for performance improvement.
In alternate years, the evaluation process looks at the performance of the whole Board and its Committees. The succeeding year, individual Director performance is evaluated. Each year the Board also reviews the progress of findings of the previous year’s evaluation.
The evaluation is generally undertaken through the use of questionnaires on a broad range of issues. Every third year an independent expert is retained to conduct the evaluation through face to face interviews.