Investors, regulators, the media, employees, and society, in general, expect the board to establish and maintain strong standards of corporate governance and add significant value for key stakeholders. Practical board assessments, tailored to the specific circumstances of each board, are critical to meet the increasingly stringent standards of corporate governance worldwide.
We use our Board Assessment Framework to provide an independent, professionally guided analysis of the purpose, governance, composition, dynamics, and leadership roles that characterize the board. We then benchmark our findings against best practices and identify areas for improvement to help maximize the board’s performance and ensure that the board lives up to the expectations of investors and stakeholders.
For more than 50 years, Odgers Berndtson has been working with boards around the world to improve their effectiveness by providing the following:
- A shared understanding and alignment among of viewpoints among the board members.
- A mechanism that helps board members enhance their contribution to the board and fine-tune its decision-making processes.
- A proven framework and process to identify the areas to which both the board as a whole and individual directors can contribute, together with specific recommendations to address those areas.
The Odgers Berndtson Board Effectiveness Framework integrates multiple processes under one umbrella and is used to assess and advise boards through the lens of five critical determinants of their success:
- Purpose & Mandate – A clear understanding of the board's purpose, role, goals, and agenda and how they add value to the organization.
- Structure & Processes – A clear and compelling governance model, including the board’s structure, processes, compensation model, and supporting resources.
- Composition – A diverse and relevant mix of experiences and competencies that harmonizes with the organization's specific objectives and challenges.
- Dynamics – Effective and complementary interactions between board members and individual commitment to the board's mandate.
- Chair Role – Sound orchestration of the board's agenda and building collaborative relationships with the organization's key stakeholders to meet the board's responsibilities.
