Customized Approach & Reporting
A tailored approach to suit the specialized needs of each Board of Directors
What the BEAM™ delivers
The Board Effectiveness Assessment Methodology (“BEAM™”) delivers deep and new insights into what makes boards and individual directors really effective. The BEAM™ is a highly developed and very successful, practical approach to completing board effectiveness assessments that lead to a clear path for improvement.
Avoiding “check the box” governance assessments
Skepticism arises from generic, superficial questions that directors do not believe address key issues. The results and usefulness of an assessment flow from questions being asked and, in turn, the manner in which reporting, constructive feedback and follow-up action occurs.
How the BEAM™ is unique
It is difficult to assess “board effectiveness” from the outside. Board chairs and board members are looking for sensible and reputable approaches that deliver usable results signposting implementable improvements. The BEAM™ is based on a continuously updated, evidence-based, director-endorsed approach to reviewing and improving individual company boards. This consultation leads to rich reporting on success and opportunities that are tangible and achievable.
Preparing for the assessment
The approach must be consultative and collegial at all times… There should be collective buy-in, unity of purpose and support for the majority view, before, during and after the assessment.
What the process involves
The BEAM™ process involves consultation between the board and Boardexpert.com on how the board’s assessment needs can be carried out in a manner in which directors are most comfortable. The process can be initiated through a consultation between the appropriate representative of the board and Boardexpert.com on the board’s particular needs, whether it be a more comprehensive consultative engagement or a more streamlined approach.
Confidentiality of assessments
Assurance of anonymity of responses to promote candor is problematic if management or a director sees the raw data. The sources or identity of individual responses should be preserved, and seen to be. External facilitators help to ensure confidentiality and candor.
Timing and Delivery
The board assessment may be done in phases and in a manner that accommodates the circumstances and timing of individual boards and director preferences. At its most complete, the BEAM™ delivers a very well informed and comprehensive report about the overall performance of the board, together with feasible recommendations for improvement and opportunities for growth. Deliverables may include reports to the board, individual committees and individual directors, accompanied by salient BEAM™ data. As part of the deliverables, and if requested, we will provide a one-two page summary of the board’s performance that the board can use for shareholders or for other public domain purposes.