The Roles Board Members Play Today.
"Ann has a knowledge of behavioral science, an understanding of the role of a CEO, and is a great predictor of people and organizational dynamics. She has a very high batting average."
CEO, International Department Store
The role of the board of directors has taken on a greater significance in recent years, as boards must now contend with increased scrutiny from regulators, TV analysts and social media tastemakers. That is why it is important to put the right mix of talent in the boardroom and to provide the kind of developmental support needed to navigate the increasingly complex business landscape.
BEATTY can assist in strengthening your board by improving team dynamics and building mutual trust through candid communication.
Our efforts deliver far-reaching benefits for your company as well as your board members.
Board of Directors Evaluation
The most important role for any board of directors is to ensure the long-term success of an organization by maximizing share holder value. Our board evaluation process is based upon a combination of surveys, interviews, and self-assessment identifying the strengths and improvement opportunities of each board member, as well as knowledge gaps within the board overall. Typical areas of focus are: Information Flow, Board Priorities, Meeting Effectiveness and Board Leadership. We also look at the overall compatibility, complementary skill sets and ability of the board to work as a cohesive unit.
Representative Corporate Governance Services:
- Board Assessment
- Chairman Evaluation
- Peer Review
- Team Development/Effectiveness
At BEATTY, our CEO performance evaluations are thorough and rigorous. CEOs who are eager to realize their full potential find them constructive and energizing. That is why so many of our clients tell us they look forward to evaluations with BEATTY year after year.
Our CEO performance evaluation process is both quantitative and qualitative, based on criteria determined in collaboration with the board and the CEO. Board members and direct reports evaluate the CEO in regard to leadership, managerial performance and business results. After survey administration, BEATTY interviews board members for further clarification. All responses and comments are held in complete confidence. The CEO also performs a self-evaluation.
Once the responses have been compiled and analyzed, BEATTY creates an overall report that identifies themes and summarizes results. We meet individually with the CEO to review all feedback. We also discuss steps the CEO might take to leverage strengths, address opportunities for improvement and to enhance overall performance.
After presenting our findings to the appropriate board committee, BEATTY presents to the board chairman, and if desired, the full board. In this meeting, BEATTY facilitates discussion and responds to any questions. The CEO also presents his/her view of the evaluation and offers a plan of action.
CEO Succession Planning
- Scoping of Business: Current and Desired State
- Development of Position Specification and Behavioral Competencies
- Behavioral Interview Guide Development and Board Training
- Leadership Assessment of Potential Candidate(s)
- Candidate Essay Development
- Collection and Aggregation of All Data
- Presentation to Board
- On-Boarding/Acclimation Coaching of Successful Candidate
CEO succession planning is the responsibility of the entire board and its progress must be part of a board’s annual review and that of its CEO. The transition from one CEO to another is a pivotal moment for any company. CEO departures can be planned or unanticipated. In either case, a succession strategy is needed to provide for a seamless transition, one that maintains the integrity and confidence of the investors, employees and customers.
When critical decisions need to be made selecting the top CEO succession candidate, BEATTY can help you design and execute a best-in-class CEO transition. Companies have come to rely upon us as their invaluable partner in optimizing the odds for making the best decision.
Our multi - method approach to assessing top level talent is both comprehensive and predictive of success.