In a constantly evolving regulatory environment, boards must seek to continuously improve their governance effectiveness.
Board evaluation is recommended as a key principle of good governance (ASX 2.5) and for some industries (particularly APRA regulated institutions) it’s mandated. From our experience, board evaluation shouldn’t be seen as just a compliance exercise, but rather an engaging, performance enhancing activity.
To help empower the performance of your board, Aon Hewitt has developed the Governance Evaluator based on feedback and input from directors. It’s designed to be:
- proactive – it’s a non-confrontational way to evaluate your board and delivers tangible action and development plan outcomes
- easy to use and access – the process is non-onerous, confidential and offers value for money for organisations and their boards
- accurate and robust – results are verified to ensure both qualitative and quantitative data is taken into account and we also offer industry customisation.
The benefits of a comprehensive, independent process using the Governance Evaluator include:
- supporting more effective decision making
- improving the efficiency of meetings
- developing director capability
- improving relationships with management.
Empowering the performance of your board
Aon Hewitt’s Governance Evaluator uses an online questionnaire and a facilitated consultation approach to capture both quantitative and qualitative information. The Governance Evaluator undertakes the follow activities to ensure accurate and robust data is obtained relevant to your organisation:
- online director questionnaire
- face-to-face director interviews
- board workshop
- board development plan
This approach draws out themes and issues specific to each board, provides the foundations for a customisable action and development plan and enables effective benchmarking.
Let’s start a conversation
Get in touch with us today if you would like a demonstration of the Governance Evaluator or for further information on how Aon Hewitt can help improve the performance of your board.