If you are searching for a web-based tool that will help you improve the operation of your board of directors, and, in doing so, enhance the performance and governance of your organization as a whole, then BoardEvals, a web-based board evaluation solutions, may be what you are looking for. They provide you with a web-based solution that can enable more effective and efficient board evaluation processes.
They provides a standardized board evaluation process and database of questionnaires that cover the entire gamut of board assessments, including whole board self evaluations, committee self evaluations, individual board director evaluations, and even individual board meeting evaluations. The entire board assessment procedure is automated, and spans from the collection of initial data all the way through back-end data analysis and reporting. The process utilizes current industry best practices as defined by corporate governance authorities. The board self evaluation process that BoardEvals follows is outlined below:
1. Their team works closely with your organization to create your account. A key component of this process is defining the participants and parameters involved in your specific board evaluation. The board evaluation parameters include committee and board member information, evaluation timetables and milestones, relevant industry benchmarks, etc. After defining these parameters, they follow a secure, automated web- based process to register them into the account.
2. The second step is designing the board assessment questionnaires. These questionnaires will be used for your entire board assessment, which includes the whole board self evaluation, committee self assessment, and 360 degree director evaluation questions. A standardized set of andldquo;best practicesandrdquo; questions are included, but you can make modifications to these to meet the specific needs of your organization.
3. Their next step is to collect responses for each of your questionnaires. Each of your directors will receive e-mail notifications informing them that they need to fill the questionnaires that are related to them. Each director logs onto their BoardEvals account and then checks which board evaluation questionnaires require their attention. After accessing a questionnaire, the director can just point-and-click on the answers. Their system tracks the progress of the directors in order to ensure that the board evaluation process stays on track.
4. BoardEvals performs real-time analysis on the results that they get from the board assessment questionnaires filled by the directors. Each individual directorandrsquo;s responses are analyzed to develop a mean score for each question, while still retaining detailed, director level data.
5. Once all of the questionnaires have been completed, the board self evaluation results are displayed in both on-screen and PDF reports. In addition, BoardEvals enables you to easily define customized report access levels. Your organization can view the responses from each individual director as well as mean score for each question. On a case by case basis, you can define whether individual report viewers can actually see the actual director names, or if they are left anonymous.
6. BoardEvals reports your board evaluation results along two dimensions:
The first one is against other companies in your industry, and the second one is against your own historical results. These benchmarks allow you to track progress across time and across your industry, providing an important foundation for a continuous improvement program.