The issues of board performance are quite common and can be traced to a number of factors. These include having the proper members on the board, fostering a healthy environment and ensuring that information is accessible, and conducting regular evaluations. A well-planned approach to these areas is essential to elevating the board as well as the business.

Board members are able to draw on a variety of knowledge on specific areas, but if a few directors are ahead of others, it could hinder the discussion at meetings. Boards can tackle this issue by implementing mandatory training sessions for all directors on relevant subjects such as M&A and new geographic areas or updates to regulatory requirements. This helps to level knowledge levels and ensures that all directors are well-prepared for board meetings.

The board hasn’t set up the structures and procedures appropriate for carrying out its responsibilities regarding assessment, such as establishing an internal committee that is responsible for gathering and analyzing performance data, or regularly reporting results of assessments to the full board to be considered.

Boards should also desk board consider investing in third-party facilitated reviews that offer an external layer of expertise and objectivity that can be lacking in an internal review. Professional evaluators can help reduce the risk of political gamesmanship by staying clear of accusations and looking for a common path forward for improvement. They can also act as a neutral mediator to resolve issues involving group dynamics as well as individual egos. They can provide an organized plan for ongoing improvements, including time-bound and quantifiable plans. They can also provide direction that is based on best practices and industry information, helping the board to streamline its processes and improve the effectiveness of the board.