FIDELIO’S APPROACH TO EVALUATION
Boards face significant scrutiny and disruption. Fidelio approaches Evaluation as a powerful and practical tool for the Chairman to increase Board effectiveness. Our approach draws upon the insights of the Board, shareholder and stakeholder expectations, brings external perspective and benchmarking of best practice.
Our approach includes:
- Design of a bespoke questionnaire focused on governance, effectiveness and Board-specific challenges
- In-depth interviews
- Observing a Board meeting, and review of Board papers
- A Board Report including analysis of the findings, “a heat map” of areas of future focus and recommendations to increase Board effectiveness.
- Presentation of key findings at a Board meeting, with practical recommendations
- Following up to review progress
Fidelio’s Board Evaluations and Reviews go beyond box-ticking, to support Chairmen in exploring Board-specific challenges and opportunities. This includes Board composition, succession, and benchmarking of best practice.
In order to ensure the Board is ‘fit for the future’, Fidelio supports Chairmen and Boards with:
- Peer benchmarking – a detailed analysis of how peer Boards are structured and dealing with governance challenges
- Board Reviews – informal annual Board reviews to explore the Board’s response to specific challenges between formal Evaluations
- Board composition – creating a skills matrix, highlighting the ‘white spaces’ to identify the skills and experience the Board will need in the medium term
Fidelio’s approach shifts Board Evaluation from a box-ticking exercise to a powerful tool for the Chairman