The board of directors yields considerable power over the decisions and vision of an organization, and with that power comes the need for accountability. Boards must enact a strategic plan to review board performance and ensure executive leaders serve the establishment in an effective and ethical manner.
Board directors can streamline the evaluation process by employing board evaluation tools. These tools ensure your board members fulfill their organizational roles at the highest level.
Read on to learn about five effective board evaluation tool features and discover how board management software helps board directors conduct board evaluations effortlessly.
What is a Board Evaluation?
A board evaluation is the process by which a board measures the overall effectiveness of its board members. The board evaluation should examine the following: roles and responsibilities; internal procedures; and the overall structure of the board.
Board evaluations provide greater transparency over board member decisions and behavior, help identify current strong points, and identify areas of improvement. The timing of a board assessment can vary from organization to organization, but they’re commonly conducted on an annual basis.
Here are some tips on how to make the best possible board evaluation report:
- Create a detailed outline for the entire board evaluation process
- Appoint an evaluation lead with no ties to the board of directors
- Choose evaluation topics that are most relevant to your organization
- Ask for feedback from directors after the evaluation is complete
There’s value in asking members to complete a board self-evaluation to review their own productivity, but it’s recommended to use third-party consultants during the board evaluation process.
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Board Evaluation Tool Features
Board evaluations can become frustratingly complicated without the right resources. Here are 5 features to look for in board evaluation tools:
1. Customization
Each organization’s requirements for board evaluation tools will differ depending on a number of variables, such as:
- Whether the organization is a corporate business, a nonprofit, or another form of association
- The size of the organization/board
- Current industry regulations
- Personal preferences
When evaluating board evaluation tools, check if the software offers enough flexibility to meet your unique needs.
2. User-Friendly Interface
It’s natural for some board members to be less tech-savvy than others. With that in mind, look for board evaluation tools with a user-friendly interface that’s easy to use for administrators of different backgrounds
3. Anonymous Feedback and Confidentiality
All effective board evaluations are built on two-way trust. Organizations must have enough confidence in their boards to value their insights while members need to believe they can share their honest opinions with other stakeholders without suffering repercussions. Board evaluation tools must offer methods to give and receive feedback anonymously via board engagement survey questions.
Confidential discussions can’t happen without the understanding that the information will remain secure at all times. OnBoard offers security features including granular permissions, biometric ID, and more.
4. Comprehensive Reporting and Analytics
Analyzing data helps boards measure performance. Tracking statistical information gives you a tangible measure of each board member’s impact on the organization and allows you to make better projections about the board’s effectiveness in the future.
OnBoard comes equipped with engagement analytics and diversity reporting to confirm your organization is in compliance with NASDAQ’s board diversity regulations.
5. Integration and Accessibility
Lastly, board evaluation tools need to integrate with other tools your board uses to conduct business.
OnBoard integrates with several applications, such as Zoom for remote meetings, Teams for seamless communication, and Microsoft 365 for collaboration.
Getting Started With OnBoard
Board evaluation tools offer a secure way to measure board member performance.
Additionally, board management software provides benefits, including enhanced security, improved accessibility, better document management, efficient meeting preparation, and improved compliance.
Enterprises, nonprofits, banks, and government agencies all trust OnBoard to evaluate their members and directors and also to get the most out of every board meeting.
Key OnBoard features include:
- Evaluation tools
- Customizable minutes and agenda builder
- Video conferencing tools and Zoom integration
- Secure messaging platform
- Voting and collaboration tools
Ready to learn more? Download our free board meeting minutes template to see how OnBoard enhances board governance.
Efficiently track and document board decisions with our Meeting Minutes Template
About The Author
- Josh Palmer serves as OnBoard's Head of Content. An experienced content creator, his previous roles have spanned numerous industries including B2C and B2B home improvement, healthcare, and software-as-a-service (SaaS). An Indianapolis native and graduate of Indiana University, Palmer currently resides in Fishers, Ind.
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