Coronavirus – Virtual Effectiveness Reviews For Virtual Boards

Plus other ready-to-go online governance solutions

Boards, management and office-based staff are all learning rapidly how to work from home. No doubt you, like others, are determined to ensure that the board stays on top of things even if you aren’t gathering around the same table. So we’ve taken the same approach to board effectiveness reviews. There’s absolutely no need to let your continuous improvement programme slip. Whatever is needed for your board, we can provide it in a virtual world – whether it’s external reviews using interviews or questionnaires, or helping you with your self-assessment when “cosy fireside chats” aren’t so easy to arrange.

EXTERNALLY-FACILITATED BOARD & COMMITTEE EVALUATIONS

Interview-based

If you want to continue with an interview-based approach we will:

  • Conduct all interviews and discussions by video call (preferably) or phone
  • Review your papers remotely (through your portal or another solution)
  • Observe your board meeting remotely, joining in the same way as other participants
  • Discuss the draft with the Chair and the final report with the Board, by VC or phone
Questionnaire-based

Thinking Board® was designed to overcome the typical downsides of questionnaires, and with our facilitation, boards find our reviews interesting and rigorous. An alternative to interviews, our approach meets the standards of an “externally facilitated review” under the Corporate Governance Code so you can report it as such in your Annual Report – even more so when combined with us reviewing your board papers and observing a meeting. We have expert questionnaires covering the Board itself and all the main committees. If you have a less typical committee, we will work with you to develop a specific short questionnaire.

We will:

  • Conduct the kick-off (scoping) discussion by video call or phone
  • Make the online questionnaire available to all directors and other respondents
  • Analyse the results and draft the report
  • Discuss the draft with the Chair and the final report with the Board, by VC or phone

In addition, you might opt for us to:

  • Review your papers remotely (through your portal or another solution)
  • Observe your board meeting remotely, joining in the same way as other participants

Our ready-to-go Thinking Board® online questionnaire service is rigorous, quick and easy. Used by some 200 organisations, we often hear that it brings more insight and value than people were expecting. And it’s quick and easy to set up, saving the Company Secretary a lot of time.

Individual director and Chair reviews with Thinking Board®

If you want a questionnaire-based solution for director and Chair performance review:

  • We administer a “360 review” on Thinking Board®
  • We analyse the results
  • We produce individual reports for those reviewed, maintaining the anonymity of respondents and ensuring the feedback is presented constructively
  • We discuss the review outcomes with the Chair and/or SID, using VC or phone

INTERNAL BOARD & COMMITTEE EVALUATIONS

Self-assessment with Thinking Board®

If you want to a well-structured questionnaire-based review free from hassle:

  • We set you up on Thinking Board® and work with you on any tweaks you might need
  • You do everything online – it’s easy but we provide training
  • If it helps, we can take the administration off your shoulders for a small fee

SUBSIDIARY GOVERNANCE EVALUATIONS

Subsidiary Board & Committee Reviews with Thinking Board®

In a time of crisis you will need to be confident that subsidiary governance is sound, especially given that management can’t travel and have to check on operations from a distance:

Thinking Board® includes functionality and questionnaires especially designed to help you assess the effectiveness of subsidiary boards and committees

  • Our reporting functionality enables you to quickly drill down to work out the weak spots
  • You do everything online – but we help you set it up

SUPPORT FOR AUDIT COMMITTEES AND INTERNAL AUDIT

EQA review with Thinking Board®

If you need to go ahead with your five-yearly EQA of Internal Audit, you can do this through our online ready-to-use service:

  • Externally-facilitated reviews using Thinking Board® questionnaires designed especially for Internal Audit EQAs
  • Unique questionnaires get beneath the surface and give insight into what’s really going on
  • Easy to get the opinions of many different stakeholders in multiple locations
  • We add colour to the questionnaire findings by using VC/phone to interview key stakeholders
  • We do audit walk-throughs and review files with the audit team members by VC/phone
  • We analyse the results (keeping respondents anonymous) and produce a report
  • We discuss the report with the Audit Committee and Head of Internal Audit, by VC/phone Or we can set you up to use Thinking Board® for a rigorous self-assessment.

Or we can set you up to use Thinking Board® for a rigorous self-assessment.