AIST & IFS Legal Board Performance Appraisal
Why consider undertaking a Board Performance Appraisal?
Self-appraisal of board performance is a relatively new
exercise, whether for listed or unlisted companies, not-for-profit
organisations, or for superannuation funds. This is despite the
fact that the appraisal of executive and staff performance, and
outsourced providers is now widespread.
The AIST/IFS Legal Board Performance Appraisal Program utilises
a collective director performance approach, underpinned by a
director survey that focuses on the two key aspects to making a
board successful in its operation.
- Focus on improving processes pertaining to board
activities;
- Improving the 'people factor' in board deliberations.
Philosophy of the AIST/IFS Legal Program
We believe the most important feature of a board performance
appraisal process, whether conducted on an individual or collective
basis, is that it should be perceived by participants as a
non-confronting, positive exercise aimed at enhancing the board's
operation and effectiveness.
The AIST/IFS Legal Board Performance Appraisal Program uses a
collective approach to identify process and people issues to be
reviewed, analysed and brought back to the board for discussion and
action.
The program consists of a three step
process:
- Survey
- Analysis
- Report and Presentation
The Chair of the Fund, and subsequently the board are appraised
of the objectives of the Board Performance Appraisal process.
The survey is then distributed to all directors and is filled
out on a strictly anonymous basis.
Both qualitative and quantitative results from the surveys are
then analysed to identify priority issues to be presented to the
board.
The package includes a comprehensive report and presentation to
the full board regarding areas identified for improvement.
For more information please call AIST on (03) 8677 3800 or
email us.