How to assess your board talents what to look out for
Effective assessment takes a four-category approach to board abilities (skills Matrix). All current and prospective directors should be expected to fall into the first two categories, but have the ability to learn governance skills through a formal professional development programme. As there would be a variety of talents required, depending on the activities, present demands, and future needs of the organisation, technical and industry skills could be addressed by each individual director on a board.
This category examines the behavioural characteristics that enable directors to contribute to the effectiveness of the board. It includes the capacity to communicate with other board members, management, and stakeholders, as well as the capacity to engage in spirited debate and pose challenging queries. Additionally, it requires tact, diplomacy, and self-awareness.
Alignment with organisational principles and a desire to participate in the board and committees are other aspects of behavioural competencies.
All directors must possess fundamental governance competencies. This includes things like displaying the necessary corporate governance abilities and comprehending the roles and responsibilities of its directors. being able to recognise conflicts and participate in conversations on conflict management. A board may think about requiring specific degrees of corporate governance expertise or education.
This includes any specialised expertise or technological prowess needed to support the board’s decision-making. This category would include abilities or knowledge in the fields of legal, human resources, marketing, cyber security, or ESG.
The board would have to decide whether any special technical skills existed, such as knowledge of the construction of machinery or medical training, when creating its skills matrix.
A highly effective board also needs experience and expertise of the sector in which the organisation works. A board might, for instance, demand expertise in adult education, agriculture, or the financial services industry. The board may have specific industries it wants represented on the board, and only by intentionally taking these into account will it be able to hire according to a skills matrix.
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