Board Effectiveness

What does Board Effectiveness mean?

Board effectiveness is about:

• Having the right people with the right skills and experience to manage and oversee the strategy, risk and operations of your scheme

• Creating an inclusive culture and a discipline to consider your board’s performance and that of your advisers.

Any governance framework needs to be robust enough to protect against unexpected risks, but with enough flexibility to facilitate quick decisions when needed, to respond to an increasingly demanding and complex environment.

Your board needs to have cognitive diversity and be able to draw on a range of skills, experiences and perspectives to allow you to come together and make effective decisions on your behalf of scheme members.

What are the Advantages of a Board Effectiveness Review?

A board effectiveness review will help assess how well the board is delivering against its strategic objectives and evaluate how the board responds to unforeseen events and future challenges.

Having the right board structures and collectively the right group of people will ensure that your meeting time is effective and gives you the best chance of achieving your short and long term objectives without being distracted by activities that do not support your goals or thrown off-course by unexpected events.

Understanding the boards key strengths and weaknesses will help you to use the right people for the right tasks and allow you build your trustee recruitment and your succession planning to ensure that you have strength in the board to deliver your long term objectives.

How Can Aon Help?

From Aon's Adept-15 profiling tool, tools to highlight unconscious bias, questionnaires and surveys, and observations of your meetings - we have solutions for schemes of all sizes and budgets