Review of Board Performance and Effectiveness
Why is it important to corporate Governance to review board performance?
Good governance means reviewing the boards performance collectively and individually and developing the capacity of the governance team to be effective.
• If you treasure it measure it
• It provides a routemap to improve the board's performance and effectiveness
• It's a regulatory requirement of the HCA SHR and Welsh Government and the UK Corporate Governance Code
Best practice recommends that this is carried out with the support of an independent person every three years.
With BDA supporting:
• Chairs feel more confident in the role and value a fresh and independent opinion
• The board is assisted with the Chair’s appraisal
• Boards are more able to accept recommendations from an independent person
• Boards are supported in implementing a development plan
• It save the chair a lot of time as BDA will perpare all the paperowrk and reports
BDA's external evaluation:
• Provides a fresh perspective
• Results in more productive Board meetings and effective decision making
• Improves personal relationships and appreciation of individual roles
• Improves board team work and a collaborative working relationship with the executive and with internal and external stakeholders
• It sets the groundwork for better succession planning and board recruitment
Review and Benchmarking - Your Governance Review
Improve What You do With Governance Review
The codes of governance recommend annual reviews of governance. With a BDA governance review you get:
• An independent perspective
• A powerful critical friend approach that challenges you to think about what you could do differently
Join our Governance Review and Benchmarking Club and develop a governance improvement plan. High quality governance is not just about satisfying the regulators and funders; it is much more than that.
Let us demonstrate:
The NFH Code of Governance - annual review checklist only gives you a minimum compliance tool.
BDAs Benchmarking Tool is for those who want governance excellence. You get:
• Electronic Governance best practice accessible at no cost to Go members
• Multi-view dynamic Scorecards showing performance trends and where attention by the Board is warranted and in what form
• A high quality benchmarking tool with innovative ideas to improve governance
We would be pleased to show you how to use BDA's "Governance Review Benchmarking Tool and its Matrix".
Then you can simply:
• Review your organisations governance structures
• Benchmark your governance to demonstrate your high quality governance
• Design an improvement plan and support network (importantly that can be evidenced) - use to support a request for an enhanced assessment by the Regulator
With BDA you get independent advice on your Business Case including pay reviews.
BDA Challenges the Board to consider:
• An objective view of their own performance and their ability to provide strategic leadership as well as effective stewardship
• How to measure the board against good practice and decide whether payment would improve delivery
• How to demonstrate accountability to stakeholders. Everyone needs to be comfortable with the agreed levels and structure for payment
• How to monitor improvements through reviews and measurement of the added value of payment
This is not an easy process for boards to manage. However, the rewards can be great, with more efficient and effective governance for now and for the future.
BDA gives you:
• Briefing papers for the board, setting out the general and particular issues that need to be considered
• Support with the business case and the complex details of any payment scheme
• A 'gap analysis' against current best practice in governance
• Further reports and recommendations to the board
• Advice on suitable payment levels benchmarked against suitable sector comparators
• A first year review of any payment scheme instituted
Resolve board and executive management disputes with mediation and avoid other more divisive forms of action such as disciplinary procedure.
With BDA you get Impartial and independant mediators who will:
• Open and improve dialogue between disputants
• Review options and outcomes with them
• Help reach an agreement (with concrete outcomes)
• Provide coaching and mentoring those involved in the dispute
Supplement Your Governance Officer Service
With BDA you get:
• An interim senior Governance Officer on your team without having the responsibility of employing more staff
• Minute takers to work on an ad-hoc basis to filll gaps left by staff leaving, holidays, maternity leave or sick leave
• A 'virtual' and 'on site' Governance Officer service, which enables you to add value - on a needs basis to your existing service
• Help with jobs your in-house team don't have time for and lift your governance to a new level.
For example; to:
• Review annual compliance with your governance code
• Organise and run your board appraisal
• Sort out your board's development needs
• Organise and facilitate your board away days or staff conferences
• Review your policies and procedures
• Give you and keep up to date a Board Members Handbook
• Look after your Register of Interests
With our support new staff will learn on the job with:
• BDA mentoring
• Our specialist interim service to cover staff absences
Succession Planning For Independent Board
Successful organisations have board succession plans. Finding a new Chair or board member is an opportunity for you to improve what you do.
Succession plans flow on from the annual strategic away day and the annual board effectiveness review.
You get an independent view and advice on your plan from BDA.
Value For Money Reviews
Value for Money reviews and statements are a business imperative not just a regulatory requirement in social housing.
BDA's value for money reviews (linked to our lean performance reviews) gives you:
• Measurable plans for making better use of assets based on an understanding of costs, values and yields
• Actual cost per unit trend data
• Benchmarking performance within your peer group
• Reports performance against last years VfM targets
• Sets clear VfM performance targets for the next period
• Transparency in reporting to stakeholders
• Links value to social value
VfM assessment and reporting is still in its infancy. There seems to be a lack of understanding of the need to demonstrate VfM to a sceptical public (and in particular to customers and government).
Many customers are likely to have seen a real decline in living standards over the past few years, and anyone working in government is likely to have been on the receiving end of 40%-50% resource cuts (with more to come).
So the audience for the housing sector’s VfM efforts does not start from a particularly sympathetic base. Use this to find real values and evidence the social impact your organisation is having with a BDA review.
Social Value and Impact Assessment
Not only the regulators but investors want to see how organisations maximise the impact of investment and the evidence of this in self assessments. This also means evidencing the social value created by not for profit organisations and the public sector.
Assessing social value is still in its infancy. There are several methodologies and recently a major investor called for the adoption of a system to measure social value so financial institutions are more easily able to see the impact of investment decisions. It is unlikely that any one approach to measuring social value will be adopted in the short term.
The important thing is that the Social Value organisations are measuring and evidencing must be material and significant to key stakeholders. Principally customers, regulators and funders and clearly linked to your business plan priorities and key decisions.
• The SROInet Social Return on Investment
• SAN Social Accounting and Auditing
• Cost Benefit analysis (CBA) (Treasury Greenbook)
• National Accounts of Wellbeing and the Office of National Statistics Happiness Survey 2012 approach
• LM3 (which deals only with value around employment created)
• HACT approach using Daniel Fujiwara's research commissioned by HACT and published in February 2013 on developing a financial value from well-being metrics for core and non core housing services
Outcomes you get from BDA Social Value Review and Training:
• An explanantion of the different approaches
• A review of the best approach to the evaluation and measurement of social value for your organisation
• How to use social value in making better investment decisions
• How to use the methodoloigies available
• An understanding of how this can lead to a longer term more sustainable approach to commissioning and contract assessment
• Social value in commissioning: the Public Services (Social Value Act) 2012 and in the latest EU Public Services directive