A board’s maturity is a tool that lets you determine how well your board is managing itself. Its objective is to help board members improve their performance and make the company more efficient. The process typically involves a questionnaire that is self-administered and then a discussion with consultants to interpret the results. Most https://healthyboardroom.com/evolving-role-of-company-secretaries/ models use a three-to-five levels scale to assess various aspects of the performance of your board. The first level is characterized as spontaneous, lacking formal standards or alignment. The third and second levels are more specific and contain processes.
The most important aspect of any maturity model is how it prioritises learning for your board. If you know what your board’s current level and you can easily determine the capabilities you must master the next. There are models that provide general estimates of how long it takes to advance the level at which you are currently (e.g. “A level change takes about six months, with an increase of 25% in productivity”.
Most boards start at the low end of the maturity scale. They are the least compliant ones that understand their responsibilities as well as the risk they face. They are reluctant to invest any more than the minimum time and resources into governance because it takes away from their “real jobs” of managing.
These are the people who have to be forced to accept that governing is a distinct job from executive management, which requires professional development and assessment and funds to match. It’s a risky endeavor that requires a lot of imagination, understanding and willingness to take calculated risks in the complex and interconnected external environment of politics and economics.
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