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Chairmen and Boards face rapidly accelerating demands due to increased scrutiny and higher expectations from regulators, activist shareholders and the media. Governance and compliance remain significant issues that Boards must address, but are only part of the story. A truly effective Board moves beyond compliance, focusing on behavioral and relationship issues that shape effective Board Dynamics and drive Board and organizational performance. Board Succession Planning is a key component to Board Dynamics. As part of our Board Dynamics process, we work with Boards to identify long-term succession needs, including chair rotation, key skills needed over time, and the impact of Director retirements.
Partnering with all stakeholders, Heidrick & Struggles’ teams diagnose, benchmark and assess a Board’s composition and contribution using such tools as Executive Culture Profile™.
In addition to the traditional cycle of Board reviews, clients seek our counsel during periods of significant transition, such as new leadership or a strategic shift, when they need confidence that the Board has the right skills, competencies, relationships and leadership behaviors to guide the business to the next stage of growth.
Through workshops, observation and one-on-one interventions, we help Boards shape relationships, culture and the team dynamics that underpin success. The process typically involves the following:
- Strategy review with Chairman/CEO
- 2:1 interviews with each Board and management member
- Benchmark performance with peer companies
- Peer review for individual performance
- Report and development recommendations
- Post-review actions