How effective is your board?
In this week's Hanover Talent Insights:
✅ How often do you conduct an external board effectiveness review?
⚙️ Case Study: Board Effectiveness Review
🤝 Hanover and Illoominus join forces
🎉 New Head of DE&I Search at Hanover
The Importance of External Board Effectiveness Reviews
Internal board reviews provide a means for a board to evaluate its own performance and identify areas for improvement. They’re also a flexible and cost-effective way for a board to assess its own governance practices and processes.
Which all sounds great, but internal board reviews don’t come without their challenges. That’s what makes external board effectiveness reviews so important for mutuals and friendly societies.
External Board effectiveness reviews (BERs) provide a fresh, objective, independent assessment of the board's performance, areas for improvement and the board's commitment to accountability, transparency and best practices in corporate governance. An external assessment asks challenging questions and delivers demanding recommendations. It also allows the board an opportunity for self-reflection and can bring in best practice and external benchmarking to help improve performance. The UK Corporate Governance Code recommends external board reviews take place every three years.
In her article, Elle Robinson takes a look at the common challenges of BERs we’ve uncovered through our BER work and offers some tangible tips for success: Read more
Case Study: Board Effectiveness Review
Want to learn more about Board Effectiveness Reviews?
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Sheffield Mutual’s Chair and CEO wanted to undertake an external Board review to compliment their internal reviews. They felt they had a good Board structure in place but wanted to make sure they were maximising everyone’s potential.
We've produced a case study on the work we've completed with Sheffield Mutual Friendly Society Limited :
Hanover and Illoominus join forces
We are extremely pleased to announce our new partnership with people data solution, Illoominus. Launched in January 2022, Illoominus is the first data analytics turnkey solution of its kind.
The platform enables HR and People leaders to easily manage their DE&I programmes by providing a real-time view of representation and benchmarking based on geography, industry, and size.
Brent Herman, our Head of DE&I, said: “We know that data insights are key to organisations progressing and measuring the impact of their DEI initiatives, so this partnership with Illoominus is very exciting for us. It gives us even more ability to help our clients track the positive impact and return on investment that DE&I initiatives deliver.”
Find out more about Illoominus and its offering and what the partnership means for Hanover: https://lnkd.in/ecYTiVca
We love to celebrate our co-workers' milestones!
One of our longest-standing employees, Christina Ratings, was recently promoted to the newly created role of Head of DE&I Search. Christina's new responsibilities will ensure that we conduct our searches with a DE&I lens, use data and insights to support our clients with their hiring and retention strategies with regard to DE&I, and lead the way for ensuring inclusive search methods for all. She will also deliver new products to support clients on their DE&I journey, specifically around hiring, accountability and making positive intentions into actions.
We're looking forward to the outcomes of her work and research.
Heather Spilsbury check out the above research from Hanover on board effectiveness.