It is extensively recognized that governance increases the bottom line and the financial results achieved for shareholders and other stakeholders. The Sirdar Group, Africa’s leading educator, appointer and guide of high-performance boards, provides a fool proof method to tackle and improve the role of the board using a High-Performance Board Assessment.
The Sirdar High-Performance Board Assessment enables businesses to understand their current position, determine the appropriate structure for the board and ensure that the correct directors are appointed to lead and take the business to the next level. The assessment is conducted by one of Sirdar senior associates, the entire process looks to collect critical info and unpack these findings and provide recommendations on the plan going forward.
The Sirdar Group has worked with a number of businesses over the years to help implement and guide their board of directors for a variety of reasons:
1. Improve your businesses’ performance: a high-performance board, focused on its role leading the company will have a direct and tangible impact on company performance and growth. While the fact that the board does not undertake the actual work makes it difficult to directly measure, articles and studies worldwide have demonstrated the value an effective board an effective board adds.
2. Increase your company’s sustainability: You may already have a very successful business; however, a board could still take you higher. Effective boards increase the relative performance of the enterprise. This could mean improvement in the sustainability of your company, getting you to focus on the development of the next tier of leadership, or unlock opportunities you had not yet considered.
3. Prepare your enterprise for sale: Sirdar Group has supported a number of clients over the years who had the specific objective of increasing the value of their exit. They required directors who have been there and done that, people with an understanding of what the potential purchasers would be looking for, a board who could support the company to demonstrate its value and success. If you are looking to exit your business in the future, a board could be the guide that you require.
4. Support your succession and handover plan: You may have just come back from your last holiday and said “It is time!” or you may not have been able to take a holiday for 20 years. Whether to your son or daughter or a key employee you have been grooming for 10 years, a high-performance board can both support the process to prepare for the final handover and be an invaluable resource to the new leader. These times can also be hugely emotional and a board provides the balance and perspective that is critically required through such times.
How it works:
The process includes a detailed questionnaire, followed by a two-hour interview with a senior associate. After the interview, a draft of the report is peer reviewed by another senior Sirdar team member before being presented for review. Once finalized the senior associate debriefs the recommendations and agrees on a High-Performance Board Implementation Plan. Based on the findings the Group then provides key recommendations, giving the board insight on the proposed key focus for the next 18 months as well as detailing what should be done at 3, 6, 9, 12, 18 months.