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Board effectiveness and governance

Ensuring boards deliver on their strategy and goals

Boards are under more pressure than ever to ensure the organisation realises its stated goals, meets shareholder expectations and remain true to its values. They are far more accountable for their actions than in the past and face more intense scrutiny due to a range of factors, including monitoring activities by The Financial Reporting Council (FRC).

Rialto has worked with a wide range of boards and senior committees and advised them on best practice to increase shareholder value, impact and performance. We recognise that the decision-making capability driving many boards often falls short and impedes effectiveness.

Moreover, a deep-rooted blame culture can inhibit individuals from challenging board performance. Added to this, a lack of correlation between the corporate goals and mission of the top tier and their executive committee can cost organisations millions of pounds.

Demonstrating their effectiveness

Rialto will work alongside boards and board committees to embed the behaviours, competencies and processes which will improve effectiveness. This includes:

  • eliminating behavioural- and process-related factors that are causing the board to squander time
  • streamlining and improving the decision-making process
  • helping to develop a culture which doesn’t inhibit debate and encourages board members to challenge the way it operates
  • putting in place high standards of governance and accountability
  • agree a terms of reference (ToR) which will help measure improvements.

Providing expertise and insight

Through Rialto’s partnership with a wide range of boards and committees as well as individual senior executives, we have built up a wealth of knowledge and expertise into what makes a board work at optimum performance. We also understand what makes a good board turn bad and are alert to derailing personality traits in individuals as well as the danger of groupthink.

Our experts have held committee and board membership positions across different sectors and draw on personal experience and real-world case studies This is combined with tools and best practice to demonstrate and ensure effectiveness.

Having assessed why a board isn’t performing to the best of its combined abilities, Rialto will develop a programme of workshops, coaching or other inventions and provide support to measure and monitor improvements using key performance indicators.

Putting down the foundations for future success

Organisations have seen tangible results from our effectiveness programmes that go straight to the bottom line. While we know it is important to address issues that are impeding performance today, Rialto also ensures that measures put in place are sustainable and the company, therefore, is fit for the future.

 Rialto believes that in future, boards must be seen to be high-performing and proactive not only by their stakeholders but also their employees and customers. Board effectiveness is a business imperative.

We recognise that the decision-making capability driving many boards often falls short and impedes effectiveness

 

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