Why and when BoardClic?
Why should I evaluate my board?
We’ve got new board members. Should I postpone our evaluation until they know the board and the company better?
An evaluation is a great way to calibrate the composition of a board with new members. An initial evaluation gives you a fresh start and sets a baseline for the future. It’s better to identify your differences early and use them to your advantage.
Why should I pay for BoardClic? I’ve used the same set of questions for several years.
An outside view offers perspective. It’s not unusual for chairpersons to use questions based on their presumptions. A third party provides an objective perspective with a birds-eye view of your company and board.
One of the most common biases in executive decision making is overconfidence. Seeing oneself as unbiased and in full control. When, in reality, one isn’t.
Also, in many countries, an independent, third-party evaluation is a mandatory part of the corporate governance code.
How often should I conduct a board evaluation?
The short answer is at least once a year. This is because contextual factors may affect responses In some cases when circumstances are extraordinary (as in the case of COVID-19), it’s wise to follow-up with a second evaluation in the same year.
The good news is that all of BoardClic’s plans are subscription-based, so you can evaluate your board as often as you like.
As a private equity investment professional, I’m looking for a comprehensive, quick evaluation solution for my portfolio. Why should I use BoardClic?
BoardClic saves time for everyone. The investment professional, the chairman and the evaluation participants. Our platform is backed by research and decades of experience. The evaluation process is smooth, time-efficient, and cost-effective compared with homemade surveys and consultant-driven projects.
A private equity firm can benefit from BoardClic across its portfolio companies. Smart evaluations help you uncover barriers to success that originate from a company’s top level. Board and management can be out of sync when it comes to strategy and its implementation.
Why settle for a one-dimensional simple board evaluation? BoardClic considers different perspectives and delivers insights into company strategy and implementation. You also save time by not switching evaluation solutions. With BoardClic, you get a track record from year to year.
Choosing the right BoardClic subscription plan
Which package suits my needs best?
The Pro Plan is our most popular package. Unlimited board and CEO evaluation services providing an accurate overview of the synergy between the two roles. It offers insight into how the CEO and the board can act and work together according to the strategy and prerequisites that have been set.
The CEO Plan keeps the board and the CEO on the same page with 360 degree feedback. Performance and leadership are in focus with this plan, which includes benchmarking and trend analysis.
The Board Plan includes a variety of formats used by leading companies and organizations throughout the corporate year. Corporate code compliant with special plans for boards at subsidiaries. Includes BoardClic Express instant meeting feedback.
The Investor Plan is suitable for a portfolio of companies. The plan includes questions regarding active ownership and a thorough evaluation of the board, CEO and executive level. We offer discounts depending on the size of your portfolio.
Your surveys have too many questions. Can I remove some?
Yes. If you opt for the Corporate plan, you can tailor parts of the content. Contact us to learn more.
We’re a small board. Do we need to evaluate the same way larger boards do?
Irrespective of the size of the board, many aspects of governance are generic.
Yet, if you’re on a small board that has never conducted a board evaluation before, we suggest you start with Essential. You can always upgrade to Pro at a later stage.
Can we tailor the statements to include our own from previous evaluations?
Yes, if you opt for the Corporate plan you can tailor parts of the content. Contact us to learn more.
The BoardClic evaluation process
How much time does BoardClic need to get started?
We can get the process started within a day or two. Here is how:
The buyer (most often the chairperson) receives a digital contract to sign electronically from BoardClic.
The account owner fills out an onboarding form that outlines your company’s details to help BoardClic categorise your data. The form asks for the names and contact details of all participants, and the requested start and end date of your surveys.
BoardClic sends out links for the surveys to all participants, and reminders if necessary. The digital report is generated on the platform and access is given to those with permission.
How do I take the survey? What do I do when I get my survey link?
See this video showcasing the process:
BoardClic evaluation walkthrough (Click to open in YouTube)
Why do you use the 1-7 range to score questions? How do you calculate the BC benchmarks and indexes?
The rating builds on a so-called Likert scale, which is common in social science research. This gives the respondent a clean and easy-to-use interface. But also allows for nuance.
Our reports include a Board Value Score. This index is calculated based on a set of statements that measure certain crucial governance aspects for organisational success. In all plans, apart from Essential, you can compare your result to the BoardClic benchmark value of a specific question or statement. The comparison is made with all other companies in our database.
The evaluations state that they take around 30 minutes to complete. Why does it have to be that long?
The content in our evaluations builds on extensive experience in the corporate governance field and multidisciplinary research. You need about 30 minutes to get good value from the evaluation.
How do I present the results?
BoardClic is user-friendly and straightforward. The platform lets you generate a presentation with the click of a button. You can share it with your board – either by download or directly in the app.
If you want help with presenting the results, let us know!