What we do Board Development and Search
Family business boards provide ideas, insight and accountability for the future.Effective governance is at the core of a truly sustainable family enterprise. Established family businesses find that the guidance, direction and feedback gained through an active Board of Directors is an invaluable contributor to strong strategic planning and productive family relationships.
Through board development, evaluation and search, our consultants guide families through the process of assessing their needs, planning changes to their governance structure, and ensuring that the board they create provides true value.
Creating your first family board, or evolving it to be its most effective.
Many family directors receive little formal training. They struggle to separate their role as director from the role they play as family members, owners or managers. Education and clear guidelines ensure both operating and non-operating owners can navigate this dual role and contribute as full members of the board.
We help directors develop their skills, understand how effective boards work, and leverage their unique perspectives to add value inside and outside the boardroom. Then we take a comprehensive look at governance needs and current structures to design changes and improvements that serve their vision for the future.
Ensuring the board continues to contribute at the highest level.
How do you maximize the quality of the board’s contribution? Board evaluation is a systematic method for collecting feedback about the focus and function of the board. Regular evaluations can improve engagement from both the family and independent directors.
Our team works with functioning boards to collect feedback and insights on opportunities to improve engagement, management support and shareholder relations.
Finding and selecting qualified candidates that fit your family, business and culture.
We maintain a network of qualified independent director candidates for family firms and assist families with the selection and placement of directors. Our process begins with clarifying the board’s strategic needs, development of the board prospectus, help with the interview and selection process, and the referral of qualified candidates.
Adding Independents Increases Board Value for Leadership
According to our research, family businesses with independent representation on their boards reported a much higher level of board effectiveness than respondents with no independent directors. And reported effectiveness increases with the amount of independent representation. (Adapted from Pendergast, Jennifer, John Ward, and Stephanie Brun de Pontet. Building a Successful Family Business Board: Palgrave Macmillan, 2011, 17-23.)
Type of Board and Percent of Sample Rating Their Board Effective