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Too often, assessment of CEO performance
is limited to judgments regarding the financial achievements or disappointments
of the previous year. While this is an important part of the story, it is only
a part; and such a limited view tends to dwell too much on the past, where little
can be done to change things.
In reality, the most significant effects produced
by a CEO's evaluation should relate to the organization's future. A good process
clarifies the direction of the organization, gives it momentum, and advances the
development of its leader — the person most in need of the board's counsel
and support if he/she is to become the best CEO possible.
By depending less on an "in-house" process and relying more on an
independent evaluation specialist, the board can take a giant step toward a positive,
forward-thinking assessment plan of action.
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An outside analyst broadens the scope
of the evaluation and helps the board by:
- Putting into place an effective evaluation structure
- Providing clear, objective information
- Promoting open communication among all parties
- Enhancing the relationship between the board and CEO.
A Effective Structure
The consultant provides an efficient structure to
facilitate the evaluation. This includes pre-planning, feedback surveys, analysis
of data, a series of interim meetings to clarify and communicate results, and
finally the formal evaluation meeting with the board and CEO. By the time the
final meeting takes place, the performance critique has been completed, areas
of agreement and disagreement have been identified, and
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