{
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  "sources": ["ssg:https://framerusercontent.com/modules/NEd4VmDdsxM3StIUbddO/bZxrMUxBPAhoXlARkK9C/YouTube.js", "ssg:https://framerusercontent.com/modules/cum6vxnO7slp7zOx9ZvI/Cs1akJCV173oG9M8OSVE/LirKPvwBI-4.js"],
  "sourcesContent": ["import{jsx as _jsx,jsxs as _jsxs}from\"react/jsx-runtime\";import{useReducer,useState}from\"react\";import{ControlType,addPropertyControls}from\"framer\";import{useIsOnCanvas,emptyStateStyle,containerStyles,defaultEvents,useRadius,borderRadiusControl}from\"https://framer.com/m/framer/default-utils.js@^0.45.0\";var PlayOptions;(function(PlayOptions){PlayOptions[\"Normal\"]=\"Off\";PlayOptions[\"Auto\"]=\"On\";PlayOptions[\"Loop\"]=\"Loop\";})(PlayOptions||(PlayOptions={}));var ThumbnailOptions;(function(ThumbnailOptions){ThumbnailOptions[\"High\"]=\"High Quality\";ThumbnailOptions[\"Medium\"]=\"Medium Quality\";ThumbnailOptions[\"Low\"]=\"Low Quality\";ThumbnailOptions[\"Off\"]=\"Off\";})(ThumbnailOptions||(ThumbnailOptions={}));var ThumbnailFormat;(function(ThumbnailFormat){ThumbnailFormat[\"WebP\"]=\"webp\";ThumbnailFormat[\"JPG\"]=\"jpg\";})(ThumbnailFormat||(ThumbnailFormat={}));/**\n * @framerIntrinsicWidth 560\n * @framerIntrinsicHeight 315\n *\n * @framerSupportedLayoutWidth fixed\n * @framerSupportedLayoutHeight fixed\n *\n * @framerComponentPresetProps isRed, borderRadius\n */ export function Youtube({url,play,shouldMute,thumbnail,isRed,onClick,onMouseEnter,onMouseLeave,onMouseDown,onMouseUp,...props}){const onCanvas=useIsOnCanvas();const isAutoplay=play!==PlayOptions.Normal;const showThumbnail=onCanvas||thumbnail!==ThumbnailOptions.Off&&!isAutoplay;const[isPreloading,preloadVideo]=useReducer(()=>true,false);const[showVideo,startVideo]=useReducer(()=>true,!showThumbnail);const[isHovered,setHovered]=useState(false);const borderRadius=useRadius(props);const hasBorderRadius=borderRadius!==\"0px 0px 0px 0px\"&&borderRadius!==\"0px\";if(url===\"\"){return /*#__PURE__*/ _jsx(Instructions,{});}const parsedURL=parseVideoURL(url);if(parsedURL===undefined){return /*#__PURE__*/ _jsx(ErrorMessage,{message:\"Invalid Youtube URL.\"});}const[videoId,embedURL]=parsedURL;// https://stackoverflow.com/questions/2068344/how-do-i-get-a-youtube-video-thumbnail-from-the-youtube-api\nconst thumbnailURL=getThumbnailURL(videoId,thumbnail,getWebPSupported()?ThumbnailFormat.WebP:ThumbnailFormat.JPG);// https://developers.google.com/youtube/player_parameters\nconst searchParams=embedURL.searchParams;searchParams.set(\"iv_load_policy\",\"3\");searchParams.set(\"rel\",\"0\");searchParams.set(\"modestbranding\",\"1\");searchParams.set(\"playsinline\",\"1\");if(isAutoplay||showThumbnail){searchParams.set(\"autoplay\",\"1\");}if(isAutoplay&&shouldMute){searchParams.set(\"mute\",\"1\");}if(play===PlayOptions.Loop){searchParams.set(\"loop\",\"1\");searchParams.set(\"playlist\",videoId);}if(!isRed){searchParams.set(\"color\",\"white\");}return /*#__PURE__*/ _jsxs(\"article\",{onPointerEnter:()=>setHovered(true),onPointerLeave:()=>setHovered(false),onPointerOver:preloadVideo,onClick:startVideo,style:{...wrapperStyle,borderRadius,transform:// Safari sometimes struggles to render border-radius:\n// - on the canvas when changing from 0 to any other value\n// - or when rendering an iframe\nhasBorderRadius&&(showVideo||onCanvas)?\"translateZ(0.000001px)\":\"unset\",cursor:\"pointer\",overflow:\"hidden\"},children:[isPreloading&&/*#__PURE__*/ _jsx(\"link\",{rel:\"preconnect\",href:\"https://www.youtube.com\"}),isPreloading&&/*#__PURE__*/ _jsx(\"link\",{rel:\"preconnect\",href:\"https://www.google.com\"}),/*#__PURE__*/ _jsx(\"div\",{style:{...videoStyle,background:showThumbnail?`center / cover url(${thumbnailURL}) no-repeat`:undefined}}),showVideo?/*#__PURE__*/ _jsx(\"iframe\",{style:videoStyle,src:embedURL.href,frameBorder:\"0\",allow:\"presentation; fullscreen; accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture\",onClick:onClick,onMouseEnter:onMouseEnter,onMouseLeave:onMouseLeave,onMouseDown:onMouseDown,onMouseUp:onMouseUp}):/*#__PURE__*/ _jsx(PlayButton,{onClick:startVideo,isHovered:isHovered,isRed:isRed})]});}Youtube.displayName=\"YouTube\";addPropertyControls(Youtube,{url:{type:ControlType.String,title:\"Video\"},play:{type:ControlType.Enum,title:\"Autoplay\",options:Object.values(PlayOptions)},shouldMute:{title:\"Mute\",type:ControlType.Boolean,enabledTitle:\"Yes\",disabledTitle:\"No\",hidden(props){return props.play===PlayOptions.Normal;}},thumbnail:{title:\"Thumbnail\",description:\"Showing a thumbnail improves performance.\",type:ControlType.Enum,options:Object.values(ThumbnailOptions),hidden(props){return props.play!==PlayOptions.Normal;}},isRed:{title:\"Color\",type:ControlType.Boolean,enabledTitle:\"Red\",disabledTitle:\"White\"},...borderRadiusControl,...defaultEvents});const defaultProps={url:\"https://youtu.be/smPos0mJvh8\",play:PlayOptions.Normal,shouldMute:true,thumbnail:ThumbnailOptions.Medium,isRed:true};Youtube.defaultProps=defaultProps;function parseVideoURL(urlString){let url;try{url=new URL(urlString);}catch{const embedURL=getEmbedURL(urlString);return[urlString,embedURL];}if(url.hostname===\"youtube.com\"||url.hostname===\"www.youtube.com\"||url.hostname===\"youtube-nocookie.com\"||url.hostname===\"www.youtube-nocookie.com\"){const pathSegments=url.pathname.slice(1).split(\"/\");// https://www.youtube.com/watch?v=Fop2oskTug8\nif(pathSegments[0]===\"watch\"){const videoId=url.searchParams.get(\"v\");const embedURL1=getEmbedURL(videoId);return[videoId,embedURL1];}// https://www.youtube.com/embed/Fop2oskTug8\nif(pathSegments[0]===\"embed\"){const videoId1=pathSegments[1];return[videoId1,url];}}// https://youtu.be/Fop2oskTug8\nif(url.hostname===\"youtu.be\"){const videoId2=url.pathname.slice(1);const embedURL2=getEmbedURL(videoId2);return[videoId2,embedURL2];}}function getEmbedURL(videoId){return new URL(`https://www.youtube.com/embed/${videoId}`);}function getThumbnailURL(videoId,res,format=ThumbnailFormat.JPG){// https://gist.github.com/a1ip/be4514c1fd392a8c13b05e082c4da363\nconst pre=ThumbnailFormat.WebP?\"https://i.ytimg.com/vi_webp/\":\"https://i.ytimg.com/vi/\";const ext=ThumbnailFormat.WebP?\"webp\":\"jpg\";switch(res){case ThumbnailOptions.Low:return`${pre}${videoId}/hqdefault.${ext}`;case ThumbnailOptions.Medium:return`${pre}${videoId}/sddefault.${ext}`;case ThumbnailOptions.High:return`${pre}${videoId}/maxresdefault.${ext}`;default:return`${pre}${videoId}/0.${ext}`;}}let _getWebPSupported;// https://stackoverflow.com/a/27232658\nfunction getWebPSupported(){// We're going to default to webp because it's pretty widely supported by now\nif(!window){return true;}if(_getWebPSupported!==undefined){return _getWebPSupported;}const element=document.createElement(\"canvas\");if(!!(element.getContext&&element.getContext(\"2d\"))){// was able or not to get WebP representation\nreturn element.toDataURL(\"image/webp\").indexOf(\"data:image/webp\")==0;}else{// very old browser like IE 8, canvas not supported\nreturn false;}}// Helper components\nfunction Instructions(){return /*#__PURE__*/ _jsx(\"div\",{style:{...emptyStateStyle,overflow:\"hidden\"},children:/*#__PURE__*/ _jsx(\"div\",{style:centerTextStyle,children:\"To embed a Youtube video, add the URL to the properties\\xa0panel.\"})});}function ErrorMessage({message}){return /*#__PURE__*/ _jsx(\"div\",{className:\"framerInternalUI-errorPlaceholder\",style:{...containerStyles,overflow:\"hidden\"},children:/*#__PURE__*/ _jsxs(\"div\",{style:centerTextStyle,children:[\"Error: \",message]})});}function PlayButton({onClick,isHovered,isRed}){return /*#__PURE__*/ _jsx(\"button\",{onClick:onClick,\"aria-label\":\"Play\",style:buttonStyle,children:/*#__PURE__*/ _jsxs(\"svg\",{height:\"100%\",version:\"1.1\",viewBox:\"0 0 68 48\",width:\"100%\",children:[/*#__PURE__*/ _jsx(\"path\",{d:\"M66.52,7.74c-0.78-2.93-2.49-5.41-5.42-6.19C55.79,.13,34,0,34,0S12.21,.13,6.9,1.55 C3.97,2.33,2.27,4.81,1.48,7.74C0.06,13.05,0,24,0,24s0.06,10.95,1.48,16.26c0.78,2.93,2.49,5.41,5.42,6.19 C12.21,47.87,34,48,34,48s21.79-0.13,27.1-1.55c2.93-0.78,4.64-3.26,5.42-6.19C67.94,34.95,68,24,68,24S67.94,13.05,66.52,7.74z\",fill:isHovered?isRed?\"#f00\":\"#000\":\"#212121\",fillOpacity:isHovered?isRed?1:.8:.8,style:{transition:\"fill .1s cubic-bezier(0.4, 0, 1, 1), fill-opacity .1s cubic-bezier(0.4, 0, 1, 1)\"}}),/*#__PURE__*/ _jsx(\"path\",{d:\"M 45,24 27,14 27,34\",fill:\"#fff\"})]})});}const buttonStyle={position:\"absolute\",top:\"50%\",left:\"50%\",transform:\"translate(-50%, -50%)\",width:68,height:48,padding:0,border:\"none\",background:\"transparent\",cursor:\"pointer\"};const wrapperStyle={position:\"relative\",width:\"100%\",height:\"100%\"};const centerTextStyle={textAlign:\"center\",minWidth:140};const videoStyle={position:\"absolute\",top:0,left:0,height:\"100%\",width:\"100%\"};\nexport const __FramerMetadata__ = {\"exports\":{\"Youtube\":{\"type\":\"reactComponent\",\"name\":\"Youtube\",\"slots\":[],\"annotations\":{\"framerSupportedLayoutWidth\":\"fixed\",\"framerSupportedLayoutHeight\":\"fixed\",\"framerIntrinsicHeight\":\"315\",\"framerIntrinsicWidth\":\"560\",\"framerComponentPresetProps\":\"isRed, borderRadius\",\"framerContractVersion\":\"1\"}},\"__FramerMetadata__\":{\"type\":\"variable\"}}}\n//# sourceMappingURL=./YouTube.map", "import{jsx as e,jsxs as t}from\"react/jsx-runtime\";import{ComponentPresetsConsumer as a,Link as n}from\"framer\";import{motion as r}from\"framer-motion\";import*as o from\"react\";import{Youtube as i}from\"https://framerusercontent.com/modules/NEd4VmDdsxM3StIUbddO/bZxrMUxBPAhoXlARkK9C/YouTube.js\";export const richText=/*#__PURE__*/t(o.Fragment,{children:[/*#__PURE__*/t(\"p\",{children:[\"When managing and planning for transition, keeping both the outgoing and the incoming CEO aligned with the board is critical. BoardClic\u2019s \",/*#__PURE__*/e(n,{href:\"https://boardclic.com/products/ceo-evaluation\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"CEO evaluation\"})}),\" promotes full transparency, identifies strengths that underpin value and highlights your executive\u2019s capacity to strategise and lead. An objective evaluation is a powerful tool when managing transition. To try BoardClic\u2019s CEO evaluation, \",/*#__PURE__*/e(n,{href:\"https://boardclic.com/demo-request/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"request a free demo today\"})}),\".\"]}),/*#__PURE__*/e(\"p\",{children:\"This article covers how to plan for a transition and includes a checklist to help you find the right candidate and keep momentum in your business during the change.\"}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"Why plan for executive transition?\"}),/*#__PURE__*/t(\"p\",{children:[\"Because getting it right is difficult. \",/*#__PURE__*/e(n,{href:\"https://fortune.com/2022/03/11/how-best-fortune-500-ceos-leverage-boards/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"McKinsey and the Center for Creative Leadership\"})}),\" found that 40% of new CEOs fail in their first 18 months. And \",/*#__PURE__*/e(n,{href:\"https://www.ddiworld.com/challenges/ceo-succession\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"DDI Global Leadership Forecast\"})}),\" found that just under half of executive transitions flop. The good news is that you can boost chances of success by up to 25% by promoting talent internally with a robust transition plan.\"]}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"A CEO transition plan helps you:\"}),/*#__PURE__*/t(\"ul\",{style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"26px\",\"--framer-text-alignment\":\"left\",\"--framer-text-color\":\"rgb(116, 125, 136)\",\"--framer-text-transform\":\"none\"},children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"Identify suitable candidates to replace the current CEO\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"Establish processes to prepare an incoming CEO to take over\"})})]}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"h2\",{children:\"The transition checklist\"}),/*#__PURE__*/e(\"h3\",{children:\"\u2611\uFE0F Engage the CEO AND the board\"}),/*#__PURE__*/t(\"p\",{children:[\"Where once the CEO usually controlled succession planning, often now the responsibility is \",/*#__PURE__*/e(n,{href:\"https://uk.practicallaw.thomsonreuters.com/w-001-4606?transitionType=Default&contextData=(sc.Default)&firstPage=true\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"shared\"})}),\" with the board. CEOs need to look for leadership skills and interest in strategic direction among staff members, because they \u201Care responsible for refining their executive team and ensuring its sustainability,\u201D according to \",/*#__PURE__*/e(n,{href:\"https://www.raconteur.net/c-suite/ceo/ceo-succession-plan/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"Tony Kirschner\"})}),\", a partner at executive search firm Leaders International. Having said that, the board also needs to be active, particularly if the current CEO is uncooperative.\"]}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"\u2611\uFE0F Adopt a leadership development mindset\"}),/*#__PURE__*/t(\"p\",{children:[\"If your organisation does not have a tradition of succession planning, CEO transitions can be a delicate matter. Board members may be concerned that by broaching the subject, they appear to be undermining an incumbent. Similarly, a \",/*#__PURE__*/e(n,{href:\"https://hbr.org/2016/09/a-ceos-personality-can-undermine-succession-planning\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"CEO that refuses to accept they will ever need replacing\"})}),\" can prevent effective transition planning.\"]}),/*#__PURE__*/e(\"p\",{children:\"However, the simple fact is that every CEO will move on at some point, and companies with a solid plan are the ones best placed to successfully transition leaders.\"}),/*#__PURE__*/e(\"p\",{children:\"If the board focuses on spotting and preparing next-generation leaders, finding that perfect candidate will be much easier. Plus the new CEO will be well-acquainted with the processes and relationships they need to be successful.\"}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"\u2611\uFE0F Make a contingency plan\"}),/*#__PURE__*/e(\"p\",{children:\"A transition plan works best when a CEO retires, decides to leave of their own accord with standard notice, or reaches the end of fixed tenure. We all know that is not always the case. If a CEO is removed, has to leave immediately, takes ill or dies, you will not have time to complete the usual transition plan.\"}),/*#__PURE__*/t(\"p\",{children:[\"This is why it is important to include continuous development for potential leaders in your strategy. You should also \",/*#__PURE__*/e(n,{href:\"https://hbr.org/2020/05/your-ceo-succession-plan-cant-wait\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"have a contingency plan\"})}),\" where a trusted senior board member or external executive steps in as interim CEO while you search for a permanent replacement.\"]}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"\u2611\uFE0F Set your goals and timetable\"}),/*#__PURE__*/e(\"p\",{children:\"To keep all stakeholders on the same page, you should set goals for the new CEO. This helps fine-tune the transition plan to meet the requirements of your specific business.\"}),/*#__PURE__*/e(\"p\",{children:\"Set timelines for introducing the new CEO to new concepts, targets and ideas. What do they need to work on in the first days, weeks and months of their transition? This creates a roadmap to follow to ensure all aspects are covered. It might look something like this:\"}),/*#__PURE__*/t(\"ul\",{style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"26px\",\"--framer-text-alignment\":\"left\",\"--framer-text-color\":\"rgb(116, 125, 136)\",\"--framer-text-transform\":\"none\"},children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"First week: Start to develop relationships with the board and set expectations.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"First 30 days: Introduce company culture and practices. Consider how to get early wins.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"First 60 days: Work on developing the new CEO\u2019s vision and align it with the organisation.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"First 90 days: Refine vision as it relates to communicating with stakeholders.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"First 6 months: Communicate vision, set development goals.\"})})]}),/*#__PURE__*/t(\"p\",{children:[\"According to the \",/*#__PURE__*/e(n,{href:\"https://hbr.org/2016/12/after-the-handshake\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"Harvard Business Review\"})}),\", many transitions fail because boards set one-dimensional or generic expectations of the new leader that only emphasise financial and operational goals and not specific cultural, political, and personal ones.\"]}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"\u2611\uFE0F Update your strategic plan\"}),/*#__PURE__*/e(\"p\",{children:\"If you choose a candidate whose vision differs from your current strategic plan, you should update and align your plan. If you select a new CEO with a different view of the company\u2019s future, chances are this was one of the main reasons they were offered the job.\"}),/*#__PURE__*/t(\"p\",{children:[\"Alternatively, the incoming CEO\u2019s vision may already align with the company\u2019s. In any event, take this opportunity to ensure that all parties are in sync when it comes to where your organisation needs to go. Given changes in technology, demographics and \",/*#__PURE__*/e(n,{href:\"https://marketbusinessnews.com/financial-glossary/market-forces/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"market forces\"})}),\", it makes sense to reassess your strategic plan from time to time anyway.\"]}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"\u2611\uFE0F Create a transition task force\"}),/*#__PURE__*/e(\"p\",{children:\"A transition task force can help prepare the ground for the new CEO. The team should manage everything from crafting the job description to keeping key stakeholders in the loop.\"}),/*#__PURE__*/e(\"p\",{children:\"With major changes like a new CEO can create unrest, often caused by leaks and rumours. The task force should keep stakeholders informed of what is happening and why it is happening to mitigate potential concerns.\"}),/*#__PURE__*/t(\"p\",{children:[\"If you have a solid transition plan, the task force can begin building excitement for the upcoming leadership change. The \",/*#__PURE__*/e(n,{href:\"https://www.mercuriurval.com/de-at/institute/insights/ceo-perspective-how-to-build-your-business-by-networking/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"outgoing CEO will have built strong relationships\"})}),\", and these contacts need assurance that someone capable will fill these shoes.\"]}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"\u2611\uFE0F Draft an exit announcement\"}),/*#__PURE__*/t(\"p\",{children:[\"A \",/*#__PURE__*/e(n,{href:\"https://www.greatsampleresume.com/letters/business-letters/ceo-resignation\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"CEO resignation letter\"})}),\" can also aid a transition by mitigating worries from internal and external stakeholders. An endorsement from a well-respected predecessor helps encourage acceptance. The exit announcement should show a continuation, rather than the end of one era and a break before a new one begins. Stakeholders want to hear that the two leaders have worked together to make the transition as smooth as possible.\"]}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"CEO transition checklist template example\"}),/*#__PURE__*/e(\"p\",{children:\"Here are a couple of more detailed transition checklists:\"}),/*#__PURE__*/t(\"ul\",{style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"26px\",\"--framer-text-alignment\":\"left\",\"--framer-text-color\":\"rgb(116, 125, 136)\",\"--framer-text-transform\":\"none\"},children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(n,{href:\"https://www.southwestern.edu/live/files/972\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"Transition Checklist 1\"})})})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(n,{href:\"https://www.nonprofitnext.org/sites/default/files/resource_library/a_leadership_transition_checklist_rf.pdf\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"Transition Checklist 2\"})})})})]})]});export const richText1=/*#__PURE__*/t(o.Fragment,{children:[/*#__PURE__*/t(\"p\",{children:[\"The \",/*#__PURE__*/e(\"strong\",{children:\"role of the Chair\"}),\" is increasingly critical for success in a progressively uncertain corporate environment. The CEO and the other board members rely on them to be a trusted sounding board. Chairs face challenges ranging from unforeseen events, such as the pandemic or geopolitical disruption, to climate change and sharper investor scrutiny.\"]}),/*#__PURE__*/t(\"p\",{children:[\"The role of a Chair is a balancing act; to be both leader and follower. Because they have fewer traditional instruments of organizational power, such as unilateral decision-making authority, investment budgets, or a pyramid of subordinates, they must literally lead through others.\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]}),/*#__PURE__*/e(\"img\",{alt:\"\",className:\"framer-image\",height:\"401\",src:\"https://framerusercontent.com/images/fIFqVTSyWtCGLYCULVSwoxrCwQQ.png\",srcSet:\"https://framerusercontent.com/images/fIFqVTSyWtCGLYCULVSwoxrCwQQ.png?scale-down-to=512 512w,https://framerusercontent.com/images/fIFqVTSyWtCGLYCULVSwoxrCwQQ.png?scale-down-to=1024 1024w,https://framerusercontent.com/images/fIFqVTSyWtCGLYCULVSwoxrCwQQ.png 1200w\",style:{aspectRatio:\"1200 / 802\"},width:\"600\"}),/*#__PURE__*/e(\"p\",{children:\"Six research initiatives have recently examined the role of the Chair based on the study of more than 2,000 Chairs and board directors across the globe. In this article, we explore examples of good practices for successful Chairs that were identified in the research and summarize our findings in four action areas.\"}),/*#__PURE__*/t(\"p\",{children:[\"The Chair is instrumental in \",/*#__PURE__*/e(\"strong\",{children:\"focusing \"}),\"and \",/*#__PURE__*/e(\"strong\",{children:\"engaging \"}),\"the board and CEO\",/*#__PURE__*/e(\"strong\",{children:\" on the issues that matter most, ensuring \"}),\"that key\",/*#__PURE__*/e(\"strong\",{children:\" stakeholders \"}),\"are \",/*#__PURE__*/e(\"strong\",{children:\"understood, \"}),\"and promoting increasingly\",/*#__PURE__*/e(\"strong\",{children:\" dynamic board work \"}),\"to adjust to heightened demands.\"]}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"The leading chair of the future excels in four areas\"}),/*#__PURE__*/t(\"ul\",{style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"26px\",\"--framer-text-alignment\":\"left\",\"--framer-text-color\":\"rgb(116, 125, 136)\",\"--framer-text-transform\":\"none\"},children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/t(\"p\",{children:[\"Engage and \",/*#__PURE__*/e(\"strong\",{children:\"lead the board on the issues that matter most\"})]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/t(\"p\",{children:[\"Engage the board \",/*#__PURE__*/e(\"strong\",{children:\"for effective impact\"})]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/t(\"p\",{children:[\"Engage and \",/*#__PURE__*/e(\"strong\",{children:\"guide the CEO\"})]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/t(\"p\",{children:[\"Engage with \",/*#__PURE__*/e(\"strong\",{children:\"prioritised stakeholders\"})]})})]}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h2\",{children:\"Good practices of successful chairs\"}),/*#__PURE__*/e(\"h3\",{children:\"Engage and lead the board on the issues that matter most\"}),/*#__PURE__*/t(\"ul\",{style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"26px\"},children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"to ensure that the board keeps abreast of current business, actively assessing market insights and frequently sharing news and new trends among members\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"to define an engaging purpose, differentiating strategy, and ambitious, clear goals and agenda for value creation\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"to agree on materiality, key risks, and opportunities that guide company agility\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"to focus on and decisively drive the most critical matters\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"to promote agreement on the board\u2019s role and critical areas of involvement\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"focus on crisis practice and company resilience\"})})]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]}),/*#__PURE__*/e(\"img\",{alt:\"\",className:\"framer-image\",height:\"276\",src:\"https://framerusercontent.com/images/P8TQFkjXnuHYjNzD3SYc7q6EFSA.png\",srcSet:\"https://framerusercontent.com/images/P8TQFkjXnuHYjNzD3SYc7q6EFSA.png?scale-down-to=512 512w,https://framerusercontent.com/images/P8TQFkjXnuHYjNzD3SYc7q6EFSA.png 980w\",style:{aspectRatio:\"980 / 553\"},width:\"490\"}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"em\",{children:\"The Chair has an overriding responsibility for a company\u2019s long-term success. The Chair sets company direction, provides general guidance to the board and management, and ensures that the company meets its strategic objectives. The role differs significantly depending on ownership structure. The role is increasingly demanding because staying on top of market insights takes experience, curiosity, and time. Making the appropriate strategic pivots requires courage and ambition. The most successful boards are 11% more focused on what matters most than the average board.\"})]}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"em\",{children:\"Jim Hagemann Snabe, the Chair of Siemens and the former Chair of Maersk, guides his board to spend more time and focus on the future. As one example, he develops a list of 20 questions to inspire an outside-in point of view and sends it to management four months before the annual strategy meeting.\"})}),/*#__PURE__*/t(\"h3\",{children:[/*#__PURE__*/e(\"br\",{}),\"Engage the board for effective impact\"]}),/*#__PURE__*/t(\"ul\",{style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"26px\"},children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"to support a competent, diverse board that invites and listens to outside perspectives\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"to make sure that great questions are asked, fostering quality debates, and summarizing with clarity\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"by holding regular board and CEO evaluations, providing directors with constructive feedback, which drives improvement\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"by making sure there are regular learning opportunities and guides for insights and training, including personal development\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"by establishing key policies and relevant control systems for progress monitoring\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"by establishing effective and dynamic board process, board year, board structures including committees, meeting forms, and informal interactions\"})})]}),/*#__PURE__*/e(\"img\",{alt:\"\",className:\"framer-image\",height:\"401\",src:\"https://framerusercontent.com/images/mGGLzaIH2vLznoP40aQSVaFqOXU.png\",srcSet:\"https://framerusercontent.com/images/mGGLzaIH2vLznoP40aQSVaFqOXU.png?scale-down-to=512 512w,https://framerusercontent.com/images/mGGLzaIH2vLznoP40aQSVaFqOXU.png?scale-down-to=1024 1024w,https://framerusercontent.com/images/mGGLzaIH2vLznoP40aQSVaFqOXU.png 1200w\",style:{aspectRatio:\"1200 / 802\"},width:\"600\"}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"em\",{children:\"Boards have never before had to handle so many diverse topics in the time they have at their disposal. Even if they allot hours to strategy and new issues such as geopolitics, recession, digital disruption, and sustainability integration, it\u2019s never enough. The most common solution is to handle additional topics in committees or form new or temporary committees. Or add meetings. Whatever the solution, the Chair is key to organizing the work to make it effective.\\xa0\\xa0\"})]}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"em\",{children:\"Successful boards are 11% more likely to run annual board evaluations, 12% better at seeking different points of view, and 15% better at giving directors constructive feedback.\"})}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/t(\"em\",{children:[\"The former Chair at Hilti ensures that board members attend a two-day culture camp each year to discuss upcoming culture initiatives at the company.\\xa0\",/*#__PURE__*/e(\"br\",{})]})}),/*#__PURE__*/e(\"h3\",{children:\"Engage and guide the CEO\"}),/*#__PURE__*/t(\"ul\",{style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"26px\"},children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"to ensure appropriate separation and controls in case of carrying both roles\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"to foster a trusted relationship with open and frequent communication, collecting and providing regular constructive feedback\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"to encourage the CEO and management to be bolder, faster and rethink operating models and foster inclusive and high-performing culture\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"to agree and guide critical performance targets, reporting requirements\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"to suggest CEO development, training and succession planning\"})}),/*#__PURE__*/t(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:[/*#__PURE__*/t(\"p\",{children:[\"to make sure the board agrees on CEO performance and remuneration, and potential actions as a result, including needed hire and fire\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]}),/*#__PURE__*/e(\"img\",{alt:\"\",className:\"framer-image\",height:\"575\",src:\"https://framerusercontent.com/images/p6kPSEZfn4loQsywvZWZKxN8.png\",srcSet:\"https://framerusercontent.com/images/p6kPSEZfn4loQsywvZWZKxN8.png?scale-down-to=1024 779w,https://framerusercontent.com/images/p6kPSEZfn4loQsywvZWZKxN8.png 876w\",style:{aspectRatio:\"876 / 1151\"},width:\"438\"})]})]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"em\",{children:\"The Chair has a challenging role in leading through others. The Chair works a delicate balance in guiding the CEO, without getting too operational or taking over the job. The Chair also needs to consolidate the board\u2019s view and, in an engaging and trustful way, ensure that the CEO becomes as effective as possible.\"}),/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]}),/*#__PURE__*/e(\"h3\",{children:\"Engage with prioritised stakeholders\"}),/*#__PURE__*/t(\"ul\",{style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"26px\"},children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/t(\"p\",{children:[\"to take a \",/*#__PURE__*/e(\"strong\",{children:\"broader ecosystem, value chain, and systemic view\"})]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"so that the board monitors insights from stakeholders such as shareholders, customers, employees, society, partners, and suppliers\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"to engage and communicate with prioritized shareholders and other stakeholders\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"to give exposure to broader management and key employees, concerning appropriate development, and succession planning, including grandfather principle at recruitment\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"to help understand the company\u2019s impact on stakeholders, and vice versa\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"to help balance requirements and value between prioritized stakeholders\"})})]}),/*#__PURE__*/e(\"img\",{alt:\"\",className:\"framer-image\",height:\"401\",src:\"https://framerusercontent.com/images/v6KXfibxGNuhZLcobRuVXyrJ4gY.png\",srcSet:\"https://framerusercontent.com/images/v6KXfibxGNuhZLcobRuVXyrJ4gY.png?scale-down-to=512 512w,https://framerusercontent.com/images/v6KXfibxGNuhZLcobRuVXyrJ4gY.png?scale-down-to=1024 1024w,https://framerusercontent.com/images/v6KXfibxGNuhZLcobRuVXyrJ4gY.png 1200w\",style:{aspectRatio:\"1200 / 802\"},width:\"600\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"em\",{children:\"As societal challenges multiply, the role of the board and business as a force for good has dramatically increased. Historically, the Chair has been highly engaged with shareholders, and that role is now expanding to more stakeholders.\"})}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"em\",{children:\"Paul Bulcke, the Chair of Nestle, has ensured that key stakeholders are represented on the board. For example, when Nestle announced its climate net zero roadmap, the company recruited a professor of food systems to the board.\\xa0\"})}),/*#__PURE__*/e(\"p\",{children:\"In the past, the Chair was chiefly a facilitator in board meetings. Today, Chairs must have a solid understanding of the business and its operations. They must also be able to help (re-)define the company\u2019s vision and strategy and engage with shareholders and other stakeholders. In addition, chairs must be highly skilled in communication, negotiation, and conflict resolution.\"}),/*#__PURE__*/t(\"p\",{children:[\"Sustainability, including climate action, is another essential topic area. The Chair and the board need to understand the issues and recognise which stakeholders are impacted. When exploring the integration of sustainability into strategy, risk and opportunity must be weighed against each other and potential ecosystem collaborations considered. Initiatives must be prioritized so that different stakeholder perspectives are balanced and external commitments shared. Finally, a multi-year plan and the supporting data it needs to progress must be established.\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]}),/*#__PURE__*/e(\"img\",{alt:\"\",className:\"framer-image\",height:\"401\",src:\"https://framerusercontent.com/images/pHr7z86EFy2yCAPjlIBhjD5tiqE.png\",srcSet:\"https://framerusercontent.com/images/pHr7z86EFy2yCAPjlIBhjD5tiqE.png?scale-down-to=512 512w,https://framerusercontent.com/images/pHr7z86EFy2yCAPjlIBhjD5tiqE.png?scale-down-to=1024 1024w,https://framerusercontent.com/images/pHr7z86EFy2yCAPjlIBhjD5tiqE.png 1200w\",style:{aspectRatio:\"1200 / 802\"},width:\"600\"}),/*#__PURE__*/e(\"p\",{children:\"The Chair is responsible for the continued development of the board, its members, and the CEO. Evaluations and constructive feedback are essential tools and board evaluations are typically carried out yearly to various extent. In some jurisdictions, they are mandatory. Many successful Chairs also ask for evaluations at the end of every board meeting to facilitate open discussion and provide an opportunity for more anonymous feedback. The insights are used both for direct action and to promote more effective board work.\\xa0\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"CONCLUSION\"}),/*#__PURE__*/e(\"p\",{children:\"The role of the Chair is critical for business success. A good Chair can provide invaluable insights, help make difficult decisions, and keep the company on track. It is essential to carefully consider who is best suited for the role. A company can achieve great things with the right person in the position.\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/t(\"em\",{children:[\"1.\\xa0\\xa0\\xa0\\xa0 \\xa0\u201C\",/*#__PURE__*/e(\"strong\",{children:\"Board Effectiveness and the Chair of the Future\u201D\"}),\" based on insights from 300 board chairs in 16 countries (Article by Deloitte, July 2022)\\xa0\"]})}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/t(\"em\",{children:[\"2.\\xa0\\xa0\\xa0\\xa0 \u201C\",/*#__PURE__*/e(\"strong\",{children:\"What the world can learn from Nordic\"}),\" boards\u201D based on insights from 300 board chairs, board directors and CEOs in Nordic Countries (Paper by INSEAD, Digoshen and Scandinavian Executive Institute, June 2022)\"]})}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/t(\"em\",{children:[\"3.\\xa0\\xa0\\xa0\\xa0 \\xa0\u201C\",/*#__PURE__*/e(\"strong\",{children:\"Leading a board; Chairs\u2019 practices across Europe\"}),\"\u201D insights from 1195 chairs, board directors and CEOs across Europe (Book by INSEAD, Digoshen and a group of other European INSEAD partners, 2021)\\xa0\"]})}),/*#__PURE__*/t(\"ol\",{start:\"4\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"26px\",\"--framer-text-alignment\":\"left\",\"--framer-text-color\":\"rgb(116, 125, 136)\",\"--framer-text-transform\":\"none\"},children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\"},children:/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/t(\"em\",{children:[\"\u201C\",/*#__PURE__*/e(\"strong\",{children:\"The critical role of the Board Chair in Driving Board Performance\"}),\"\u201D insights from 1100 chairs and board directors from 41 countries (Article by Russel and Reynolds, July 2022)\"]})})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\"},children:/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/t(\"em\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Reinterpreting the role of the board of directors\"}),\" (Deep interview with three chairs by London Business School Aug 2022)\"]})})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\"},children:/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/t(\"em\",{children:[/*#__PURE__*/e(\"strong\",{children:\"The Chairpersons\u2019 guide to a just transition \"}),\"(A guide by Deloitte, World Economic Forum together with Climate Change Initiative, Sep 2022)\"]})})})]})]});export const richText2=/*#__PURE__*/t(o.Fragment,{children:[/*#__PURE__*/e(\"p\",{children:\"What BoardClic has found from working with our partners across a range of industries is that boards work less now. One explanation for this phenomenon could be increased effectiveness in their operations. For example, many chairs delegate procedural matters to their vice chair, freeing them up to tackle their other tasks.\"}),/*#__PURE__*/e(\"p\",{children:\"This article explores how your board can adapt to life after the pandemic and flourish in what is now termed the \u201Cnew normal\u201D.\"}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"How the pandemic influenced boards\"}),/*#__PURE__*/t(\"p\",{children:[\"Paul Anthony of Grant Thornton writes about how the pandemic affected boards and businesses in general. He talks about the speed with which companies were able to make changes in order to ensure operational continuity. But, he says, that meant that \",/*#__PURE__*/e(n,{href:\"https://www.grantthornton.co.uk/insights/assurance-helps-deliver-robust-organisational-change/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"some governance and process factors had to take a back seat\"})}),\".\"]}),/*#__PURE__*/e(\"p\",{children:\"Anthony says \u201Cthe sacrifice in governance created internal tensions. There were many instances where the defined process was not followed, and risk appetite in change delivery was exceeded.\u201D\"}),/*#__PURE__*/t(\"p\",{children:[\"There was a lot for boards to consider as the pandemic took hold. \",/*#__PURE__*/e(n,{href:\"https://fortune.com/2021/11/04/covid-corporate-boards-changes/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"Fortune illustrates some of the drivers of change\"})}),\" that the boardroom had to tackle:\"]}),/*#__PURE__*/t(\"ul\",{style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"26px\",\"--framer-text-alignment\":\"left\",\"--framer-text-color\":\"rgb(116, 125, 136)\",\"--framer-text-transform\":\"none\"},children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"New strategic priorities\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"Remote work\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"Social pressure\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(n,{href:\"https://boardclic.com/board-evaluation/boardclic-launches-esg-maturity-assessment/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"Environmental, social and corporate governance (ESG) matters\"})})})})]}),/*#__PURE__*/t(\"p\",{children:[\"Helena Wayth, CEO of sustainability consultancy A Bird\u2019s Eye View, \",/*#__PURE__*/e(n,{href:\"https://www.weforum.org/agenda/2020/09/resilience-drive-shift-stakeholder-capitalism/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"writing for the World Economic Forum\"})}),\", reports that a majority of board members felt the pandemic would change the roles and responsibilities of corporate boards. She puts that down to three ways in which directors are reconsidering how they work. Her report says these adjustments are:\"]}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"em\",{children:\"\u201CFirst, in the context of oversight and strategy; second, in terms of operational resilience and long-term sustainability of business models; and thirdly, how they can satisfy a broader set of stakeholders and build a more inclusive economy, supporting the shift to stakeholder capitalism.\u201D\"})}),/*#__PURE__*/t(\"p\",{children:[\"In addition, board meetings went either fully virtual or \",/*#__PURE__*/e(n,{href:\"https://boardclic.com/corporate-governance/virtual-board-meetings/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"adopted a hybrid model\"})}),\" to allow directors to distance and join in events whilst isolating or subject to travel restrictions.\"]}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"What makes an effective board of directors?\"}),/*#__PURE__*/e(\"h3\",{children:\"Diversity\"}),/*#__PURE__*/t(\"p\",{children:[\"There has been a particular focus on diversity in terms of ethnicity and gender as a result of the Black Lives Matter movement and \",/*#__PURE__*/e(n,{href:\"https://metoomvmt.org/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"#MeToo\"})}),\", but board diversity extends beyond that. It also encompasses age, skill sets, experiences, background, location and much more.\"]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(n,{href:\"https://www.accaglobal.com/ie/en/student/exam-support-resources/professional-exams-study-resources/strategic-business-leader/technical-articles/diversifying-the-board.html#Definition-of-board-diversity\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"ACCA states that\"})}),\" \u201Cboard diversity aims to cultivate a broad spectrum of demographic attributes and characteristics in the boardroom.\u201D\"]}),/*#__PURE__*/e(\"p\",{children:\"A more diverse board brings more fresh perspectives on tackling problems and creates bold strategies to drive the business forward. That\u2019s why your board composition makes a real difference. BoardClic found that the top 10% best performing boards consistently display a high score in board composition. This makes it imperative that boards understand where they stand on diversity and in which direction they need to move to aid the balance and effectiveness of the board.\"}),/*#__PURE__*/t(\"p\",{children:[\"One of the benefits of businesses \",/*#__PURE__*/e(n,{href:\"https://www.ibabs.com/en/board-meetings/board-meetings-virtual-board-meeting-template/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"embracing virtual meetings\"})}),\" and collaboration in the wake of COVID-19 is that you can cast the net wider to find directors who will fill the gaps in your board composition without having to consider their commuting distance.\"]}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"Independence\"}),/*#__PURE__*/t(\"p\",{children:[\"Although some industry leaders, such as the \",/*#__PURE__*/e(n,{href:\"https://www.cfainstitute.org/en/advocacy/issues/board-independence#sort=%40pubbrowsedate%20descending\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"CFA Institute\"})}),\", advise that boards should have an independent majority, this is far from a universal truth. The optimal proportion of independent board members depends on your business circumstances, where you are in your market life cycle, your niche and other related factors.\"]}),/*#__PURE__*/e(\"p\",{children:\"A board does need members who can avoid conflicts of interest and are not afraid to move away from the received wisdom of the business. At a time of crisis, such as the recent pandemic, being agile and flexible is essential to taking on new challenges and succeeding.\"}),/*#__PURE__*/t(\"p\",{children:[\"Even post-pandemic, the \",/*#__PURE__*/e(n,{href:\"https://boardclic.com/blog/esg-compliance/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"challenges of ESG compliance\"})}),\" and new tech developments require independence of thought to inform strategic decisions that are in the best interests of the company and its investors.\"]}),/*#__PURE__*/e(\"p\",{children:\"However, you must take great care in recruiting independent board members. This involves detailed outlining of roles and requirements and seeking out candidates with sufficient gravitas, as well as the background and personality to suit the company and its board.\"}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"Individual accountability\"}),/*#__PURE__*/e(\"p\",{children:\"One way of delivering independence is to instil the notion of individual accountability in board members. If directors are accountable for their own decisions and actions, they are more likely to challenge the board if they disagree with the business\u2019 direction. By contrast, this is less likely to happen in a culture of collective accountability where it is easier to sit back and stay quiet even if the director disagrees with the majority.\"}),/*#__PURE__*/t(\"h3\",{children:[\"Individual accountability is becoming a regulatory requirement around the world, with legislation mandating companies, particularly in the financial industry, to instigate it. Here are a few examples:\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{}),\"\u2014\u2014-\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{}),\"Long-term vision\"]}),/*#__PURE__*/t(\"p\",{children:[\"FCLTGlobal found that \",/*#__PURE__*/e(n,{href:\"https://corpgov.law.harvard.edu/2019/04/19/the-long-term-habits-of-a-highly-effective-corporate-board/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"companies with a long-term vision\"})}),\" outperform their short-term rivals on both financial and non-financial metrics and with less volatility. This culture can and should be driven by the board of directors.\"]}),/*#__PURE__*/e(\"p\",{children:\"Although many boards tend towards short-termism, often based on the necessity of dealing swiftly with compliance concerns, market drops and activist investors, Ariel Fromer Babcock of FCLTGlobal argues that a long-term vision actually works in the board\u2019s favour.\"}),/*#__PURE__*/e(\"p\",{children:\"She says \u201Cbuilding a strong board with a committed long-term focus can help insulate companies from some of those short-term concerns. For instance, boards with an established record of long-term leadership will find more allies in a fight against activist shareholders and have more credibility when claiming that a dip in earnings is likely to be short-lived.\u201D\"}),/*#__PURE__*/e(\"p\",{children:\"During the COVID-19 pandemic, the boards with a long-term vision were more able to be resilient when faced with the resulting short-term volatility.\"}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"Robust succession planning and onboarding processes\"}),/*#__PURE__*/e(\"p\",{children:\"Succession planning for your leadership roles is essential if you are to facilitate smooth transitions that maintain the momentum of your board and, therefore, the company. The COVID-19 pandemic has created even more urgency for directors to ensure their succession protocols are as robust as possible.\"}),/*#__PURE__*/e(\"p\",{children:\"Coronavirus showed us that the likelihood of directors suddenly not being able to carry out their duties was very real indeed. Had CEOs, board chairs and other senior executives been taken ill or even died in post, those boards that took succession planning seriously would have had an advantage over their peers who did not.\"}),/*#__PURE__*/t(\"p\",{children:[\"Having a strong bench ready to step into your senior roles means that you do not need to worry about how the board will function effectively in times of crisis. And \",/*#__PURE__*/e(n,{href:\"https://boardclic.com/board-management/onboarding-process-for-new-board-members/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"fine-tuning your onboarding processes\"})}),\" to help new board colleagues hit the ground running is a natural extension of this.\"]}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"Regular evaluation\"}),/*#__PURE__*/e(\"p\",{children:\"Of course, you need some way of measuring how your board is performing in these important areas, and that is where regular board evaluations come in.\"}),/*#__PURE__*/e(\"p\",{children:\"Through regular evaluation of your board, you can measure performance against your own benchmarks and those of your peers. It helps you identify skills gaps, create an open and transparent culture, clarify strategic objectives and align the board as a whole with the CEO.\"}),/*#__PURE__*/e(\"p\",{children:\"A board that continually evaluates itself is one that is committed to improving and fine-tuning its functions for the benefit of the company and its stakeholders.\"}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(n,{href:\"https://boardclic.com/products/board-evaluation\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"BoardClic\u2019s Board Evaluation platform\"})}),\" makes this task quick and effortless. Our library of best-practice questionnaires provides a variety of online content to fit every organisation and industry. You can combine it with your interview questions to really get to the heart of evaluations. The easy-to-use dashboard suggests survey questions that are proven to elicit useful responses from directors. BoardClic creates interactive, customisable reports to allow you to visualise the data you capture in a way that helps you take action and make real, positive differences to the way your board works.\"]}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"h2\",{children:\"Challenges to board effectiveness\"}),/*#__PURE__*/e(\"h3\",{children:\"Lack of clarity\"}),/*#__PURE__*/e(\"p\",{children:\"Without clarity over roles within the boardroom and of the board itself, directors can struggle to work effectively. Make sure that board members understand why they are a part of the board and how they can contribute most effectively to a higher board and business performance.\"}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"Poor culture\"}),/*#__PURE__*/t(\"p\",{children:[\"Erik van de Loo, INSEAD Affiliate Professor of Organisational Behaviour, and Jaap Winter, INSEAD Visiting Professor of Corporate Governance, \",/*#__PURE__*/e(n,{href:\"https://knowledge.insead.edu/leadership-organisations/corporate-culture-is-an-alarmingly-low-priority-for-boards-7676\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"wrote that\"})}),\" \u201Cthe importance of having a strong corporate culture has been well documented. From upholding ethics to driving innovation, organisational performance can be very much influenced by cultural aspects, such as values, mission, communication and the prevailing organisational atmosphere.\u201D\"]}),/*#__PURE__*/e(\"p\",{children:\"Failure to devote enough time to developing this positive board culture can be detrimental to the effectiveness of the board.\"}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"Lack of alignment\"}),/*#__PURE__*/e(\"p\",{children:\"To be able to sell a company strategy and work towards goals efficiently, there needs to be aligned within the boardroom on the direction of travel. Without this, board members will be pulling in many different directions, causing the business to lose focus. It is only natural that company performance will drop in such an environment.\"}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"Poor team dynamics\"}),/*#__PURE__*/e(\"p\",{children:\"A corporate board is a team. It may be filled with diverse individuals who take individual accountability, but in order to reach effective decisions, the component parts must be able to work together. The board must be respectful even in disagreement and be able to amicably reach a consensus. This can occur only by creating the right dynamics when recruiting individual board members.\"}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"Lack of training\"}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(n,{href:\"https://asq.org/quality-resources/continuous-improvement#:~:text=Continuous%20improvement%2C%20sometimes%20called%20continual,breakthrough%22%20improvement%20all%20at%20once.\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"Continuous improvement\"})}),\" should be the watchword of effective boards. There is always an advantage to be had in adding new skills and brushing up on existing competencies. A board that doesn\u2019t indulge in training will stand still, and that is not beneficial to the company.\"]}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"h2\",{children:\"FAQs\"}),/*#__PURE__*/e(\"h3\",{children:\"How important are independent directors?\"}),/*#__PURE__*/e(\"p\",{children:\"Having independent directors on the board provides reassurance to investors that there is someone who is able to challenge the potential status quo of the \u201Cinsiders\u201D.\"}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"How often should you evaluate your board?\"}),/*#__PURE__*/e(\"p\",{children:\"An annual board evaluation provides an ideal window in which to monitor effectiveness and make necessary changes in good time. In the event of a major issue such as COVID-19, you might want to evaluate again after the initial storm. This will enable you to check that you are on the right track to emerge from these extraordinary circumstances in the most productive manner possible.\"}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"How can you measure board effectiveness?\"}),/*#__PURE__*/e(\"p\",{children:\"Regardless of the tools and processes you may use, strive to measure board effectiveness with a data-driven approach. This is the most reliable way to know where your board stands.\"}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"h2\",{children:\"Conclusion\"}),/*#__PURE__*/e(\"p\",{children:\"Although COVID-19 provided some stormy times for businesses, it has taught us a number of lessons that we can take forward. The pandemic may well have shifted the traditional definition of what makes an effective board of directors, but it has also given us the tools we need to improve and develop boards so that they are prepared for other extraordinary occurrences in the future.\"})]});export const richText3=/*#__PURE__*/t(o.Fragment,{children:[/*#__PURE__*/t(\"p\",{children:[\"The second seed funding round, which was oversubscribed, was led by \",/*#__PURE__*/e(\"strong\",{children:\"Subvenio, Curitas Ventures \"}),\"and\",/*#__PURE__*/e(\"strong\",{children:\" Brofund Equity.\"}),\" This latest investment means BoardClic has raised \u20AC\",/*#__PURE__*/e(\"strong\",{children:\"3.6 million\"}),\" to date.\"]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Monica Lagercrantz, Co-founder and CEO of Boarclic, \"}),\"said: \",/*#__PURE__*/e(\"em\",{children:\"\u201CBusinesses must now follow an ever increasing amount of corporate codes and regulations. This, in turn, means that global organisations must maintain exceptional stakeholder engagement and corporate governance structure, in order to maintain high governance standards. The modern boardroom is increasingly dynamic, and tasked with a growing and complex responsibility. The market lacks sophisticated, data-driven, cost-efficient tools to track compliance, effectiveness, and alignment in boards and the C-suite. BoardClic, promoting the G in ESG, fills that void.\u201D\"})]}),/*#__PURE__*/e(\"p\",{children:\"BoardClic\u2019s tech-led solution provides a library of best practice formats and benchmarking that let customers conduct advanced digital evaluations that are time and cost-efficient and meet local regulations. By continuously measuring and analysing data, customers can compare and evaluate their results both internally over time as well as against relevant external companies and sectors.\"}),/*#__PURE__*/e(\"p\",{children:\"Since the platform first launched in 2019, BoardClic has built an impressive customer portfolio consisting of around 250 customers, including Channel 4, Tele2, HGCapital Trust, and Husqvarna, and the company has experienced an average year-on-year growth of 200%. The product is sold via a subscription-based model, giving the customer and its users unlimited access to the product.\"}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Mikael Ahlstr\\xf6m, Chairman\"}),\" of \",/*#__PURE__*/e(\"strong\",{children:\"Curitas Ventures, \"}),\"said of their investment in BoardClic: \",/*#__PURE__*/e(\"em\",{children:\"\u201CThe progress that BoardClic has made to date, in helping a wide array of companies across Europe to improve and streamline their processes at board and management team levels, has been impressive.\"})]}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/t(\"em\",{children:[\"\u201CGiven BoardClic\u2019s vision of leveraging digitalisation and relevant data to create real tangible value for boardrooms, and its commitment to ESG, our decision to join forces with them was a natural one. We\\xa0 look forward to supporting the team throughout the next stage of its growth, expanding into new markets and reaching new heights.\u201D\",/*#__PURE__*/e(\"br\",{})]})}),/*#__PURE__*/e(\"h3\",{children:\"About BoardClic\"}),/*#__PURE__*/e(\"p\",{children:\"BoardClic is a SaaS company with a market-leading product that provides unrivalled benchmarking and qualitative insights on performance and transparency to align board and management teams. The company\u2019s proprietary technology, enjoyed by some 250 customers across the world, is designed to help companies achieve board and management team excellence. The company was founded by Monica Lagercrantz and Malin Lombardi and is headquartered in Stockholm with a local office in London.\"})]});export const richText4=/*#__PURE__*/t(o.Fragment,{children:[/*#__PURE__*/e(\"p\",{children:\"In its citation, the panel acknowledged H\\xe4gertz Engstam\u2019s outstanding commitment to increase diversity and operationalize ESG in all her roles.\"}),/*#__PURE__*/e(\"p\",{children:\"\u201CAs a recipient of the ESG, Diversity & Climate Trailblazer category, our panel of expert judges have recognized your outstanding work to put initiatives in place to measure and report on ESG in a meaningful way, helping organizations to do better and to hold them to account to stakeholders, communities and the planet.\u201D\"}),/*#__PURE__*/e(\"p\",{children:\"BoardClic wholeheartedly believes that progress in governance, risk, and compliance (GRC) is a prerequisite to be a more innovative, dynamic, and successful company and is proud to have a champion of inclusion, diversity and sustainability at our board.\"}),/*#__PURE__*/t(\"p\",{children:[\"\u201DI am truly honored to be recognized among many ambitious governance leaders and grateful to all board colleagues and employees joining me on this ambitious journey. Proud that we creatively continue to increase value creation for our organizations, the planet, and our future.\u201D says \",/*#__PURE__*/e(\"strong\",{children:\"H\\xe4gertz Engstam\"}),\".\"]}),/*#__PURE__*/e(\"p\",{children:\"H\\xe4gertz Engstam is chairwomen and founder of Boards Impact Forum, the Nordic Chapter of the Climate Governance Initiative in collaboration with the World Economic Forum. She is also an author, and the founder of Digoshen, which facilitates academic research and enables global board network exchanges.\"}),/*#__PURE__*/e(\"p\",{children:\"Facilitated by SaaS Governance Risk and Compliance provider Diligent, the Modern Governance 100 recognizes ESG and GRC leaders for exemplifying purpose-driven transformation. H\\xe4gertz Engstam\u2019s engagements include her role as board member at BoardClic and independent directorships at listed and private companies in several countries.\"}),/*#__PURE__*/t(\"p\",{children:[\"\u201CAll colleagues at BoardClic offer our warmest congratulations to Liselotte. ESG, Diversity, and Climate are megatrends in governance and vital when developing modern, sustainable companies. BoardClic\u2019s platform is designed to support this and I am proud that Liselotte is at our board. Her international ESG efforts and knowledge are an inspiration to all of us,\u201D says \",/*#__PURE__*/e(\"strong\",{children:\"Monica Lagercrantz, CEO and founder, BoardClic.\"})]}),/*#__PURE__*/e(\"p\",{children:\"BoardClic\u2019s vision is a sustainable future for people, business and society. Over the past decade, ESG has become increasingly important in the financial services industry, not only to comply with increasing regulation, but as a means to promote more sustainable alternatives when, for instance, making investment decisions. BoardClic supports clients to build governance models and risk measurement systems that really tackle ESG perspectives.\"}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"h4\",{children:\"About BoardClic\"}),/*#__PURE__*/e(\"p\",{children:\"BoardClic is a SaaS company with a market-leading product that provides unrivalled benchmarking and qualitative insights on performance and transparency to align board and management teams. The company\u2019s proprietary technology, enjoyed by around 250 customers across the world, is designed to help companies achieve board and management team excellence. The company was founded by Monica Lagercrantz and Malin Lombardi and is headquartered in Stockholm with a local office in London.\"})]});export const richText5=/*#__PURE__*/t(o.Fragment,{children:[/*#__PURE__*/e(\"p\",{children:\"Here are a few examples of how ESG-related risks have impacted companies around the world:\"}),/*#__PURE__*/t(\"ul\",{style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"26px\",\"--framer-text-alignment\":\"left\",\"--framer-text-color\":\"rgb(116, 125, 136)\",\"--framer-text-transform\":\"none\"},children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Environmental:\"}),\" Pacific Gas and Electric (PG&E) declared bankruptcy after it was found that the company\u2019s faulty equipment, combined with drought conditions related to climate change, had caused two wildfires in California within the space of two years, killing more than 80 people and destroying properties. It has been termed the \u201C\",/*#__PURE__*/e(n,{href:\"https://www.energypolicy.columbia.edu/research/report/pge-market-and-policy-perspectives-first-climate-change-bankruptcy\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"first climate change bankruptcy\"})}),\"\u201D.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Social:\"}),\" In February 2017, Susan Fowler\",/*#__PURE__*/e(n,{href:\"https://www.theverge.com/2020/2/19/21142081/susan-fowler-uber-whistleblower-interview-silicon-valley-discrimination-harassment\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\" wrote a blog post\"})}),\" about the engrained sexism and sexual harassment within Uber. The post went viral and led to CEO and founder Travis Kalanick being forced out of his job.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Corporate governance:\"}),\" Fashion retailer Boohoo was found to be lacking in internal controls with an inadequate\",/*#__PURE__*/e(n,{href:\"https://bhcsecretaries.co.uk/blog/boohoo-corporate-governance-failure/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\" corporate governance framework\"})}),\" and poor leadership ethics. The company was found to have allowed third-party suppliers to pay less than the minimum wage to workers. These governance issues have led to a major restructuring of the business.\"]})})]}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"How ESG impacts business reputation\"}),/*#__PURE__*/t(\"p\",{children:[\"McKinsey states that a\",/*#__PURE__*/e(n,{href:\"https://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/five-ways-that-esg-creates-value\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\" well-positioned ESG strategy\"})}),\" \u201Clinks to higher value creation\u201D. The numbers bear this out. \",/*#__PURE__*/e(n,{href:\"https://www.morningstar.co.uk/uk/news/211923/sustainable-fund-flows-hit-new-record.aspx\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"Sustainable funds attracted all-time high inflows of \u20AC120 billion in the first quarter of 2021\"})}),\". This is 18% higher than in the previous quarter and represents more than half of overall European fund flows.\"]}),/*#__PURE__*/e(\"p\",{children:\"One of the reasons for this is that investors are no longer just looking for the funds that bring the biggest return. They are looking for companies that understand the risks of failing to address environmental, social and governance concerns; companies that are taking steps to operate more sustainably and responsibly to not only avoid these risks but to flourish in the future.\"}),/*#__PURE__*/t(\"p\",{children:[\"ESG concerns are at the forefront of the minds of investors, with pressing topics like the climate crisis and diversity and inclusion in the workplace often leading the news agenda. Consumers have also awakened to the idea \u2014 81% of people\",/*#__PURE__*/e(n,{href:\"https://www.strategy-business.com/article/The-rise-of-the-eco-friendly-consumer\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\" expect companies to be environmentally conscious\"})}),\" in their advertising and communications. This means that anything you can do to promote the ways in which you are advancing your ESG efforts will impact your business reputation positively.\"]}),/*#__PURE__*/e(\"p\",{children:\"And you not only have to do it, but you also have to report it. Not only because for most companies, but also because people should know you are taking this area of the business seriously. This is why investor relations officers (IROs) should highlight their ESG successes and future plans at the half-year review.\"}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"What is ESG communication?\"}),/*#__PURE__*/e(\"p\",{children:\"ESG communication is the sum of all sustainability-related messages that you broadcast, through earnings reports, half-year reviews, press releases, social media posts, blogs and any other mediums. It informs people about the ESG-related policies and practices you have in place.\"}),/*#__PURE__*/e(\"p\",{children:\"This should be a cornerstone of your investor relations strategy, keeping shareholders and potential shareholders informed of your progress and future plans in all areas of ESG. Through their comms, there is a real opportunity for companies to show they are serious about integrating ESG in their business strategy.\"}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"7 Best practices to strengthen your ESG communications\"}),/*#__PURE__*/e(\"h3\",{children:\"1. Define your purpose\"}),/*#__PURE__*/t(\"p\",{children:[\"In his recent letter to CEOs, Larry Fink of BlackRock spoke of the importance of defining a purpose for issuers, and this links to the company\u2019s approach to ESG.\",/*#__PURE__*/e(n,{href:\"https://www.blackrock.com/corporate/investor-relations/larry-fink-ceo-letter\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\" As Fink says\"})}),\",\"]}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"em\",{children:\"\u201C[stakeholders] don\u2019t want to hear us, as CEOs, opine on every issue of the day, but they do need to know where we stand on the societal issues intrinsic to our companies\u2019 long-term success\u201D.\\xa0\"})}),/*#__PURE__*/t(\"p\",{children:[\"Businesses must navigate ESG topics in order to thrive in a world where scrutiny is ever more intense. The focus on the\",/*#__PURE__*/e(n,{href:\"https://www.un.org/en/un75/climate-crisis-race-we-can-win\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\" climate crisis\"})}),\", for example, is only going to intensify in the coming years as leaders look to meet the tough targets set by the Paris Agreement.\"]}),/*#__PURE__*/e(\"p\",{children:\"It is not enough to set a vague goal of being more environmentally friendly; you need to be specific. You must make it your purpose to drive down the amount of carbon your company consumes, for instance. By developing a strong, clear purpose, it is easier to communicate your message and you can more easily make a real, measurable difference going forward. It is a chance to really highlight your business values.\"}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"2. Create a compelling narrative\"}),/*#__PURE__*/t(\"p\",{children:[\"Storytelling is a universal human experience. It has existed in all civilisations, and some believe that it developed\",/*#__PURE__*/e(n,{href:\"https://www.nationalgeographic.org/encyclopedia/storytelling/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\" soon after language came into existence\"})}),\". People respond favourably to information delivered within a compelling narrative, and this is why you should communicate your ESG report in a way that tells a story. For your half-year review, take the audience on a journey with you and engage them with this effective communication technique.\"]}),/*#__PURE__*/e(\"p\",{children:\"Explain what ESG means to your company, why it is important for you to meet your goals and how it will improve the business in general. At a time when many issuers are all trying to boast about their ESG credentials, creating your own story gives you a unique voice amongst the noise, setting you apart from the others.\"}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"3. Let your leaders do the talking\"}),/*#__PURE__*/t(\"p\",{children:[\"Initiative on all matters relating to ESG needs to come from the top of the organisation if you are to develop a truly\",/*#__PURE__*/e(n,{href:\"https://www.greenbiz.com/article/5-ways-create-strong-sustainability-culture\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\" sustainable culture\"})}),\". If leaders are not seen to set the right example, it can have a domino effect across the organisation. This is why having your leaders present the ESG story at your half-year review is a powerful move. It shows your stakeholders that they are navigating the organisation and its culture to a sustainable future.\"]}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"4. Embrace end-to-end transparency\"}),/*#__PURE__*/t(\"p\",{children:[\"One of the concerns with so many businesses battling for responsible investment is that there will be a proportion of them who overstate their sustainability achievements. \",/*#__PURE__*/e(n,{href:\"https://www.independent.co.uk/climate-change/news/un-greenwashing-net-zero-2050-b2061459.html\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"Greenwashing\"})}),\", where organisations misrepresent how environmentally friendly they actually are, is perceived as a risk for investors who want to make sure they work with companies that are truly committed to ESG.\"]}),/*#__PURE__*/e(\"p\",{children:\"To counter these worries, you should be transparent in reporting ESG efforts. Show those witnessing your half-year review how you have adjusted your systems and strategies to embrace ethical and sustainable practices.\"}),/*#__PURE__*/e(\"p\",{children:\"The review should also provide detail on those efforts that have not paid off, along with information on how you intend to rectify situations where you have fallen short of expectations. This fosters trust that you have the right intentions and that you are working hard to achieve the desired effect.\"}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"5. Make sure you practise what you preach\"}),/*#__PURE__*/t(\"p\",{children:[\"It is very easy to send out platitudes in your external communications, but you have to back that up internally. A\",/*#__PURE__*/e(n,{href:\"https://www.independent.co.uk/life-style/women/gender-pay-gap-international-womens-day-twitter-b2048419.html\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\" Twitter bot was set up\"})}),\" ahead of International Women\u2019s Day in 2021 to call out companies tweeting in celebration of the day, but still pay women considerably less than men within their organisation.\"]}),/*#__PURE__*/e(\"p\",{children:\"Before you can own sustainability in your communications and reports, you need to ensure that your internal practices align with that image. If not, you can be seen as hypocritical and it could damage trust in your brand.\"}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"6. Centralise your ESG content\"}),/*#__PURE__*/e(\"p\",{children:\"If you want to promote your ESG credentials effectively, you should collate all the information you have in one easy-to-find place. Creating a section of your website to host reports, results, press releases, press coverage, specially made videos and more allows your external stakeholders to browse through and find the details behind your headlines. Point your audience to this resource for further information.\"}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"7. Measure your impact\"}),/*#__PURE__*/e(\"p\",{children:\"You should make sure that you are moving in the right direction with your ESG policies and report this impact and progress in your half-year review. By showing growth in your ESG efforts, you can prove your impact in your communications to stakeholders.\"}),/*#__PURE__*/t(\"p\",{children:[\"Using BoardClic\u2019s\",/*#__PURE__*/e(n,{href:\"https://boardclic.com/products/esg-maturity-assessment\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\" ESG Maturity Assessment\"})}),\", you can produce a quick and easy ESG assessment that tells you where you are and where you should focus your efforts in the future to further improve your impact.\"]}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"FAQs\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"strong\",{children:\"What are the most important ESG metrics?\"})}),/*#__PURE__*/e(\"p\",{children:\"As a priority, you should make sure you concentrate on carbon reduction and energy efficiency relating to climate risk. With governments instigating climate targets, these will be the most important metrics for helping to achieve impactful results. Social issues like diversity and inclusion, as well as pay equality, are important ESG metrics, as is safety at work. In addition, diversifying the composition of your board of directors should be a priority, ensuring that you have a rounded selection of experiences, achievements and skills on board.\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"strong\",{children:\"How does ESG reporting tie in with financial reporting?\"})}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(n,{href:\"https://www.accenture.com/us-en/insights/strategy/measuring-sustainability-creating-value?c=acn_glb_sustainablemeasmediarelations_12791530&n=mrl_0122\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"Accenture reports\"})}),\" that \u201Cthe ability of companies to raise capital will increasingly be tied to sustainability objectives\u201D, showing that ESG and financial reporting are intertwined already. In addition, the mandatory reporting requirements mean that \",/*#__PURE__*/e(n,{href:\"https://boardclic.com/blog/esg-reporting-frameworks/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"ESG reports\"})}),\" will require the same level of oversight as financial reports.\"]}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"strong\",{children:\"What are material issues?\"})}),/*#__PURE__*/e(\"p\",{children:\"Material issues are those issues that have the greatest impact on an organisation and the way it creates long-term value. ESG concerns are becoming more important as material issues that companies must account for in order to flourish.\"}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"Conclusion\"}),/*#__PURE__*/e(\"p\",{children:\"It is important to create a story in your ESG communication and to back it up with real substance. Shareholders want issuers to walk the walk as much as they talk the talk. In your half-year review, you must engage your audience, be transparent, show that there is a top-down culture of sustainability and prove that you are focused on continuous improvement of your sustainability efforts.\"}),/*#__PURE__*/t(\"p\",{children:[\"An ESG Maturity Assessment is a cost-effective way of assessing where you are in your ESG story, where you need to improve, how aligned you are within the company on ESG issues and how you can uncover the areas with the greatest potential. These results can then inform how you frame your ESG achievements in your communications strategy.\",/*#__PURE__*/e(n,{href:\"https://boardclic.com/demo-request/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\" Request a free demo\"})}),\" for your business today\"]})]});export const richText6=/*#__PURE__*/t(o.Fragment,{children:[/*#__PURE__*/e(\"p\",{children:\"This however is no longer the case and without strong ESG credentials companies risk sanction from regulators and policymakers; will struggle to recruit and retain the brightest and the best staff; risk higher cost of credit; are at risk from activists and public boycotts of services and products and will even find themselves at a disadvantage when it comes to something as seemingly unrelated to ESG as raising capital.\"}),/*#__PURE__*/e(\"p\",{children:\"The modern reality is that all stakeholder concerns must be taken seriously, whether they stem from members of staff, regulators, legislators and government, or the public. Mapping these concerns against the impact they have on the business is the key that can unlock and align all these very disparate interests.\"}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"ESG Maturity assessment by BoardClic - How does it work?\"}),/*#__PURE__*/e(\"p\",{children:\"At BoardClic we have seen a corresponding increase in demand from our clients to understand how their Board and leadership teams are dealing with their individual ESG challenges. Pressure is rising, from regulators, lawmakers, as well as customers, partners, employees, and investors, which is why we have created our new ESG Maturity Assessment within the existing BoardClic platform. It gives clients a quick and effective way to assess the maturity and alignment on ESG with their Board and C-suite team, as well as helping to future proof ESG governance.\"}),/*#__PURE__*/e(\"p\",{children:\"The new tool has been developed for boards to evaluate their common view of their company\u2019s sustainability work in the areas that are considered (by our experts) to be the basis for good ESG practice. The aim of the module is to quickly evaluate the level of ESG maturity and consensus, and then identify areas in need of development at board level. As a result of this exploration companies will be able to see discrepancies and deviations on ESG understanding between the board, management, and/or other stakeholder groups.\"}),/*#__PURE__*/e(\"p\",{children:\"To begin with, all companies in all sectors and of all sizes will be evaluated against the same baseline, with the data generated being used to develop a sustainability index for boards, allowing them a better view of which areas they are strong, and where they need to invest resources to develop on ESG issues.\"}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"What value ESG Maturity will bring to BoardClic clients?\"}),/*#__PURE__*/e(\"p\",{children:\"The ESG Maturity Assessment will cover the six areas that our in-house ESG expert Camilla Backstr\\xf6m considers the most essential in a modern company. The questions in the Assessment is based on key ESG frameworks as well as years of practical experience \u2013 the categories in our ESG Assessment are:\\xa0\"}),/*#__PURE__*/t(\"ol\",{style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"26px\",\"--framer-text-alignment\":\"left\",\"--framer-text-color\":\"rgb(116, 125, 136)\",\"--framer-text-transform\":\"none\"},children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\"},children:/*#__PURE__*/e(\"p\",{children:\"Purpose and governance\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\"},children:/*#__PURE__*/e(\"p\",{children:\"Materiality & Stakeholder engagement\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\"},children:/*#__PURE__*/e(\"p\",{children:\"Environment\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\"},children:/*#__PURE__*/e(\"p\",{children:\"Climate governance\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\"},children:/*#__PURE__*/e(\"p\",{children:\"Social, diversity and inclusion\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\"},children:/*#__PURE__*/e(\"p\",{children:\"Governance\"})})]}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"ESG is an area that is developing incredibly fast. The questions in the BoardClic ESG Assessment may therefore change over time to cover new categories and relevant topics.\"}),/*#__PURE__*/e(\"p\",{children:\"ESG Maturity is designed to inspire action and commitment and is primarily aimed at board members and chairs but can also help CEOs and senior executives to map aspects of the company\u2019s strategic ESG maturity and blind spots. Internal sustainability experts can also benefit from this evaluation.\"}),/*#__PURE__*/e(\"p\",{children:\"The major benefit for companies that are interested in improving and consolidating their expertise on ESG is in aiding their long-term sustainability, perhaps even survival, by giving boards the ability to verify their view of a company\u2019s sustainability work and identify strengths and weaknesses. It\u2019s all very well to believe you have things right, however ESG Maturity gives boards the opportunity to get a more objective, data-driven view of how a company is performing on ESG.\"}),/*#__PURE__*/e(\"p\",{children:\"Another benefit of an ESG Maturity Assessment comes when there are fragmented views within a board. In such a situation the results from an evaluation become a tool to create and improve alignment throughout a board. The findings from an evaluation also enable individual members to set goals to develop their understanding of sustainability, making them better able to steer their company in the right direction. They will also be able to use evaluations to compare their organisation with similar companies.\"}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"Why is having a strong well aligned position on ESG more important now than ever before?\"}),/*#__PURE__*/e(\"p\",{children:\"The biggest motivation today for developing ESG Maturity is that in almost every aspect of modern corporate life companies with a robust ESG strategy are commercially more successful. They also have better access to talent, are more popular with customers, and come into less conflict with regulators, legislators, and other official bodies.\"}),/*#__PURE__*/e(\"p\",{children:\"Already, regulatory requirements on ESG compliance for different types of listed companies in various regions are increasingly being codified, thus requiring boards to make greater efforts to show they are serious about ESG and prepared to be transparent. Demands on asset managers are also increasing with increased emphasis on green taxonomy.\"}),/*#__PURE__*/e(\"p\",{children:\"However, the most important thing is not the regulation itself, but the increasing demand from customers, business partners and staff for companies to demonstrate their understanding of their most relevant ESG topics and how they are managed. In the past ESG has been treated with low priority, and one of the reasons for this is that boards often say they don\u2019t feel qualified or competent to tackle the issues it throws up.\"}),/*#__PURE__*/e(\"p\",{children:\"BoardClic ESG Maturity evaluation is an effective way for boards to quickly get started with this vital work in a smart and cost-effective way.\"})]});export const richText7=/*#__PURE__*/t(o.Fragment,{children:[/*#__PURE__*/e(\"p\",{children:\"The time has come for boards to take ownership of their organisations\u2019 ESG agenda. The point being that in a rapidly changing world with an increasing number of interconnected challenges, the role of business and finance in society is changing as well. We have moved from a one-dimensional focus on financial targets to a more multifaceted approach.\"}),/*#__PURE__*/t(\"p\",{children:[\"In fact, most business leaders are already experiencing the increasing demand for proof that companies are doing more, more than just delivering financial returns and being compliant with laws and regulations. Instead, the sign of a successful company today is to have a clear purpose and a strategy that illustrates its contribution to society.\\xa0 It is also clear that it is good for the business. \",/*#__PURE__*/e(n,{href:\"https://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/five-ways-that-esg-creates-value\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"McKinsey\"})}),\" summarises the business value creation of ESG into five concrete areas:\"]}),/*#__PURE__*/t(\"ol\",{style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"26px\",\"--framer-text-alignment\":\"left\",\"--framer-text-color\":\"rgb(116, 125, 136)\",\"--framer-text-transform\":\"none\"},children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\"},children:/*#__PURE__*/e(\"p\",{children:\"facilitating top-line growth\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\"},children:/*#__PURE__*/e(\"p\",{children:\"cost reductions\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\"},children:/*#__PURE__*/e(\"p\",{children:\"minimising regulatory and legal interventions\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\"},children:/*#__PURE__*/e(\"p\",{children:\"increasing employee productivity\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\"},children:/*#__PURE__*/e(\"p\",{children:\"optimising investment and capital expenditures.\"})})]}),/*#__PURE__*/e(\"p\",{children:\"A concrete example is climate change and the risks following this. These are risks that if managed and mitigated correctly will have a direct impact on the company bottom line. Some illustrative examples of climate change related risks are:\"}),/*#__PURE__*/t(\"ul\",{style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"26px\",\"--framer-text-alignment\":\"left\",\"--framer-text-color\":\"rgb(116, 125, 136)\",\"--framer-text-transform\":\"none\"},children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"regulatory risks (ex. new legislation or carbon pricing)\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"physical risks (ex. extreme weather events)\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"technological risks (ex. electrification)\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"social risk (ex. unemployment due to shifting away from carbon)\"})})]}),/*#__PURE__*/e(\"p\",{children:\"This is merely one area within ESG that is putting increased pressure on boards to show that these risks are understood and managed.\\xa0 For sure, many are long-term issues, but the board needs to understand and take leadership for both the short-term and long-term horizons in this context.\"}),/*#__PURE__*/e(\"h3\",{children:\"How to navigate in a landscape of uncertainty\"}),/*#__PURE__*/e(\"p\",{children:\"The increased focus on how businesses can, and are expected to, not only manage new types of risks, but also care about societal challenges has moved regulators and other stakeholders to put rising pressure on both financial markets and businesses to incorporate ESG (environment, social and governance) considerations into the regular business agenda and processes.\"}),/*#__PURE__*/e(\"p\",{children:\"The European Commission is driving this topic with a firm hand through their \u201CAction plan on financing sustainable growth\u201D launched in 2018. In fact, we have many reporting requirements, standards, and frameworks to adhere to. To name a few \u2013 IFRS, The green taxonomy, TCFD, CDP, SDG 2030, CSRD, GRI and many more. On top of these there are an increasing number of sustainability rating agencies that the financial markets and creditors rely upon.\"}),/*#__PURE__*/e(\"p\",{children:\"There is a plethora of terminology and acronyms making many business leaders frustrated that valuable time is being taken away from driving the business forward.\\xa0 Many are looking for a turnkey solution to manage the ESG topics, but the truth is that the board needs to learn how to navigate this uncertain landscape without a compass.\"}),/*#__PURE__*/e(\"p\",{children:\"The best advice here is to focus less on the terminology, the frameworks, and the reporting. Instead, look at the substance of your business strategy, the outcome of your stakeholder dialogues and your materiality analysis. The packaging and communication of your ESG efforts will then be perceived as authentic and trustworthy.\"}),/*#__PURE__*/e(\"h3\",{children:\"Where to begin with ESG in the boardroom?\"}),/*#__PURE__*/e(\"p\",{children:\"Indeed, sustainability is a broad area covering most parts of the business and therefore many find it challenging to bring the subject into the boardroom agenda. However, by taking ownership the board will improve the likelihood that the ESG strategy and priorities are relevant to the business and thereby secure successful implementation.\\xa0 In fact, businesses that embed stakeholder value and ESG topics increase their resilience by improving their ability to transform with changes in society.\"}),/*#__PURE__*/e(\"p\",{children:\"The best advice is to do your homework. A good first step is to convene a working group among senior management and board members to conduct a proper examination across the organisation evaluating where you stand today. This will provide the foundation for a productive conversation on where you want to be.\"}),/*#__PURE__*/e(\"p\",{children:\"A proper peer analysis to assess what the peers are doing is also a good input to the conversation. Engage with your different stakeholder groups \u2013 investors, customers, employees, regulators, analysts, suppliers, and society \u2013 to understand their view on what they deem to be the most material ESG topics for your company and industry to focus on.\"}),/*#__PURE__*/e(\"p\",{children:\"Now the board can assess which topics are most business-critical and at the same time most important for your stakeholders. With this in place, you have the right conditions for a successful board ownership of the ESG agenda and the foundation for a successful delivery.\"}),/*#__PURE__*/t(\"p\",{children:[\"In today\u2019s world, forward thinking boards must make sure that the company has a structured ESG strategy with the top team working towards the same goal. The BoardClic \",/*#__PURE__*/e(n,{href:\"https://boardclic.com/products/esg-maturity-assessment\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"ESG Maturity Assessment\"})}),\" allows boards to identify ESG strengths and weaknesses, increase alignment regarding ESG efforts and pave the way towards sustainable growth and progressive business opportunities.\"]}),/*#__PURE__*/t(\"p\",{children:[\"Would you like an introduction to our ESG Maturity Assessment and learn how it can help take your ESG governance to the next level? \",/*#__PURE__*/e(n,{href:\"https://boardclic.com/demo-request\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"Book a personal demo here\"})}),\".\"]})]});export const richText8=/*#__PURE__*/t(o.Fragment,{children:[/*#__PURE__*/e(\"p\",{children:\"Any modern operation, charities included, must mirror its stakeholder values. In recent years Environmental, Social and Governance (ESG) strategies and practices have become an important factor in evaluating the merits and credentials of commercial businesses. To the point where ESG evaluations now have a huge bearing on a company\u2019s ability to attract the investment and consumer acceptance it needs to survive and grow. To be successful in this new world, an organisation must figure out which issues are important to its stakeholders and actively take steps to improve its performance in these areas and make its achievements publicly known.\"}),/*#__PURE__*/e(\"p\",{children:\"Are non-profits subject to the same ESG scrutiny as businesses?\"}),/*#__PURE__*/t(\"p\",{children:[\"Read our guest article for \",/*#__PURE__*/e(n,{href:\"https://www.acevo.org.uk/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"Acevo\"})}),\" here:\\xa0\",/*#__PURE__*/e(n,{href:\"https://www.acevo.org.uk/2022/04/do-charities-need-to-think-about-esg/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"https://www.acevo.org.uk/2022/04/do-charities-need-to-think-about-esg/\"})})]})]});export const richText9=/*#__PURE__*/e(o.Fragment,{children:/*#__PURE__*/e(\"div\",{className:\"framer-text-module\",style:{\"--aspect-ratio\":\"560 / 315\",aspectRatio:\"560 / 315\",height:\"auto\",width:\"100%\"},children:/*#__PURE__*/e(a,{componentIdentifier:\"module:NEd4VmDdsxM3StIUbddO/bZxrMUxBPAhoXlARkK9C/YouTube.js:Youtube\",children:t=>/*#__PURE__*/e(i,{...t,play:\"Off\",shouldMute:!0,thumbnail:\"Medium Quality\",url:\"https://youtu.be/6xoYYwjn2RA\"})})})});export const richText10=/*#__PURE__*/t(o.Fragment,{children:[/*#__PURE__*/e(\"p\",{children:\"The article is in Swedish and addresses the difficulty of succeeding in recruiting the right top managers and board members. The demands from employees and the huge need for talent results in completely new challenges for companies and managers today.\"}),/*#__PURE__*/e(\"p\",{children:\"The companies need to adapt to their employees, and not the other way around, Monica says.\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(n,{href:\"https://www.breakit.se/artikel/31712/monica-lagercrantz-om-skiftet-pa-arbetsmarknaden-bolag-far-anpassa-sig-efter-medarbetaren-inte-tvartom\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"Read the full article here\"})})})]});export const richText11=/*#__PURE__*/t(o.Fragment,{children:[/*#__PURE__*/t(\"p\",{children:[\"Board effectiveness and governance concerns can seem like a time-consuming distraction when what charities really want is to be delivering for people on the ground. But as the \",/*#__PURE__*/e(n,{href:\"https://www.charitygovernancecode.org/en/front-page\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"Charity Governance Code\"})}),\" states \u201CThe board has a key impact on whether a charity thrives.\u201D\"]}),/*#__PURE__*/e(\"p\",{children:\"Understanding what an effective charity board looks like and how to measure it is vital to ensuring that, in the end, the charity is making a positive impact in society.\"}),/*#__PURE__*/t(\"p\",{children:[\"In this article om the \",/*#__PURE__*/e(n,{href:\"https://www.acevo.org.uk/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"ACEVO\"})}),\" blog, you\u2019ll learn about the 4 most important steps to effective board work in a charity organisation.\"]}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(n,{href:\"https://www.acevo.org.uk/2021/11/why-does-board-effectiveness-matter-and-how-do-you-measure-it/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"https://www.acevo.org.uk/2021/11/why-does-board-effectiveness-matter-and-how-do-you-measure-it/\"})})})]});export const richText12=/*#__PURE__*/t(o.Fragment,{children:[/*#__PURE__*/t(\"p\",{children:[\"The cobbler\u2019s children always go barefoot.\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{}),\"This age-old proverb tells us a story about an ambitious shoemaker that, in his quest to sell shoes and attain satisfied customers, completely forgot to put shoes on the feet of his own family.\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{}),\"We have had an amazing 2021 as we tripled our team in size and quadrupled the amount of BoardClic customers. To prepare for the next step in our growth journey, we are pleased to welcome three new board members: Thomas Falck, Liselotte H\\xe4gertz Engstam, and Christoffer Hartung.\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/t(\"strong\",{children:[\"Thomas Falck\",/*#__PURE__*/e(\"br\",{})]}),\"Thomas served as CFO at Cognite until September 2021, and works as a professional board member and investor in various SaaS based growth companies. He has previously been CEO of Q Free ASA and Visma Marine ASA as well as Group Partner in Verdane Capital. In addition, he has long experience from the navy, and extensive board experience from listed, private and government held companies. Falck holds an MBA from Darden School of Business at the University of Virginia and education from Royal Norwegian Naval Academy.\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/t(\"strong\",{children:[\"Liselotte H\\xe4gertz Engstam\",/*#__PURE__*/e(\"br\",{})]}),\"Liselotte has a background from international leadership positions in the technology & services industry. She serves as Chair and Non-Executive Director at three listed and two private companies, and an academic foundation. She also serves as board member at World Economic Forums Climate Governance Initiative and Chair at the Nordic Chapter Boards Impact Forum. As founder of a think tank hosting board networks, teaching boards, performing academic research, she advices boards, is a co-author of the books \u201CLeading a Board \u2013 Chairs\u2019 practices across Europe\u201D and \u201CAI Leadership for Boards\u201D, and was appointed one of top 100 globally in Modern Corporate Governance. Liselotte has a Master of Science in Engineering and Sustainability, she is certified international board director IDP-C from INSEAD, and is a Fellow at the Institute of Coaching, Harvard Medical School.\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/t(\"strong\",{children:[\"Christoffer Hartung\",/*#__PURE__*/e(\"br\",{})]}),\"Christoffer founded the tech company Centsoft in 2006 where he also worked as a CEO until 2021. Sold Centsoft to Palette Software in 2018 and became the biggest private shareholder in the company. Previous assignments include serving as board member at Palette. Currently working as angel investor and professional board member.\"]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"br\",{}),\"\\xd6yvind Thomassen will remain in the board. BoardClic would also like to thank Bo Jungner and Gustaf Borgefalk for their valuable contribution as part of the board for the past years.\"]})]});export const richText13=/*#__PURE__*/t(o.Fragment,{children:[/*#__PURE__*/e(\"p\",{children:\"As your company positions itself for the next five years, you need to know how to construct a board which embraces diversity of thought and experience, whilst being aligned to your ultimate vision.\"}),/*#__PURE__*/e(\"h3\",{children:\"Key qualities to consider when recruiting board members\"}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/t(\"strong\",{children:[\"Knowledge\",/*#__PURE__*/e(\"br\",{})]}),\"You need to ensure there is sufficient understanding of your sector around the board table to offer support and challenge to the management team.\\xa0 Being acquainted with your mission and business in general also helps get board members up to speed as smoothly as possible.\"]}),/*#__PURE__*/e(\"p\",{children:\"However, this does not mean you look to recruit specialists into the board room, that is seldom a good idea. An expert can become too operational and stray into the remit of the executive or have a hard time creating wider value. Experts often work better on an advisory board or being hired as consultants.\"}),/*#__PURE__*/e(\"p\",{children:\"Other key attributes for board members are a good understanding of creating shareholder value, the wider stakeholder landscape including the communities you operate in and serve. This will help new joiners to gain the respect of other board members quickly.\"}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Proactiveness\"}),/*#__PURE__*/e(\"br\",{}),\"There is no point in recruiting a board member who will sit back and go with the flow. The way to keep the company moving in the right direction is for directors to be proactive and challenge the norms. Proactive directors face challenges head-on and alert their colleagues to issues they may not yet have discovered. However, board members must also be aligned to finding a positive outcome, not just pointing out problems otherwise they create unnecessary \u2018noise\u2019 in the boardroom in the limited time you have together.\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{}),\"It is also important that the board member understand his/her role \u2013 it is totally different from being operational. Naturally some boards are more hands on than others, but the role of a board member should be made clear, as should the role of the board itself.\"]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Patience\"}),/*#__PURE__*/e(\"br\",{}),\"Every board member should be there to make positive change to the organisation, but patience is also important. Change doesn\u2019t always happen quickly and, in fact, on many occasions, \",/*#__PURE__*/e(n,{href:\"https://www.prowess.org.uk/can-your-business-grow-too-quickly/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"that is for the best\"})}),\". Gradual change gives time for new ideas to be tested properly and enables all areas of the business to keep up with the adjustments needed to prosper.\",/*#__PURE__*/t(\"em\",{children:[/*#__PURE__*/e(\"br\",{}),\"\\xa0\"]}),\"\\xa0\"]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Persistence\"}),/*#__PURE__*/e(\"br\",{}),\"Being patient does not mean losing focus on the key priorities or allowing them to drift. The ideal board member would remain a persistent proponent of change to see a project, change or growth period through to the end and constantly bring the board and the management team back to the core mission at hand.\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Availability\"}),/*#__PURE__*/e(\"br\",{}),\"Capacity is key for a new board member. Successful directors are in demand, and you must be sure that they can dedicate the required time to your board. This is often overlooked and sometimes the board candidate finds the role very attractive and becomes too optimistic about available time. It is not just about attending a limited number of board meetings, these days a considerable amount of time must be spent between meetings studying board material, participating in committees or sub-groups and strategy days etc.\",/*#__PURE__*/e(\"em\",{children:/*#__PURE__*/e(\"br\",{})})]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/t(\"strong\",{children:[\"Thinking strategically and from all angles\",/*#__PURE__*/e(\"br\",{})]}),\"An ability to think broadly and see a problem from multiple perspectives is a very valuable trait. Other board members will trust the judgement of someone who is thoughtful and considers every aspect of the point they are trying to make. Seeing the big picture, thinking strategically, and looking up and out from the company is extremely important as the executives are naturally more focused on the organisation itself.\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Dedication\"}),/*#__PURE__*/e(\"br\",{}),\"Ideal board members do not just leave their association with your business at the door of the boardroom. They take it with them and use their time to prepare thoroughly before a meeting as well as to follow up afterwards. They are an ambassador for your brand and proud to be a member of your team.\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/t(\"strong\",{children:[\"Team player\",/*#__PURE__*/e(\"br\",{})]}),\"Being a team player is a great quality for board members. You can\u2019t do everything yourself, but as a team you can support the organisation in the best possible way. Ideal board members can collaborate, and they are often a better listener than speaker.\"]}),/*#__PURE__*/e(\"h3\",{children:'How to find the \"right\" board member'}),/*#__PURE__*/e(\"p\",{children:\"You should have a recruitment plan in place to find the right candidates for board membership. This plan for the board recruitment process includes the following important steps to find the right board member.\"}),/*#__PURE__*/e(\"h3\",{children:\"Be clear about the skills and knowledge gaps\"}),/*#__PURE__*/e(\"p\",{children:\"To build an effective board, you need to know which skills you are missing and where you require additional knowledge not just today but for the future. You should always be looking ahead to identify the future challenges that your organisation is likely to face. When considering new board members, you need to work out which skillsets the business will require in one, three or five years.\\xa0 I often call this Fit for Strategy.\"}),/*#__PURE__*/t(\"p\",{children:[\"Board diversity is key to ensure that you gain different perspectives on the challenges that you face from all perspectives. \",/*#__PURE__*/e(n,{href:\"https://hbr.org/2019/03/when-and-why-diversity-improves-your-boards-performance\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"Harvard Business Review states\"})}),\":\"]}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"em\",{children:\"\u201CBoard diversity matters but concentrating on only one form of diversity isn\u2019t enough. Our interviewees suggested that social diversity (e.g., gender, race/ethnicity, and age diversity) and professional diversity are both important for increasing the diversity of perspectives represented on the board.\u201D\"})}),/*#__PURE__*/t(\"p\",{children:[\"For example, with regulations on \",/*#__PURE__*/e(n,{href:\"https://boardclic.com/blog/esg-compliance/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"sustainability compliance\"})}),\" gathering pace in many jurisdictions around the world, it makes sense to have an environment, social and corporate governance (ESG) expert on the board.\"]}),/*#__PURE__*/e(\"p\",{children:\"Regularly assessing the individual and aggregate competencies and diversity of your board members against your current strategy and future challenges will provide a solid foundation for future recruitment.\"}),/*#__PURE__*/t(\"p\",{children:[\"If you\u2019re wondering how to identify skill gaps within your board, BoardClic\u2019s \",/*#__PURE__*/e(n,{href:\"https://boardclic.com/products/board-evaluation\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"digital board evaluation\"})}),\" platform can help.\"]}),/*#__PURE__*/e(\"h3\",{children:\"Identify talent pool\"}),/*#__PURE__*/e(\"p\",{children:\"As part of your recruitment strategy, you can maintain a list of prospective future directors, along with their key skills, and always be on the lookout for new sources of talent.\"}),/*#__PURE__*/e(\"p\",{children:\"To achieve true diversity, you are likely to need a wider pool of potential candidates than in the past. You need to look for people with different backgrounds, different qualifications, and experiences, and go beyond the traditional networks to identify people you may not have otherwise come across.\"}),/*#__PURE__*/e(\"p\",{children:\"Identifying a wide pool of talent can help as a starting point when filling a gap on your board.\\xa0 You should also be prepared for Directors leaving unexpectedly outside of the normal term limits. This can happen for many reasons: they can become short of time, e.g., if they take on another operational role or decide to add another board assignment; other roles can create a conflict of interest; or changes to their personal circumstances require them to step down. Having a list of candidates ready to approach will make the appointment process quicker and easier.\"}),/*#__PURE__*/e(\"h3\",{children:\"Write an accurate job description\"}),/*#__PURE__*/e(\"p\",{children:\"Now you know what you want from the new director, you can write a board member job description that targets the right candidate precisely. Lay out the company\u2019s mission, as well as the attributes that the successful candidate will possess. Don\u2019t fall into the lazy habit of using old words and phrases from previous roles that may exclude diverse candidates. For example, do you really need someone who has been a Group CFO or Audit Committee chair before? Instead describe the actual skills your board really needs to bring maximum value to the organisation.\"}),/*#__PURE__*/e(\"p\",{children:\"There is no point in sending out a general call for new directors. You will be buried under a pile of applications many of which will not possess the specific skills you are looking for. Instead, you should trust your network, use valuable references, or simply retain a specialised head-hunter.\"}),/*#__PURE__*/e(\"h3\",{children:\"Reach out to qualified prospects\"}),/*#__PURE__*/e(\"p\",{children:\"Waiting for a candidate to come to you means that you might miss out on the right person. Therefore, you should also be proactive in approaching those individuals that have been identified as suitable candidates.\"}),/*#__PURE__*/e(\"p\",{children:\"The nominating committee, or appropriate recruitment body for your organisation, will have been tracking suitable candidates, and should share their research and confirm the board\u2019s requirements as they conduct the process.\\xa0 This will help you target those who could be a perfect fit.\"}),/*#__PURE__*/e(\"h3\",{children:\"Create an interview process that gets the best outcome, not just repeats what you have done before\"}),/*#__PURE__*/e(\"p\",{children:\"Every step of your recruitment plan should be geared towards finding the right candidate. Just because a traditional interview might involve three board members sitting across the table from a candidate, trying to determine their expertise, this doesn\u2019t mean you need to run yours in this way.\"}),/*#__PURE__*/e(\"h3\",{children:\"Engage existing board members to decide\"}),/*#__PURE__*/e(\"p\",{children:\"You can invite potential board candidates to a networking event as a less formal approach. Your existing board members will also get an idea about whether they could work well with the candidate. Engaging existing board members to ask their opinions on future recruits allows them to pick up on strengths and weaknesses that you might not have previously considered.\"}),/*#__PURE__*/e(\"p\",{children:\"Your current directors will have to work with the new recruit, so their opinion on potential candidates is extremely valid. You want to create a cohesive and effective board, so making sure the majority is supportive of a new director is important. It should certainly feed into your decision-making.\"}),/*#__PURE__*/e(\"h3\",{children:\"How to build an inclusive and welcoming board culture\"}),/*#__PURE__*/t(\"p\",{children:[\"There are a number of steps you can take to foster a \",/*#__PURE__*/e(n,{href:\"https://www2.deloitte.com/us/en/pages/center-for-board-effectiveness/articles/how-to-create-a-board-culture-of-inclusion.html\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"welcoming board culture,\"})}),\" which helps when recruiting new board members. Here are some tips:\"]}),/*#__PURE__*/t(\"ul\",{style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"26px\",\"--framer-text-alignment\":\"left\",\"--framer-text-color\":\"rgb(116, 125, 136)\",\"--framer-text-transform\":\"none\"},children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/t(\"p\",{children:[\"Look for inclusiveness as an attribute of new board members that you recruit. They are a visible part of the organisation internally as well as externally, and their behaviour sets the tone.\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/t(\"p\",{children:[\"Encourage all directors to express their views and make sure they are heard.\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/t(\"p\",{children:[\"Encourage challenging opinions, especially when considering new directions and developments. Positively challenging the accepted norm is vital if you are to create a robust business strategy. This requires transparency, openness, and trust among the board. This doesn\u2019t happen by accident. It needs to be carefully cultivated and regularly monitored.\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"Request feedback after each meeting. Directors can tell you how inclusive and welcoming the board is and you can work on any action points that arise ahead of the next meeting. BoardClic Express provides a platform for real-time feedback on the effectiveness of regular board meetings.\"})})]}),/*#__PURE__*/t(\"h2\",{children:[/*#__PURE__*/e(\"br\",{}),\"FAQ\"]}),/*#__PURE__*/e(\"h3\",{children:\"Who should manage the recruitment process?\"}),/*#__PURE__*/e(\"p\",{children:\"Each company will have its own preference over who oversees board recruitment. It might be the nominating committee, or you could choose a separate recruitment committee to work with the board chair and senior executives. It depends on how you intend to run the process.\"}),/*#__PURE__*/e(\"h3\",{children:\"How can you find board members for a non-profit?\"}),/*#__PURE__*/e(\"p\",{children:\"A non-profit board can recruit in the same manner as a corporate board of directors, but it might also look for prominent supporters of the cause. A future director might be a donor or a dedicated volunteer because they already possess a good knowledge of the organisation and its cause. This is helpful when looking for new members in the non-profit sector.\"}),/*#__PURE__*/e(\"h3\",{children:\"What is a board skills matrix?\"}),/*#__PURE__*/t(\"p\",{children:[\"The board skills matrix, sometimes referred to as a board composition matrix, displays the various competencies of the current board members. It offers a visualisation of where your board currently stands and where you can improve. This is part of your\",/*#__PURE__*/e(n,{href:\"https://boardclic.com/blog/how-to-measure-board-effectiveness/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!1,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\" board assessment efforts\"})}),\" and can help you when filling a board position.\"]}),/*#__PURE__*/e(\"h3\",{children:\"Conclusion\"}),/*#__PURE__*/e(\"p\",{children:\"Now you know how to recruit new board members, you can set your strategy to fill the skill gaps that you have. Understanding which competencies and experiences you require is the first step and requires you to look at where you are now and where you aim to be in the future. You should be looking towards where your industry is heading and what investors and other stakeholders will require in a few years\u2019 time. Gaining a spread of knowledge, as well as proactive directors who are not afraid to challenge norms in a collaborative and respectful manner will lead to a strong board in the future. Diversity of minds to create a good debate before decision making is rewarding for the board and for the organisation.\"}),/*#__PURE__*/e(\"p\",{children:\"Understand where you can improve performance with BoardClic, an analytics platform enabling boards and CEOs to build better and more sustainable organisations.\"}),/*#__PURE__*/e(\"h3\",{children:\"Ready to build a board that drives your vision forward?\"}),/*#__PURE__*/t(\"p\",{children:[\"At BoardClic, we specialise in helping organisations identify gaps, evaluate performance, and create impactful boards. \",/*#__PURE__*/e(n,{href:\"https://boardclic.com/demo-request\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"Talk to one of our experts\"})}),\" today to learn how our expertise can support your board\u2019s recruitment and governance journey.\"]})]});export const richText14=/*#__PURE__*/t(o.Fragment,{children:[/*#__PURE__*/e(\"p\",{children:\"However, both national regulators and boards themselves have begun to understand the role of the board evaluation in improving their performance. Indeed, a board evaluation policy is increasingly more common for forward-thinking directors.\"}),/*#__PURE__*/t(\"p\",{children:[\"As one chair told the International Finance Corporation\u2019s (IFC) \",/*#__PURE__*/e(n,{href:\"https://www.ifc.org/en/home\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"Board Evaluations report,\"})})]}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"em\",{children:\"\u201CIf the chair and the board perceive board evaluation as an opportunity to get the board to think smarter and work more effectively, board evaluation can achieve great things!\u201D\"})}),/*#__PURE__*/e(\"p\",{children:\"From leadership and culture to teamwork and decision-making, board evaluations provide multiple benefits to an organisation, and a board evaluation policy helps to make them happen in a consistent and effective manner.\"}),/*#__PURE__*/t(\"p\",{children:[\"Read below to learn about what a board evaluation policy is, what it should include and why it is important for your business.\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]}),/*#__PURE__*/e(\"h3\",{children:\"What is a board evaluation policy?\"}),/*#__PURE__*/e(\"p\",{children:\"A board evaluation policy is your company\u2019s formal commitment to performance assessments. It should detail all of the relevant information about your evaluations to create a transparent process for conducting them, and would generally include:\"}),/*#__PURE__*/t(\"ul\",{style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"26px\",\"--framer-text-alignment\":\"left\",\"--framer-text-color\":\"rgb(116, 125, 136)\",\"--framer-text-transform\":\"none\"},children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/t(\"p\",{children:[\"The \",/*#__PURE__*/e(\"strong\",{children:\"frequency\"}),\" with which you hold evaluations\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"What\"}),\" elements of the board\u2019s attributes you will evaluate \u2013 balance of skills, experience, independence, communication, effectiveness of board meetings, diversity of ethnicity, gender, experience, skills and so on\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Who\"}),\" you will evaluate \u2013 the entire board, individual board members, committees or all three\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"How\"}),\" you will evaluate them \u2013 the methodology for assessing, whether it is a survey, an interview, using a board evaluation tool or any other way\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/t(\"p\",{children:[\"An \",/*#__PURE__*/e(\"strong\",{children:\"action plan\"}),\" for using the results and recommendations of the evaluation to make a positive change\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/t(\"p\",{children:[\"How you will \",/*#__PURE__*/e(\"strong\",{children:\"disclose\"}),\" the outcomes of the evaluation.\"]})})]}),/*#__PURE__*/e(\"h3\",{children:\"Why do you need an evaluation policy?\"}),/*#__PURE__*/t(\"p\",{children:[\"There are many reasons to create an evaluation policy for your business. Here are the main driving forces behind it:\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{}),\"\u2014\u2014\u2014\u2014-\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{}),\"6 STEPS TO CREATING A BOARD EVALUATION POLICY\"]}),/*#__PURE__*/t(\"p\",{children:[\"It is a good idea to discuss your performance evaluation with your board. Together, you can decide on what you want to achieve, how you will do it and what you will do with the information you gather.\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]}),/*#__PURE__*/e(\"h3\",{children:\"1. Define evaluation objectives\"}),/*#__PURE__*/t(\"p\",{children:[\"Your evaluation objectives might be a mixture of macro and micro topics. For example, there are many overarching board issues, such as \",/*#__PURE__*/e(n,{href:\"https://hbr.org/2019/03/when-and-why-diversity-improves-your-boards-performance\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"board diversity\"})}),\", composition and succession strategies. But you might also want to pick up on areas specific to your board.\"]}),/*#__PURE__*/e(\"p\",{children:\"Think about the areas of governance and board activity that are most pressing and of concern to stakeholders. These will form the basis of your board evaluation policy. Your objectives could include:\"}),/*#__PURE__*/t(\"ul\",{style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"26px\",\"--framer-text-alignment\":\"left\",\"--framer-text-color\":\"rgb(116, 125, 136)\",\"--framer-text-transform\":\"none\"},children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"Refining strategies for succession\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"Assessing leadership effectiveness and efficiency\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"Understanding directors\u2019 independence\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"Defining the roles of committees\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"Refreshing the board to better prepare it for the future\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"Consolidating the relationship between the board and the management of the company\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"Understanding participation in board meetings.\"})})]}),/*#__PURE__*/t(\"p\",{children:[\"The exact objectives will be unique to your organisation and should be documented in your policy.\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]}),/*#__PURE__*/e(\"h3\",{children:\"2. Document who you will evaluate\"}),/*#__PURE__*/e(\"p\",{children:\"Your policy should detail who you will assess during your board performance evaluation. Once again, this will be an individual decision for your board, based on their needs and preferences. Here are the general entities that can be subject to evaluation:\"}),/*#__PURE__*/t(\"ul\",{style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"26px\",\"--framer-text-alignment\":\"left\",\"--framer-text-color\":\"rgb(116, 125, 136)\",\"--framer-text-transform\":\"none\"},children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"The board in general\"}),\", detailing its operations and effectiveness. Looking at the roles and work of both executive and non-executive directors in relation to the board\u2019s performance, risk management and other areas.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Board committees\"}),\", such as the nomination and remuneration committee, including how they fulfil their mandates and serve the requirements of the board itself.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Individual directors\"}),\", either through self-assessment or \",/*#__PURE__*/e(n,{href:\"https://boardclic.com/blog/peer-evaluations-benefits/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"peer evaluation\"})}),\". This is in accordance with rules from \",/*#__PURE__*/e(n,{href:\"https://www.oecd.org/daf/ca/Evaluating-Boards-of-Directors-2018.pdf\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"regulatory bodies in many countries\"})}),\", including France, Italy, Luxembourg, the Netherlands and the United Kingdom. However, even if it is not the law where you are, you might still choose to assess the performance of individual directors. In order to ensure people speak their minds and the evaluation has the highest level of integrity, you might want to guarantee confidentiality when referring to individuals.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"The CEO\"}),\", to ensure their priorities and goals are aligned with the board and that they are leading effectively.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"The chair.\"}),\" This is seen as a necessity in the \",/*#__PURE__*/e(n,{href:\"https://www.oecd.org/daf/ca/Evaluating-Boards-of-Directors-2018.pdf\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"UK and France\"})}),\", particularly, given the special role of the chairperson of the company. This part of the evaluation of performance is often carried out by the independent directors.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Independent directors\"}),\" of the company may also be evaluated to help you get a clear, 360-degree view of \",/*#__PURE__*/e(n,{href:\"https://boardclic.com/blog/how-to-measure-board-effectiveness/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"board performance\"})}),\". For some companies, it may even be a part of their \",/*#__PURE__*/e(n,{href:\"https://www.icsi.edu/media/portals/0/guide_to_board.pdf\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"post-listing obligations\"})}),\".\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]})})]}),/*#__PURE__*/e(\"h3\",{children:\"3. Detail evaluation methodology\"}),/*#__PURE__*/e(\"p\",{children:\"You should also set out in your policy how you will carry out the evaluation of the performance of the board. Below are some of the popular forms of evaluation methodology for eliciting responses and understanding board effectiveness:\"}),/*#__PURE__*/t(\"ul\",{style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"26px\",\"--framer-text-alignment\":\"left\",\"--framer-text-color\":\"rgb(116, 125, 136)\",\"--framer-text-transform\":\"none\"},children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Surveys or questionnaires\"}),\" \u2013 these could be generic questionnaires taken from the internet, or generated by a digital evaluation platform like \",/*#__PURE__*/e(n,{href:\"https://boardclic.com/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"BoardClic\"})}),\", which allows you to benchmark directors in the same company as well as the sector to give context to the results. It also creates intuitive reports on the wider picture with the ability to zoom in to certain areas.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Interviews\"}),\" \u2013 directors sit with the chair and answer questions, discussing important topics relating to the board and its performance, giving their opinion in a conversational format.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"External evaluation\"}),\" \u2013 a third-party assessor takes control of the evaluation process to offer an objective eye on the workings of the board. In the UK, \",/*#__PURE__*/e(n,{href:\"https://www.frc.org.uk/getattachment/ca7e94c4-b9a9-49e2-a824-ad76a322873c/UK-Corporate-Governance-Code-April-2016.pdf\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"FTSE 350\"})}),\" companies must use an external evaluator at least every three years. The \",/*#__PURE__*/e(n,{href:\"https://virtusinterpress.org/IMG/pdf/10.22495cbv13i3art1-2.pdf\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"EU corporate governance framework\"})}),\" green paper also suggested member states adopt a similar approach. This provides an independent audit of the board.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Group evaluation\"}),\" \u2013 directors discuss openly the performance of the board and its success or otherwise in achieving its aims and objectives.\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]})})]}),/*#__PURE__*/e(\"h3\",{children:\"4. List evaluation criteria\"}),/*#__PURE__*/e(\"p\",{children:\"Your evaluation policy should provide insight into a range of criteria relating to the board. This might include topics relating to the duties of the board, how it is structured and the processes in place that determine how it operates.\"}),/*#__PURE__*/t(\"p\",{children:[\"You might want to look into how long the board takes to consider matters, compliance issues, diversity, independence and more. Whatever you decide, make sure you share it in your evaluation policy so stakeholders can learn what to expect from the assessments.\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]}),/*#__PURE__*/e(\"h3\",{children:\"5. Determine evaluation frequency\"}),/*#__PURE__*/t(\"p\",{children:[\"Some countries have minimum standards for the frequency of board evaluations within their jurisdiction. For example, the \",/*#__PURE__*/e(n,{href:\"https://uk.practicallaw.thomsonreuters.com/w-029-3786?transitionType=Default&contextData=(sc.Default)&firstPage=true\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"Netherlands\"})}),\" and Italy require issuers to conduct an annual board evaluation, whereas, in Luxembourg, this could be done every two years.\"]}),/*#__PURE__*/e(\"p\",{children:\"You should also decide how often to undertake internal evaluations, external evaluations or a mixture of both. The cost implications of hiring an external evaluator with a sufficient understanding of the business and the industry may cause some companies to use a rolling cycle of internal and external assessments. For example, this can be a solution in the UK, where the Corporate Governance Code from the Financial Reporting Council (FRC) dictates that an external evaluation must take place every three years.\"}),/*#__PURE__*/t(\"p\",{children:[\"You can also run evaluations more frequently if you wish. A good way of tracking your progress is by requesting real-time feedback on the effectiveness of board and committee meetings as they happen. This isn\u2019t a complete evaluation but it allows you to nurture a culture of continuous improvement. Use \",/*#__PURE__*/e(n,{href:\"https://boardclic.com/products/meeting-express\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"Meeting Express\"})}),\" to gain insights into how to improve your meetings and leadership skills.\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]}),/*#__PURE__*/e(\"h3\",{children:\"6. Set guidelines for reporting\"}),/*#__PURE__*/e(\"p\",{children:\"Disclosure of outcomes and action points is an important part of the evaluation process. You must decide for your policy how you will report after the event.\"}),/*#__PURE__*/t(\"p\",{children:[\"This might be through means laid out in the law in your country. For example, French and Dutch firms, amongst others, are required to list the outcomes in their annual report according to national disclosure requirements. You could also choose to detail your findings on the company website, for full transparency.\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]}),/*#__PURE__*/e(\"h2\",{children:\"FAQ\"}),/*#__PURE__*/e(\"h3\",{children:\"How often should you evaluate your board of directors?\"}),/*#__PURE__*/t(\"p\",{children:[\"The frequency and timeline of evaluations depend on the minimum standards in the jurisdiction and the culture of the company. In France, for example, \",/*#__PURE__*/e(n,{href:\"https://www.oecd.org/daf/ca/Evaluating-Boards-of-Directors-2018.pdf\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"directors must set aside time every year to debate the operation of the board in a meeting\"})}),\" and are required to conduct a formal evaluation once every three years. However, a French company could choose to hold an annual evaluation by the governance committee if it thought that would be beneficial to its board and stakeholders. Some countries mandate an evaluation of the board on an annual basis.\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]}),/*#__PURE__*/e(\"h3\",{children:\"How do you measure the effectiveness of the board?\"}),/*#__PURE__*/e(\"p\",{children:\"The effectiveness of a board can be gleaned from tracking its progress over time and using the findings from your evaluation to form a plan for action.\"}),/*#__PURE__*/t(\"p\",{children:[\"The key here is how you analyse the results. To ensure rich data and actionable insights, use \",/*#__PURE__*/e(n,{href:\"https://boardclic.com/products-solutions/digital-board-evaluation/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"BoardClic\u2019s board evaluation platform\"})}),\" to find out the most pertinent and useful metrics to measure for your industry and sector. In addition, you can not only see how you stack up against your own historic scores but also how you compare with your peers.\"]}),/*#__PURE__*/t(\"p\",{children:[\"Our wealth of benchmark data helps you gain an edge over your competition. You can also pinpoint critical challenges and turn them into objectives.\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]}),/*#__PURE__*/e(\"h3\",{children:\"Who should read your board evaluation policy?\"}),/*#__PURE__*/t(\"p\",{children:[\"The effectiveness of your board evaluation processes affects everyone involved in the success of your company. Your board evaluation policy is of interest to the board itself, investors, management and all other stakeholders in the business.\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]}),/*#__PURE__*/e(\"h3\",{children:\"Conclusion\"}),/*#__PURE__*/e(\"p\",{children:\"A board evaluation policy formalises your assessment processes and makes them available to scrutiny from all company stakeholders. It offers transparency and accountability for the board and shows that you are serious about making real, tangible changes to its function, rather than performing a check-box task every year in order to comply with regulations. Board assessments provide real value to companies while keeping the regulators at bay. That\u2019s why they should be embraced by forward-thinking organisations.\"}),/*#__PURE__*/t(\"p\",{children:[\"Use BoardClic to carry out your evaluations digitally, collect insights and find out how your performance compares to other companies in your industry. \",/*#__PURE__*/e(n,{href:\"https://boardclic.com/demo-request/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(r.a,{children:\"Try Boardclic today\"})}),\".\"]})]});\nexport const __FramerMetadata__ = {\"exports\":{\"richText6\":{\"type\":\"variable\",\"annotations\":{\"framerContractVersion\":\"1\"}},\"richText8\":{\"type\":\"variable\",\"annotations\":{\"framerContractVersion\":\"1\"}},\"richText3\":{\"type\":\"variable\",\"annotations\":{\"framerContractVersion\":\"1\"}},\"richText9\":{\"type\":\"variable\",\"annotations\":{\"framerContractVersion\":\"1\"}},\"richText12\":{\"type\":\"variable\",\"annotations\":{\"framerContractVersion\":\"1\"}},\"richText2\":{\"type\":\"variable\",\"annotations\":{\"framerContractVersion\":\"1\"}},\"richText\":{\"type\":\"variable\",\"annotations\":{\"framerContractVersion\":\"1\"}},\"richText5\":{\"type\":\"variable\",\"annotations\":{\"framerContractVersion\":\"1\"}},\"richText4\":{\"type\":\"variable\",\"annotations\":{\"framerContractVersion\":\"1\"}},\"richText11\":{\"type\":\"variable\",\"annotations\":{\"framerContractVersion\":\"1\"}},\"richText14\":{\"type\":\"variable\",\"annotations\":{\"framerContractVersion\":\"1\"}},\"richText13\":{\"type\":\"variable\",\"annotations\":{\"framerContractVersion\":\"1\"}},\"richText10\":{\"type\":\"variable\",\"annotations\":{\"framerContractVersion\":\"1\"}},\"richText1\":{\"type\":\"variable\",\"annotations\":{\"framerContractVersion\":\"1\"}},\"richText7\":{\"type\":\"variable\",\"annotations\":{\"framerContractVersion\":\"1\"}},\"__FramerMetadata__\":{\"type\":\"variable\"}}}"],
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}
