{"version":3,"file":"LirKPvwBI-7.Cw_SQCh8.mjs","names":["o","n"],"sources":["https:/framerusercontent.com/modules/cum6vxnO7slp7zOx9ZvI/IqpsPOV0PL2vmoAavzJW/LirKPvwBI-7.js"],"sourcesContent":["import{jsx as e,jsxs as t}from\"react/jsx-runtime\";import{Link as o}from\"framer\";import{motion as n}from\"framer-motion\";import*as a from\"react\";export const richText=/*#__PURE__*/t(a.Fragment,{children:[/*#__PURE__*/t(\"p\",{children:[\"98% of \",/*#__PURE__*/e(o,{href:\"https://www.spencerstuart.com/-/media/2020/december/ssbi2020/ssbi_2020_highlights.pdf\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"S&P 500 companies\"})}),\" revealed they conducted an evaluation in 2020, even though it wasn’t mandated. In other markets, evaluations are mandatory. Here are a few examples:\\xa0\\xa0\"]}),/*#__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:[\"In the UK and Ireland, the \",/*#__PURE__*/e(o,{href:\"https://www.frc.org.uk/getattachment/61232f60-a338-471b-ba5a-bfed25219147/2018-Guidance-on-Board-Effectiveness-FINAL.PDF\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Financial Reporting Council (FRC)\"})}),\" demands “a formal and rigorous annual evaluation of the performance of the board, its committees, the chair and individual directors”\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"The New York Stock Exchange (NYSE) makes it an obligation for listed companies to evaluate their boards.\\xa0\"})})]}),/*#__PURE__*/t(\"p\",{children:[\"The \",/*#__PURE__*/e(o,{href:\"https://morrowsodali.com/uploads/articles/attachments/A.0086_2.pdf\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Bank of Italy\"})}),\" has issued guidance for Italian banks, recommending they conduct periodic board evaluations.\"]}),/*#__PURE__*/t(\"p\",{children:[\"What makes measuring board effectiveness so challenging is the fact that there are no clear guidelines even when board evaluations are mandatory. For example, it is required by law in the UK, but there is very little information about how it should be done. The only hint of guidance comes from the FRC, which \",/*#__PURE__*/e(o,{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,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"states\"})}),\" that the evaluation process of FTSE 350 companies should be conducted by an external party at least every three years.\"]}),/*#__PURE__*/e(\"p\",{children:\"Thankfully, the digital revolution means that there are tools available to really dig into the issues in the board and to help create a roadmap to drive the board’s performance in a way that benefits the business and its shareholders. Read this article to find out how to measure board effectiveness successfully and create the best board evaluations digitally.\"}),/*#__PURE__*/e(\"h2\",{children:\"Why board performance is a growing issue\"}),/*#__PURE__*/t(\"p\",{children:[\"The board represents the highest level of accountability in a business, which means that shareholders will keep a keen eye on its performance. Whereas once it might have been enough to satisfy investors that the business was profitable, non-financial metrics are \",/*#__PURE__*/e(o,{href:\"https://corpgov.law.harvard.edu/2017/04/25/the-importance-of-nonfinancial-performance-to-investors/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"of growing interest\"})}),\".\\xa0\"]}),/*#__PURE__*/t(\"p\",{children:[\"Today’s investors care about the environment, particularly climate change and how issuers plan to combat that in their products and processes. They are interested in social factors, such as diversity and inclusion, and governance topics like remuneration and corruption. These elements, grouped together as \",/*#__PURE__*/e(o,{href:\"https://boardclic.com/blog/esg-reporting-frameworks/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"ESG (environment, social and corporate governance)\"})}),\", are not as easy to quantify and evaluate as profitability, so require a more nuanced and in-depth evaluation of the board.\\xa0\"]}),/*#__PURE__*/t(\"p\",{children:[\"With \",/*#__PURE__*/e(o,{href:\"https://www.unbiased.co.uk/news/financial-adviser/socially-responsible-investing-predicted-to-double-in-2021\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"research by OnePlanetCapital\"})}),\" suggesting nine out of ten investors are actively seeking greener investments, it is easy to see why being able to measure your effectiveness in this area is beneficial to your business.\\xa0\"]}),/*#__PURE__*/e(\"h2\",{children:\"How to carry out an effective board evaluation online\"}),/*#__PURE__*/e(\"p\",{children:\"There are a host of ways to carry out an effective board evaluation offline, but a more cost-effective and practical approach is to conduct them online. With remote working being more popular than ever, it seems old fashioned to expect board members to clear a window in their day that aligns with the chair or whoever leads the process and to travel to answer the questions required.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"Here are the steps to move toward performing online board evaluations.\"}),/*#__PURE__*/e(\"h3\",{children:\"Choose your method\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"strong\",{children:\"Method\"})}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"strong\",{children:\"Pros\"})}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"strong\",{children:\"Cons\"})}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"em\",{children:\"Self-created online surveys\"})}),/*#__PURE__*/e(\"p\",{children:\"Simple to create and to fill inEasy to compare responses year-on-yearCost-effective to create\"}),/*#__PURE__*/e(\"p\",{children:\"Unable to provide nuance with multiple choice answersEasy to dismiss as a simple box-checking exercise rather than a genuine attempt to explore issues\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"em\",{children:\"Using a digital evaluation tool\\xa0\"})}),/*#__PURE__*/e(\"p\",{children:\"Provides templates for questions designed to elicit the most useful responses\\xa0Allows you to benchmark directors in the same company as well as the sector to give context to resultsCreates intuitive reports on the wider picture as well as for drilling down in certain areas\"}),/*#__PURE__*/e(\"p\",{children:\"More expensive than creating your own online survey\"}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"Appoint a leader\"}),/*#__PURE__*/t(\"p\",{children:[\"There are a number of differing views over who should lead the online board evaluation process. The \",/*#__PURE__*/e(o,{href:\"https://www.oecd.org/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Organisation for Economic Co-Operation and Development\"})}),\" (OECD) states that:\\xa0\"]}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"em\",{children:\"“Either the chair, lead independent board, or board committee (usually the nominating committee), should be explicitly made responsible for the process. They should drive the process, involve the right people (including third party consultants, if necessary), and ensure that their colleague-directors are actively engaged.”\\xa0\"})}),/*#__PURE__*/e(\"p\",{children:\"Often it is the chair and the company secretary that take the lead. You will also find that the lead non-executive director will complete the evaluation of the chair as well as taking on other roles.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"The choice of leader will depend on your company and its unique needs. It should be someone who can extract the best quality information from their colleagues and use the findings to drive the board forwards.\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"Ask the right questions\"}),/*#__PURE__*/e(\"p\",{children:\"Whether it’s a self-assessment or some other type of questionnaire, it’s crucial to ask the right questions — the ones that provide valuable insight and help to inform the future workings of the board. They should also be worthy of the time directors take out of their day to answer them. For example, asking senior executives how often they attend meetings is unnecessary, as you should already have that information at hand. It provides no value whatsoever.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"Finding out directors’ opinions on the size of the board, the diversity of skills, the positioning to face future risks and trends is what’s important. Such questions help you understand the actions you need to take to increase board effectiveness going forwards.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"Questions with a yes or no answer are a little limiting, so try to ask for opinions or reasons behind the responses. Alternatively, offer a sliding scale of answers to choose from. For example, ‘completely agree’ to ‘completely disagree’.\"}),/*#__PURE__*/e(\"h4\",{children:\"Example board evaluation questions\"}),/*#__PURE__*/e(\"p\",{children:\"Your board evaluations questions will relate to your company and industry, but there are a host of basic questions that you could ask as part of the procedure. Here are some examples that you can use or adapt as per your needs:\"}),/*#__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:\"How well do you understand the board’s role in the company?\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"How effective are board meetings?\\xa0\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"Are board papers delivered in a timely manner?\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"How would you describe the dynamics of the board in meetings?\\xa0\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"How well do you understand the role of the committees?\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"How well has the board identified the skills it needs to face future challenges?\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"How well informed are directors about the sector in which the business works?\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"How diverse is the board?\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"How confident are you in the board’s crisis management plan?\\xa0\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"Does the board dedicate enough time to discussing risk?\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"Does the board dedicate enough time to discussing strategy?\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"How strong is the relationship between the board and management?\\xa0\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"How strong is the relationship between the board and the CEO?\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"How effective is the chair?\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"How effectively does the chair encourage an atmosphere of collaboration and trust?\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"How effectively does the chair manage dissent in the boardroom?\"})})]}),/*#__PURE__*/t(\"p\",{children:[\"You can find industry and sector-related questions by using \",/*#__PURE__*/e(o,{href:\"https://boardclic.com/products-solutions/digital-board-evaluation/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Boardclic’s digital board evaluation platform\"})}),\". We have developed templates for many different industries and formats for all manner of different company structures too. You can use these as they are or customise them for your business.\\xa0\"]}),/*#__PURE__*/e(\"h3\",{children:\"Compare to the industry benchmarks\"}),/*#__PURE__*/e(\"p\",{children:\"Gathering a huge amount of data from directors can be helpful but only if you make sense of it. Analysing this data is what will provide the necessary context.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"Your board may have made gains in terms of the skill sets acquired, but understanding how it stands compared to industry benchmarks allows you to see your real-world progress.\\xa0\"}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"em\",{children:\"Are you the industry leader or do you still need to catch up with the competition?\"}),\"\\xa0\"]}),/*#__PURE__*/e(\"p\",{children:\"In order to be competitive, you have to measure the responses against peers as well as against your own historical performance.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"One way to do this is by using Boardclic for your digital evaluations. This will give you access to a wealth of industry data to allow you to pinpoint your critical challenges and turn them into action points.\\xa0\"}),/*#__PURE__*/e(\"h2\",{children:\"Best practices to evaluate board effectiveness\"}),/*#__PURE__*/e(\"h3\",{children:\"Plan the evaluation process\"}),/*#__PURE__*/e(\"p\",{children:\"Careful planning will allow you to make the most of the evaluation process. Carefully plot the questions that provide the best insight whilst also ensuring there are no wasted queries. Decide who will take the lead and who will collate the data, analyse it and plan what to do with that information to ensure the smooth running of the process.\"}),/*#__PURE__*/e(\"p\",{children:\"If it is to be a worthwhile undertaking, a board evaluation requires more planning than simply throwing together a simple questionnaire to tick a box. Investors require much more scrutiny.\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"Who evaluates and how?\"}),/*#__PURE__*/e(\"p\",{children:\"Evaluating individual directors is a useful tool for analysing the composition of the board. You can uncover what each director brings to the group and how they have contributed to the strategic thinking of the board.\"}),/*#__PURE__*/e(\"p\",{children:\"You might consider a mixture of three main methods of evaluation – self-evaluation, peer evaluation and external evaluation.\"}),/*#__PURE__*/e(\"p\",{children:\"Peer reviews are often avoided as they can lead to tension between board members. When directors give anonymous feedback, it can often become acrimonious and arouse suspicions between members. You should gain consensus from the board before pursuing this route, and ensure there is an existing environment of trust and transparency.\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"Prioritise evaluation topics\"}),/*#__PURE__*/e(\"p\",{children:\"You must consider the opinions of shareholders and other stakeholders before you decide on the priority topics for your evaluations. It is not possible to cover absolutely everything, so creating an order of importance is key.\\xa0\"}),/*#__PURE__*/t(\"p\",{children:[\"At the top of many lists will be ESG considerations. With \",/*#__PURE__*/e(o,{href:\"https://www.cnbc.com/2021/02/11/sustainable-investment-funds-more-than-doubled-in-2020-.html\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"ESG funds collecting double the amount of new money\"})}),\" in 2020 than in 2019, this topic is increasingly important in the minds of investors. So, your board needs to ensure it is doing everything it can to improve its performance when it comes to environmental, social and corporate governance factors.\"]}),/*#__PURE__*/e(\"p\",{children:\"Board structure and composition is another major topic for investors. They want to know that they are represented in terms of ethnicity, gender, age, geography, independence, as well as skills, expertise and experience.\"}),/*#__PURE__*/e(\"p\",{children:\"How the board works together is also a concern. As the body charged with driving strategy, it is essential that the board works collaboratively and in the interests of the company at all times. Board dynamics should be analysed and discussed during the evaluation.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"You might also look at succession planning, risk management, executive remuneration and more.\"}),/*#__PURE__*/e(\"h3\",{children:\"Analyse evaluation results and create an action plan\"}),/*#__PURE__*/e(\"p\",{children:\"Once you have your results, you need to drill down into the data to understand exactly what they mean. This is how you gain a competitive advantage over your peers. Simply\\xa0 compare your performance against theirs and you can develop an action plan to adjust your strategy and hit the points you need for success.\\xa0\"}),/*#__PURE__*/t(\"p\",{children:[\"Speaking of this, Boardclic’s board evaluation tool creates intuitive reports that you can view on the platform or download. They allow you to access an overview of the evaluation, but also to drill down into the data and truly understand where your board is and where it needs to be. You can see which \",/*#__PURE__*/e(\"strong\",{children:\"skills\"}),\" you need to add, which \",/*#__PURE__*/e(\"strong\",{children:\"metrics\"}),\" you should concentrate on and assess your\",/*#__PURE__*/e(\"strong\",{children:\" risk strategy\"}),\", for example.\\xa0\"]}),/*#__PURE__*/e(\"h2\",{children:\"FAQ\"}),/*#__PURE__*/e(\"h3\",{children:\"What makes a board effective?\"}),/*#__PURE__*/e(\"p\",{children:\"An effective board has a collaborative culture, cultivates honesty and is willing to change and improve for the good of the company. It is transparent and future-facing, whilst being keen to measure itself against the industry and striving to align its strategy with the goals of the key stakeholders.\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"How can a board of directors improve performance?\"}),/*#__PURE__*/e(\"p\",{children:\"Improving performance is related to understanding what makes for good performance. Whether it is compared with historic performance within the organisation or by comparing the board against industry benchmarks. Evaluating performance regularly in an honest, open and collaborative way helps to formulate action plans to drive the board forwards.\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h2\",{children:\"Conclusion\"}),/*#__PURE__*/e(\"p\",{children:\"A performance evaluation is essential internally for the board itself and externally for the key stakeholders. They show that the company is keen to move ahead and evolve in a way that brings value.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"Boards must work out how to measure board effectiveness most appropriately for their sector. Using industry benchmarks, they can understand performance and create action points\"})]});export const richText1=/*#__PURE__*/t(a.Fragment,{children:[/*#__PURE__*/e(\"p\",{children:\"But business today is hypercompetitive. If you want to gain an edge, you need to use all the available tools to increase performance. And one of the most effective ways to maximise the productivity of your board, and consequently of your business, is by using peer reviews.\"}),/*#__PURE__*/e(\"h2\",{children:\"The common pitfalls of peer evaluations\"}),/*#__PURE__*/e(\"p\",{children:\"Peer-to-peer reviews are not without their hurdles. The anonymous nature of the reviews means that some people use them to criticise a director on their popularity, rather than their performance, potentially leading to serious friction between individuals. Some board members might also find the evaluations difficult to hear. So, if you do want to explore peer evaluations, it is important to gain a consensus from board members beforehand.\"}),/*#__PURE__*/e(\"p\",{children:\"While many boards skirt around the topic of peer reviews, when done right individual evaluations can nurture strengths, spot problems early, and streamline how your board functions. Today, more and more businesses are realising this!\"}),/*#__PURE__*/e(\"p\",{children:\"In 2019, 39% of Fortune 100 companies conducted director self-assessments. This was up from 24% in 2018. A further 25% sought peer evaluations, which was a rise of 15% from the 2018 figure.\"}),/*#__PURE__*/e(\"p\",{children:\"Here is how your board can master peer reviews.\"}),/*#__PURE__*/t(\"h2\",{children:[/*#__PURE__*/e(\"br\",{}),\"How your company can run successful peer reviews\"]}),/*#__PURE__*/e(\"p\",{children:\"Peer reviews can offer invaluable insights. But to capitalise on them, the focus should be on the value they create. Knowing how to use the data to see how it affects the board and its performance is the key to unlocking long-lasting board excellence.\"}),/*#__PURE__*/e(\"h3\",{children:\"1. Make sure you have a clear objective\"}),/*#__PURE__*/e(\"p\",{children:\"Why are you doing peer evaluations? To run successful evaluations, your board needs to have a clear, well-defined purpose. The goals must be discussed and agreed upon within the whole board. A good place to start is by answering these questions:\"}),/*#__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:\"What do you want to achieve by doing peer evaluations?\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"What’s the evaluation process going to look like and what format will you use?\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"What will your evaluation focus on? What questions or aspects are important for your board or company?\"})})]}),/*#__PURE__*/e(\"h3\",{children:\"2. Practical tips for conducting your peer evaluations\"}),/*#__PURE__*/e(\"p\",{children:\"Using individual peer evaluations together with a wider board evaluation is the best way to improve board productivity and efficiency. That’s why we have merged peer reviews as an integral part of the overall board evaluation process.\"}),/*#__PURE__*/e(\"p\",{children:\"One of the most valuable tips we have discovered is to include self-assessments as a part of the evaluation! They help you to spot discrepancies and give your directors the chance to reflect – encouraging professional growth and self-development.\"}),/*#__PURE__*/e(\"h3\",{children:\"3. How to turn peer evaluations into better performance?\"}),/*#__PURE__*/e(\"p\",{children:\"A more streamlined peer-review process means improved board performance. And improved performance means more time and resources are spent on the growth of your business.\"}),/*#__PURE__*/e(\"p\",{children:\"You don’t want to waste the skills of your directors. Using evaluation feedback can maximise their potential. But it can also offer ideas for long-term development by providing crucial information for the nomination committee on board composition. This encourages sustainable and continuous development.\"}),/*#__PURE__*/e(\"h3\",{children:\"4. Long-lasting improvements and continued optimisation\"}),/*#__PURE__*/e(\"p\",{children:\"We at BoardClic believe that it is crucial to commit to working with the data and the insights over a longer timeframe. There is nothing we hate more than wasted effort. Hence, we want to make peer evaluations an integral part of how boards everywhere function to help you capitalise on long-term improvements.\"}),/*#__PURE__*/e(\"p\",{children:\"Looking past the life cycle of an individual board can help you to boost your board composition, productivity, and continuity. There is no reason to start from scratch with each new board. Instead, review data can help you to encourage sustainable development and learn from past mistakes. And if, by making reviews more accessible and useful, we can break the unnecessary stigma around peer evaluations – all the better!\"}),/*#__PURE__*/e(\"h2\",{children:\"Conclusion\"}),/*#__PURE__*/t(\"p\",{children:[\"If you want to learn more about how peer evaluations can unlock the potential of your board, our new ebook \",/*#__PURE__*/e(o,{href:\"https://info.boardclic.com/board-evaluations\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"“Board Evaluations Have Changed – Here’s How To Conduct Them Today”\"})}),\" is for you! This book combines decades of experience in the boardroom with the most exciting recent advances in data analysis.\"]}),/*#__PURE__*/t(\"p\",{children:[\"You might also be interested in reading more about our most recent product: \",/*#__PURE__*/e(o,{href:\"https://boardclic.com/products/peer-review\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Peer Review.\"})}),\" As the name suggests, it’s an evaluation for individual director feedback.\"]}),/*#__PURE__*/e(\"p\",{children:\"Recognise top performers, create alignment, and improve board composition. All in one platform.\"})]});export const richText2=/*#__PURE__*/t(a.Fragment,{children:[/*#__PURE__*/t(\"p\",{children:[\"Besides consumers’ increasing awareness about sustainability, recent events have also focused investors’ attention on ESG, with \",/*#__PURE__*/e(o,{href:\"https://www.cfainstitute.org/en/research/esg-investing/sustainable-investing\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"sustainable investing\"})}),\" becoming the norm, not the exception.\\xa0\"]}),/*#__PURE__*/t(\"p\",{children:[\"And, while environmental awareness is relatively high and many boards are already turning to solutions like Boardclic to help them constantly \",/*#__PURE__*/e(o,{href:\"https://boardclic.com/products-solutions/digital-board-evaluation/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"improve their governance efforts\"})}),\", recent events have prompted investors and customers alike to look more closely at the middle letter in ESG.\\xa0\"]}),/*#__PURE__*/e(\"p\",{children:\"Events such as the pandemic and the assassination of George Floyd have raised questions like:\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"em\",{children:\"‘What is this company doing to protect the wellbeing of its employees?’\"})}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"em\",{children:\"‘Is this company working actively on diversity and inclusion?’\"})}),/*#__PURE__*/t(\"p\",{children:[\"So, today, it is essential for businesses to place emphasis on the social aspects of their company policies, recording, reporting and improving the various ESG social metrics.\\xa0\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"strong\",{children:\"What is the 'S' in ESG?\"})]}),/*#__PURE__*/t(\"p\",{children:[\"The ‘S’ refers to the social aspect of ESG or, in other words, to a company’s \",/*#__PURE__*/e(\"strong\",{children:\"relationship\"}),\" with its workforce, the \",/*#__PURE__*/e(\"strong\",{children:\"communities\"}),\" in which it operates and the \",/*#__PURE__*/e(\"strong\",{children:\"political issues\"}),\" that may be raised by its employees.\\xa0\"]}),/*#__PURE__*/t(\"p\",{children:[\"Social ESG factors mean different things to different organisations. They can be \",/*#__PURE__*/e(\"strong\",{children:\"objective goals \"}),\"like the number of people trained in safety measures at an oil exploration company or the number of sustainable housing units built for communities by a housing company. Or, they can be more \",/*#__PURE__*/e(\"strong\",{children:\"subjective goals \"}),\"like ensuring employees get the desired opportunities to grow and have access to the necessary resources. And, they can be completely \",/*#__PURE__*/e(\"strong\",{children:\"abstract goals\"}),\" like employee satisfaction and boosting morale.\\xa0\"]}),/*#__PURE__*/e(\"p\",{children:\"Regardless of the goals you set, the key to success is selecting the right ESG criteria and measuring your performance against them.\\xa0\"}),/*#__PURE__*/e(\"h2\",{children:\"How to measure your ESG social performance?\"}),/*#__PURE__*/e(\"p\",{children:\"Objective and subjective goals can be measured by using designated metrics or by getting feedback from employees and customers. Abstract goals can be measured via indirect factors like increased productivity, employee morale or customer enthusiasm for your brand.\\xa0\"}),/*#__PURE__*/e(\"h2\",{children:\"How to choose the right metrics?\"}),/*#__PURE__*/e(\"p\",{children:\"Naturally, evaluating ESG performance requires you to set concrete metrics to track it. This is not only to understand the effectiveness of your ESG programs but also to report accurately to your investors and other stakeholders. Now, the question here is,\\xa0\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"em\",{children:\"‘Which ESG metrics should we track?’\"})}),/*#__PURE__*/t(\"p\",{children:[\"A good starting point is to follow \",/*#__PURE__*/e(o,{href:\"https://www.weforum.org/whitepapers/toward-common-metrics-and-consistent-reporting-of-sustainable-value-creation\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"the recommendations of the World Economic Forum\"})}),\" which were developed in collaboration with the current standard-setters such as the Global Reporting Initiative (GRI) and the Task Force on Climate‐related Financial Disclosures (TCFD).\\xa0\"]}),/*#__PURE__*/e(\"p\",{children:\"WEF suggests the following core metrics:\"}),/*#__PURE__*/t(\"ul\",{style:{\"--framer-font-size\":\"17px\",\"--framer-line-height\":\"26px\",\"--framer-text-alignment\":\"start\",\"--framer-text-color\":\"rgb(116, 125, 136)\",\"--framer-text-transform\":\"none\"},children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"17px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"Gender pay equality\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"17px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"Diversity and inclusion\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"17px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"Wage level\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"17px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"Risk of incidents of child and forced labour\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"17px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"Health and safety\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"17px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"Training provided (#, $)\"})})]}),/*#__PURE__*/t(\"p\",{children:[\"You can find more information on the above metrics and an extended set of ESG social metrics under the “People” pillar in WEF’s paper titled \",/*#__PURE__*/e(o,{href:\"http://www3.weforum.org/docs/WEF_IBC_ESG_Metrics_Discussion_Paper.pdf\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:/*#__PURE__*/e(\"em\",{children:\"Measuring Stakeholder Capitalism\"})})}),\".\\xa0\"]}),/*#__PURE__*/e(\"p\",{children:\"In addition to these, there are several other areas in which you might want to collect ESG data:\"}),/*#__PURE__*/t(\"ul\",{style:{\"--framer-font-size\":\"17px\",\"--framer-line-height\":\"26px\",\"--framer-text-alignment\":\"start\",\"--framer-text-color\":\"rgb(116, 125, 136)\",\"--framer-text-transform\":\"none\"},children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"17px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"Focusing on labour laws in businesses with labour-intensive operations\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"17px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"Controversial working conditions to be monitored\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"17px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"Unionisation issues to be dealt with sensitively\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"17px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"Safety of customer data and protection against breaches\"})})]}),/*#__PURE__*/t(\"p\",{children:[\"It’s also worth exploring how your metrics tie in with the \",/*#__PURE__*/e(o,{href:\"https://sdgs.un.org/goals\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Sustainable Development Goals (SDGs)\"})}),\" that the United Nations have come up with. This helps you ensure that you’re working towards goals that matter to society as a whole.\\xa0\"]}),/*#__PURE__*/e(\"p\",{children:\"Finally, you can create your own custom metrics to suit your needs. For example, if you are trying to encourage women into senior management roles, you can measure the number of women employees opting into coaching and training and those being promoted to the positions.\"}),/*#__PURE__*/e(\"h3\",{children:\"Don’t forget to ask\"}),/*#__PURE__*/e(\"p\",{children:\"Tracking the above common metrics or ‘stakeholder capitalism metrics’, as they are called, is great. But, sometimes, it’s also worth asking your customers, employees and shareholders for feedback.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"For example, you can design an employee satisfaction survey to get more insights into the impact and success of your ESG social initiatives.\"}),/*#__PURE__*/t(\"p\",{children:[\"You can also conduct third-party surveys to effectively gauge employee, customer and investor perception towards the company and its social policies. One such solution is \",/*#__PURE__*/e(o,{href:\"https://www.greatplacetowork.com/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Great Place to Work\"})}),\" who organise an annual survey to measure employee satisfaction. The companies that make the list can wear their logo as a badge of honour to help attract better job applicants and more Investors.\"]}),/*#__PURE__*/e(\"p\",{children:\"You should also examine the skill set of your board with regard to social factors. This is where the social and governance aspects of ESG overlap. Identifying missing skills and competencies is key to good governance and helps you craft the best team possible to guide the business through all challenges, including those social initiatives.\"}),/*#__PURE__*/e(\"h2\",{children:\"Examples: Setting social goals\"}),/*#__PURE__*/e(\"p\",{children:\"Carefully thought out social metrics will allow you to understand where you can improve and integrate good practices into your company value chain. Here are a few examples of actions that companies have taken based on their social metrics.\"}),/*#__PURE__*/t(\"ul\",{style:{\"--framer-font-size\":\"17px\",\"--framer-line-height\":\"26px\",\"--framer-text-alignment\":\"start\",\"--framer-text-color\":\"rgb(116, 125, 136)\",\"--framer-text-transform\":\"none\"},children:[/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"17px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Closing the wage gap\"}),\": A hot topic of debate, companies whose workforce operates in a general skill-based environment can ensure that men and women are paid equally for equal work. For example, retailer GAP has introduced \",/*#__PURE__*/e(o,{href:\"https://www.gapinc.com/en-us/values/equal-pay\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"equal pay for equal work\"})}),\" policy for the men and women working in its stores.\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"17px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Creating a culture of innovation:\"}),\" People thrive when you give them the freedom to experiment and do what they enjoy. And the business thrives as well. For example, 3M\\xa0 set the goal to develop a culture of innovation by encouraging its workforce to devote 15% of their time to projects outside the normal scope of their jobs. The company now files about \",/*#__PURE__*/e(o,{href:\"https://www.fastcompany.com/best-workplaces-for-innovators/2019\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"3000 patents every year\"})}),\".\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"17px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"strong\",{children:\"Giving back to the community:\"}),\" Nowadays, companies should focus on community engagement and embed it in their operations as \",/*#__PURE__*/e(o,{href:\"https://www.forbes.com/sites/causeintegration/2015/02/19/the-50-companies-that-crush-giving-back/?sh=79ac2f1f502d\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"many have already done\"})}),\". One of the examples is the “\",/*#__PURE__*/e(o,{href:\"https://www.conference-board.org/retrievefile.cfm?filename=TCB-GT-V1N9-Best_Practices_CorpCommunityEngmnt1.pdf&type=subsite\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Moment of Silence\"})}),\"” program launched by FedEx. It encouraged teens and parents to be more careful and put down their devices when crossing the street. This message has reached 241 cities, 907 schools and 580,000 students around the world.\"]})})]}),/*#__PURE__*/t(\"p\",{children:[\"Clarifying strategic objectives is a real governance challenge. Using \",/*#__PURE__*/e(o,{href:\"https://boardclic.com/products-solutions/digital-board-evaluation/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Boardclic’s wealth of benchmark data\"})}),\" during your board evaluations, you can gain an edge on your competition. Our tool allows you to pinpoint critical social challenges and turn them into action points.\"]}),/*#__PURE__*/e(\"h2\",{children:\"Maximising shareholder value\"}),/*#__PURE__*/t(\"p\",{children:[\"Improving the quality of employee lives has always benefited businesses and, by extension, their shareholders. It has been proved back in 1914 when \",/*#__PURE__*/e(o,{href:\"https://www.npr.org/2014/01/27/267145552/the-middle-class-took-off-100-years-ago-thanks-to-henry-ford\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Henry Ford offered $5 a day\"})}),\" for only 8 working hours in a factory at a time when work used to go on for 12-14 hours and pay was half the amount he offered. This proved to be a morale booster and people lined up outside the factory for the job. It also improved productivity and the factory began churning out up to 9,000 Ford Model T’s in a single day. Happier employees meant more profit for Ford and its shareholders.\"]}),/*#__PURE__*/t(\"p\",{children:[\"History is as good a place as any to learn a lesson but there are also many present-day cases to look at. Walmart for example became more accepted by some investors when they declared that they would \",/*#__PURE__*/e(o,{href:\"https://www.spglobal.com/en/research-insights/articles/what-is-the-s-in-esg\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"restrict the type of firearms they sell\"})}),\". This goes to show that focusing on your social impact can have a positive effect on your shareholder base, too.\\xa0\"]}),/*#__PURE__*/t(\"p\",{children:[\"Companies with happy employees will, on average, deliver far more value, \",/*#__PURE__*/e(o,{href:\"https://medium.com/swlh/boosting-employee-happiness-will-increase-your-bottom-line-d9fed17c3197\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"boost profit\"})}),\" and, in turn, increase dividends. Companies that give back to their communities will attract more of the \",/*#__PURE__*/e(o,{href:\"https://www.cnbc.com/2021/05/21/millennials-spurred-growth-in-esg-investing-now-all-ages-are-on-board.html\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"growing number of investors who believe in sustainability\"})}),\". So, if you dedicate the time and effort to track your social metrics, you can expect to grow your business.\\xa0\"]}),/*#__PURE__*/e(\"h2\",{children:\"Disclosure & Regulation\"}),/*#__PURE__*/t(\"p\",{children:[\"The growing awareness amongst investors and the clamour for sustainable products amongst customers has caused regulators to take notice. \",/*#__PURE__*/e(o,{href:\"https://www.paulweiss.com/insights/esg-thought-leadership/publications/in-global-first-the-united-kingdom-moves-toward-mandatory-climate-related-disclosures-by-2025?id=38652\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"The UK recently became the first country in the world\"})}),\" to make climate-related disclosures mandatory by 2025. Soon after, the EU proposed its \",/*#__PURE__*/e(o,{href:\"https://ec.europa.eu/info/business-economy-euro/company-reporting-and-auditing/company-reporting/corporate-sustainability-reporting_en\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Corporate Sustainability Directive (CSRD)\"})}),\" and the USA began \",/*#__PURE__*/e(o,{href:\"https://www.sec.gov/news/public-statement/coates-esg-disclosure-keeping-pace-031121\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"thinking about\"})}),\" frameworks to regulate the disclosure of ESG information.\"]}),/*#__PURE__*/e(\"p\",{children:\"But there is no use waiting for the laws to come into effect before taking the necessary steps. Developing goals and working to achieve them will lead to significant benefits for your business, employees and shareholders.\"}),/*#__PURE__*/t(\"p\",{children:[\"And it’s not difficult to begin working on proper disclosure. There are many organisations out there such as the \",/*#__PURE__*/e(o,{href:\"https://www.sasb.org/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Sustainability Accounting Standards Board (SASB)\"})}),\" that provide complete \",/*#__PURE__*/e(o,{href:\"https://boardclic.com/blog/esg-reporting-frameworks/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"ESG frameworks\"})}),\" with guidelines and metrics to start tracking and measuring your performance. These can be integrated into your normal compliance program and can even be made part of Enterprise Resource Planning tools for easy and thorough management. So, once ESG disclosure is a legal requirement, you will already have a basis to work from.\"]}),/*#__PURE__*/e(\"h1\",{children:\"Conclusion\"}),/*#__PURE__*/e(\"p\",{children:\"The ‘S’ in ESG needs to be measured and monitored. But, because of the vast scope of human nature and behaviour, the metrics required range from objective to completely abstract and there is no one size fits all. This is where you also need to align the ‘G’, too. Building your strongest board, with the skills required to take on social challenges and with real accountability to each other provides the basis to set tangible, valuable objectives.\"}),/*#__PURE__*/e(\"p\",{children:\"Staying focused on your employee engagement and overall level of happiness will translate into long-term value, despite the initial upfront expense. Measuring and disclosing your ESG social performance may not be mandatory yet but it will attract customers and investors. In the end, when you take care of the social impact of your company, you will improve your bottom line, too.\"})]});export const richText3=/*#__PURE__*/t(a.Fragment,{children:[/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(o,{href:\"https://www.jpmorgan.com/insights/research/covid-19-esg-investing\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"JP Morgan reports\"})}),\" that many business experts have begun drawing comparisons between the impact of the virus and the likely issues related to climate change, for example.\"]}),/*#__PURE__*/t(\"p\",{children:[\"In addition, the recent virtual conference Beyond the Pandemic Crisis in June 2021 also stressed the importance of ESG. The CEO of Bursa Malaysia Bhd, \",/*#__PURE__*/e(o,{href:\"https://www.theedgemarkets.com/article/companies-good-esg-practices-more-resilient-during-covid19-pandemic-says-bursa-ceo\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Datuk Muhamad Umar Swift said\"})}),\" that businesses with existing ESG practices had proved to be more resilient during the coronavirus pandemic than those that did not. He put this down to the concerns of the newest generations of investors. He told the conference:\"]}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/t(\"em\",{children:[\"“The Covid-19 pandemic is widely seen to have given sustainability further impetus. Millennials and Gen Z are showing greater concern with respect to sustainability and changing expectations of businesses’ role in improving society and protecting the environment.”\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{})]}),\"WHAT IS ESG COMPLIANCE?\"]}),/*#__PURE__*/t(\"p\",{children:[\"ESG compliance can encompass abiding by regulations relating to ESG that are in place in different territories, such as the \",/*#__PURE__*/e(o,{href:\"https://ec.europa.eu/info/business-economy-euro/banking-and-finance/sustainable-finance/eu-taxonomy-sustainable-activities_en\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"EU’s Taxonomy Regulation\"})}),\". It might also mean upholding the various third-party \",/*#__PURE__*/e(o,{href:\"https://boardclic.com/blog/esg-reporting-frameworks/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"ESG reporting frameworks\"})}),\" that relate to sustainability in business.\"]}),/*#__PURE__*/t(\"p\",{children:[\"In a broader sense, there is a necessity to ‘comply’ with the expectations and wishes of \",/*#__PURE__*/e(\"strong\",{children:\"investors\"}),\" who look for sustainable options when buying stock. This is a shifting landscape and involves nurturing \",/*#__PURE__*/e(o,{href:\"https://blog.corporateservices.euronext.com/en/shareholder-engagement-programme\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"positive engagement with shareholders\"})}),\" to fully understand their desires and priorities.\"]}),/*#__PURE__*/e(\"h2\",{children:\"Why should your organisation care about esg compliance?\"}),/*#__PURE__*/e(\"p\",{children:\"ESG compliance is no longer a tokenistic PR device, it is an essential element of running a successful and forward-thinking business. Embracing ESG can also add great value to your organisation. Here are the main benefits ESG compliance can bring to your organisation.\"}),/*#__PURE__*/e(\"h3\",{children:/*#__PURE__*/e(o,{href:\"https://www.globalreporting.org/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Meet investor demands\"})})}),/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(o,{href:\"https://corpgov.law.harvard.edu/2020/11/30/preparing-for-shareholder-activism-in-the-wake-of-covid-19/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Shareholder activism is on the rise\"})}),\" again following a lull during the early days of the pandemic and this means you have to listen to what investors have to say. Norway’s Oil Fund, which holds US$1.3 trillion of investments has recently\",/*#__PURE__*/e(o,{href:\"https://www.ft.com/content/f6649a49-03cb-47ef-89ab-2181ae9b30c2\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\" pledged to become a global leader in responsible investments\"})}),\". It will screen each of the 500 issuers it adds to its index every year to ensure ESG compliance and has focused on voting against excessive executive pay packages.\"]}),/*#__PURE__*/e(\"h3\",{children:/*#__PURE__*/e(o,{href:\"https://www.sasb.org/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Reduce business cost\"})})}),/*#__PURE__*/t(\"p\",{children:[\"Reducing the usage of fossil fuels, cutting out water and energy waste and moving to paperless offices, for example, can cut many of your expenses, as well as improve your green credentials. \",/*#__PURE__*/e(o,{href:\"https://www.mckinsey.com/~/media/McKinsey/Business%20Functions/Strategy%20and%20Corporate%20Finance/Our%20Insights/Five%20ways%20that%20ESG%20creates%20value/Five-ways-that-ESG-creates-value.ashx\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"McKinsey reports\"})}),\" that organisations can cut their costs by up to 60% by addressing ESG concerns.\"]}),/*#__PURE__*/e(\"h3\",{children:/*#__PURE__*/e(o,{href:\"https://integratedreporting.org/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Improve the top-line performance\"})})}),/*#__PURE__*/e(\"p\",{children:\"Many customers prefer to shop with ethical businesses and do not mind paying a premium to do so. So, showing a proactive approach to sustainability issues and achieving greater transparency about the results is essential for building a stronger corporate brand.\"}),/*#__PURE__*/e(\"p\",{children:\"Additionally, strong ESG policies can help when tendering for projects, which can encourage more businesses to follow ESG best practices.\"}),/*#__PURE__*/e(\"h3\",{children:/*#__PURE__*/e(o,{href:\"https://shareaction.org/workforce-disclosure-initiative/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Attract and keep the best talent\"})})}),/*#__PURE__*/t(\"p\",{children:[\"It makes sense that a business that looks after its workforce will attract the best talent and keep them for longer. But it also goes deeper than that. Millennials and Gen Z are \",/*#__PURE__*/e(o,{href:\"https://www.forbes.com/sites/afdhelaziz/2020/03/07/the-power-of-purpose-the-business-case-for-purpose-all-the-data-you-were-looking-for-pt-2/?sh=61c9b2b83cf7\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"increasingly interested\"})}),\" in whether the business they work for has the same goals and values as they do. If these are aligned, a bond is created between employee and employer that keeps the latter emotionally invested.\"]}),/*#__PURE__*/e(\"h2\",{children:\"Are there mandatory disclosure obligations?\"}),/*#__PURE__*/e(\"p\",{children:\"There are a number of pieces of legislation relating to ESG around the world, including mandatory disclosure obligations in some jurisdictions.\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"strong\",{children:\"Territory\"})}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"strong\",{children:\"ESG Regulations\"})}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"em\",{children:\"European Union\"})}),/*#__PURE__*/t(\"p\",{children:[\"The \",/*#__PURE__*/e(o,{href:\"https://eur-lex.europa.eu/eli/reg/2019/2088/oj\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Sustainable Finance Disclosure Regulation\"})}),\" (SFDR) mandates that organisations must report on any adverse impacts relating to sustainability factors.\\xa0\\xa0The \",/*#__PURE__*/e(o,{href:\"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=PI_COM:C(2021)2800\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"EU Taxonomy Climate Delegated Act\"})}),\" was formally adopted in June 2021 and clarifies the economic activities that the union feels will best contribute to meeting its environmental targets, including its goal to become greenhouse gas neutral by 2050.\\xa0The EU also issued proposals in June 2021 to amend the reporting requirements of 2014’s \",/*#__PURE__*/e(o,{href:\"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32014L0095\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Non-Financial Reporting Directive\"})}),\" (NFRD). The new Corporate Sustainability Reporting Directive (\",/*#__PURE__*/e(o,{href:\"https://ec.europa.eu/info/publications/210421-sustainable-finance-communication_en#taxonomy\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"CSRD\"})}),\") would require ESG reporting to be audited, among other things.\"]}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"em\",{children:\"United Kingdom\"})}),/*#__PURE__*/t(\"p\",{children:[\"The UK’s Financial Conduct Authority (FCA) \",/*#__PURE__*/e(o,{href:\"https://www.ftadviser.com/regulation/2021/06/22/fca-sets-out-climate-related-disclosure-rules/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"released consultations in June 2021\"})}),\" relating to mandatory disclosures on ESG topics. The aim is to provide insight across the investment chain and make ESG-related decision making easier for investors and customers.\\xa0\",/*#__PURE__*/e(o,{href:\"https://www.esgtoday.com/uk-becomes-first-country-in-the-world-to-make-tcfd-aligned-disclosure-mandatory/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"UK green taxonomy\"})}),\" is being developed, based on the EU version, in order to clarify which activities are deemed to be environmentally sustainable.\\xa0\"]}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"em\",{children:\"United States\"})}),/*#__PURE__*/t(\"p\",{children:[\"The US Securities and Exchange Commission announced a \",/*#__PURE__*/e(o,{href:\"https://www.nortonrosefulbright.com/en/knowledge/publications/3faa97aa/sec-makes-clear-that-an-esg-disclosure-framework-is-coming\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"consultation on climate change disclosures\"})}),\" for businesses in March 2021. These guidelines are seen as the first step towards a mandatory ESG disclosure framework in the long term.\\xa0\"]}),/*#__PURE__*/e(\"h2\",{children:\"Voluntary reporting\"}),/*#__PURE__*/e(\"p\",{children:\"In the absence of mandatory disclosure reporting in some parts of the world, many businesses have undertaken voluntary reporting as a way of showing shareholders how seriously they take ESG risks. To give the results some context, organisations have been aligning their ESG efforts with various compliance frameworks. Here are some examples:\"}),/*#__PURE__*/e(\"h3\",{children:/*#__PURE__*/e(o,{href:\"https://www.fsb-tcfd.org/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"TCFD\"})})}),/*#__PURE__*/e(\"p\",{children:\"The framework on which the UK’s mandatory disclosure requirements will be based is already renowned for its general and sector-specific guidance. However, this tool only measures climate-related factors.\"}),/*#__PURE__*/e(\"h3\",{children:/*#__PURE__*/e(o,{href:\"https://www.sasb.org/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"SASB\"})})}),/*#__PURE__*/e(\"p\",{children:\"The Sustainability Accounting Standards Board provides a framework on which to base ESG metrics. From climate to water management and other environmental issues, data security to health and safety, this index is sector-specific.\"}),/*#__PURE__*/e(\"h3\",{children:/*#__PURE__*/e(o,{href:\"https://www.globalreporting.org/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"GRI\"})})}),/*#__PURE__*/e(\"p\",{children:\"The Global Reporting Initiative offers universal topics as well as topic standards in the economic, environmental or social arenas.\"}),/*#__PURE__*/e(\"h3\",{children:/*#__PURE__*/e(o,{href:\"https://www.iso.org/standard/68507.html\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"ISO 14090\"})})}),/*#__PURE__*/e(\"p\",{children:\"This is the standard that refers to how to make decisions for your organisation based on the risks and impacts of climate change.\"}),/*#__PURE__*/e(\"h3\",{children:\"Boardclic’s ESG Index\"}),/*#__PURE__*/t(\"p\",{children:[\"You can compare your ESG performance against peers using the benchmark that we have developed over many years from \",/*#__PURE__*/e(o,{href:\"https://boardclic.com/esg-index/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"our questions and historical data\"})}),\". It features elements such as sustainable value creation, stakeholder management, corporate health, diversity, culture, and climate impact.\"]}),/*#__PURE__*/e(\"h2\",{children:\"The compliance officer's role\"}),/*#__PURE__*/e(\"p\",{children:\"The role of the compliance officer is ever-changing as CEOs and boards begin to realise the importance of an ever-wider range of ESG factors. For example, the death of George Floyd, along with the subsequent Black Lives Matter protests and discussion about the nature of race in the modern world, have added an extra emphasis on businesses’ equality, diversity and inclusion policies. Compliance officers must keep an ear to the ground to stay ahead of the increasing spread of topics that can influence ESG requirements.\"}),/*#__PURE__*/e(\"h3\",{children:\"How ESG impacts your compliance program\"}),/*#__PURE__*/e(\"p\",{children:\"The officer needs to keep ESG issues in mind at all times. With marketing, for example, they should be sure to drill down on any claims made about sustainability. Much of the current legislative moves around the world are aimed at combating greenwashing, where businesses overstate their environmental credentials. One question to ask is:\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"em\",{children:\"How can you prove the claims you are making and how do the company’s actions affect its ESG deliverability?\"})}),/*#__PURE__*/e(\"p\",{children:\"In addition, during due diligence, you should be sure that any third party you work with, the supply chain and all other stakeholders involved are also as green as they claim. Failing to do so can affect your non-financial performance.\"}),/*#__PURE__*/e(\"h2\",{children:\"Conclusion\"}),/*#__PURE__*/e(\"p\",{children:\"There are a number of regulatory requirements about to hit businesses in terms of ESG compliance. This will mean more paperwork and increased administration workload, but the result is worth it. Adhering to ESG requirements not only keeps your business on the right side of the law but also makes it a more attractive prospect to the new generation of investors.\"}),/*#__PURE__*/e(\"p\",{children:\"Currently, for many businesses, the biggest mystery around ESG is knowing what a ‘good’ score is. With dozens of standards floating around and the lack of clarification from governments, the best you can do is understand how your peers are doing.\"}),/*#__PURE__*/t(\"p\",{children:[\"This is where our ESG index (updated monthly) can help you. It can provide you with a benchmark to measure your performance over time as well as against your competitors. You can \",/*#__PURE__*/e(o,{href:\"https://boardclic.com/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"learn more here\"})}),\".\"]})]});export const richText4=/*#__PURE__*/t(a.Fragment,{children:[/*#__PURE__*/e(\"p\",{children:\"If the people that work here are the brains of BoardClic, then the technology we’re using to upend and digitalize our sector is the heart. As we add to our suite, as we improve the predictiveness of our software and as we inject our platform with deeper more strategic tools, our technology has to evolve.\"}),/*#__PURE__*/e(\"p\",{children:\"That’s why it gives me great pleasure to tell you that we’ve hired a new tech lead, Johan Tell.\"}),/*#__PURE__*/e(\"p\",{children:\"Johan has extensive experience as a developer and a leader of multifaceted technology platforms. He will be absolutely critical in allowing us to realize our ambitious product vision. With his formidable drive we’ll be able to ramp up product development and release more features faster. Our customers demand nothing less and are counting on us to keep innovating to help them stay ahead and translate insight into a roadmap for strategic corporate improvement.\"}),/*#__PURE__*/e(\"p\",{children:\"Johan joins BoardClic from B2B SaaS company Universal Avenue.\"}),/*#__PURE__*/e(\"h5\",{children:\"Hi Johan and welcome to BoardClic!\"}),/*#__PURE__*/e(\"p\",{children:\"– Thank you so much, it’s a pleasure to join the team.\"}),/*#__PURE__*/e(\"h5\",{children:\"What drew you to BoardClic originally?\"}),/*#__PURE__*/e(\"p\",{children:\"–\\xa0I’d say there were many reasons why BoardClic was appealing to me. The product itself is placing itself in a market that hasn’t seen much exploration which means there will be a lot of room for new ideas, concepts and opportunities. Taking part early in such a journey is always something I’ve wanted to do and after having experienced the pure passion from our founders I felt that it was a great fit for me!\"}),/*#__PURE__*/e(\"h5\",{children:\"What is your role at BordClic?\"}),/*#__PURE__*/e(\"p\",{children:\"– I’ll be working as a tech lead, taking responsibilities around the technical parts of our products. That means taking part in all the steps of planning, building and maintaining features and generally put us on a trajectory that lets us keep doing good things for many years to come.\"}),/*#__PURE__*/e(\"h5\",{children:\"What motivates you to wake up and go to work?\"}),/*#__PURE__*/e(\"p\",{children:\"– I’m a person driven by quality and improvement with a goal to build helpful things that are delightful to use. Every day at work is another step towards that and feeling like I’ve made a difference no matter how small adds the fuel I need to keep going.\"})]});export const richText5=/*#__PURE__*/t(a.Fragment,{children:[/*#__PURE__*/e(\"p\",{children:\"And more often than not, feedback can be nonspecific and reflect on a person’s popularity more than on their effectiveness.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"Despite these real shortcomings, the benefits of peer evaluations in the boardroom can be worth it.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"With a few caveats.\"}),/*#__PURE__*/e(\"p\",{children:\"You need the right tools, and you need the right reasons to use them.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"Here’s why they can build better boards.\"}),/*#__PURE__*/e(\"h2\",{children:\"Drive board excellence\"}),/*#__PURE__*/e(\"p\",{children:\"Getting where you want to get without knowing where everyone thinks you’re standing is tough. Evaluation feedback is a wealth of candid information on the perspectives that shape performance at the individual and team levels. Assuming everyone is motivated by improving the organization’s overall performance, an honest process will forge a stronger team. Key factors that drive board excellence 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:\"Board members get an opportunity to express opinions and ideas in open-ended questions—who knows what innovation will result?\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"Directors feel freer to question the status quo and established norms—think “no more groupthink.”\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"All members feel equal in a well-managed peer evaluation process—clearly inclusive. Great.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"The process promotes reflection from individual members about their roles and contribution—first stone anyone?\"})})]}),/*#__PURE__*/e(\"h2\",{children:\"Create alignment\"}),/*#__PURE__*/e(\"p\",{children:\"A peer evaluation keeps expectations and priorities clear between board members. It also:\\xa0\"}),/*#__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:\"Promotes alignment with the overall expectations of shareholders and stakeholders.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"Lets board members address the individual needs of different stakeholders without being confrontational.\"})})]}),/*#__PURE__*/e(\"h2\",{children:\"Highlight individual performance\"}),/*#__PURE__*/e(\"p\",{children:\"A peer evaluation ensures that the directors recruited to boards have a perspective that stays close to those set out by the owners. It can also:\"}),/*#__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:\"Tell you what competencies are needed to complement existing board members when recruiting a new director.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"Help correct misunderstandings between directors and owners before they damage total board performance.\\xa0\"})})]}),/*#__PURE__*/e(\"h2\",{children:\"Provide struture to director feedback\"}),/*#__PURE__*/e(\"p\",{children:\"Peer evaluations provide structured processes for director feedback in an atmosphere that supports growth and improved performance for the individual. Also:\"}),/*#__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:\"Directors are free to share detailed and sensitive information.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"And get to evaluate their own performance and identify areas of potential improvement without the fear of criticism from colleagues.\"})})]}),/*#__PURE__*/e(\"h2\",{children:\"And finally, obviously, measuring director performance\"}),/*#__PURE__*/e(\"p\",{children:\"Peer evaluation recognises top performers and shows how colleagues value their contribution. That recognition could even act as a catalyst for improved performance for the rest of the board. And:\"}),/*#__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:\"Age and tenure become less critical as criteria for selecting directors to fill vacant positions.\\xa0\\xa0\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"If something changes and someone becomes less suitable, you’ll find out in time.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"Dissatisfaction over the conduct of a peer is identified early, before the problem escalates.\"})})]}),/*#__PURE__*/e(\"p\",{children:\"All that is to say that peer evaluations hold many advantages for boards in all sorts of different organizations and let directors members channel their contribution to team excellence.\"}),/*#__PURE__*/e(\"p\",{children:\"The fundamental factor for success here is to have an open discussion about the benefits of a peer evaluation exercise in the board before getting started.\"}),/*#__PURE__*/e(\"p\",{children:\"The expectations of the benefits should be clear to everyone involved. And, of course, having an intuitive and powerful software tool to manage the process makes things smoother.\"})]});export const richText6=/*#__PURE__*/t(a.Fragment,{children:[/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"em\",{children:/*#__PURE__*/e(\"strong\",{children:\"“We believe that sustainability should be our new standard for investing.”\"})}),/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"em\",{children:\"— BlackRock\"})]}),/*#__PURE__*/e(\"p\",{children:\"Sustainability for organisations can take on multiple shapes — from creating sustainable internal processes to achieving positive long-term outcomes through these processes for employees, stakeholders, and shareholders alike.\"}),/*#__PURE__*/t(\"p\",{children:[\"While this is about setting \",/*#__PURE__*/e(o,{href:\"https://sustainablebrands.com/read/new-metrics/transformational-goals-in-corporate-strategy-a-review-of-the-esg-goals-of-50-global-companies\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"ESG goals\"})}),\", it is also about \",/*#__PURE__*/e(\"em\",{children:\"measuring your progress\"}),\" towards them. This is where ESG frameworks come in to provide the much-needed measuring stick.\"]}),/*#__PURE__*/e(\"p\",{children:\"There is no uniform standard but there are various frameworks any organisation can reference or use as a guide to establishing a complete environmental, social, and governance (ESG) reporting process. These are all different and, sometimes, industry-specific which may be confusing.\"}),/*#__PURE__*/e(\"p\",{children:\"Question is, which ESG framework may be right for you and why?\"}),/*#__PURE__*/t(\"p\",{children:[\"That is what we will explore in this article. Hopefully, it will help you reach a definitive conclusion or, at the very least, provide useful insight.\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{}),\"WHY IS ESG REPORTING NECESSARY?\"]}),/*#__PURE__*/t(\"p\",{children:[\"Basic ESG reporting \",/*#__PURE__*/e(o,{href:\"https://ec.europa.eu/info/business-economy-euro/company-reporting-and-auditing/company-reporting/corporate-sustainability-reporting_en\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"will soon be mandatory in the EU\"})}),\". But, where it’s not, keeping account of your environmental, social, and governance metrics is important for your organisation’s long-term health and for keeping your investors happy.\"]}),/*#__PURE__*/t(\"p\",{children:[\"According to one \",/*#__PURE__*/e(o,{href:\"https://www.edelman.com/sites/g/files/aatuss191/files/2020-11/Edelman%202020%20Institutional%20Investor%20Trust_FINAL.pdf\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Edelman survey\"})}),\", a full 88% of institutional investors believe that companies that prioritise ESG initiatives \",/*#__PURE__*/e(\"strong\",{children:\"represent better opportunities\"}),\" for long-term returns than companies that do not.\"]}),/*#__PURE__*/e(\"p\",{children:\"This makes a lot of sense since long-term viability and profitability are two of the primary factors guiding any investor’s decision-making process, whether they are an individual or an institution.\"}),/*#__PURE__*/e(\"p\",{children:\"Measuring and reporting ESG is also an internal opportunity to innovate, identify risks, and possibly even reduce costs in areas you evaluate as needing improvement.\"}),/*#__PURE__*/e(\"p\",{children:\"By adopting an ESG reporting framework now, you stay ahead of the curve and show all stakeholders that you are serious about sustainability.\"}),/*#__PURE__*/e(\"h2\",{children:\"ESG frameworks and standards\"}),/*#__PURE__*/e(\"p\",{children:\"Since ESG reporting is very loosely regulated at this point, it’s up to you to choose a framework or frameworks to adhere to.\"}),/*#__PURE__*/e(\"p\",{children:\"Thankfully, there are multiple standards that can help your company establish ESG performance measurement. Here are a few of the most widely used and recognized.\"}),/*#__PURE__*/e(\"h3\",{children:/*#__PURE__*/e(o,{href:\"https://www.globalreporting.org/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"The Global Reporting Initiative (GRI)\"})})}),/*#__PURE__*/e(\"p\",{children:\"This international, independent body helps businesses, governments and other organisations understand, develop and communicate sustainability metrics. The guidelines, also known as ‘GRI standards’, can be downloaded freely on their website. GRI relies on voluntary disclosure. You share with them a report covering the topics that are most relevant to your organisation.\"}),/*#__PURE__*/e(\"h3\",{children:/*#__PURE__*/e(o,{href:\"https://www.sasb.org/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"The Sustainability Accounting Standards Board (SASB)\"})})}),/*#__PURE__*/e(\"p\",{children:\"This non-profit organization has developed a global standard for identifying, managing and communicating financially-material sustainability information to investors.\"}),/*#__PURE__*/t(\"p\",{children:[\"These standards are explained through a \",/*#__PURE__*/e(o,{href:\"https://www.sasb.org/standards-overview/materiality-map/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"materiality map\"})}),\" and contain a complete set of 77 industry-specific metrics. SASB is a great choice when you want to communicate the value you create in investor language. Besides, you can use it in conjunction with another framework. Many companies use SASB along with GRI, for example.\"]}),/*#__PURE__*/e(\"h3\",{children:/*#__PURE__*/e(o,{href:\"https://integratedreporting.org/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"International Integrated Reporting Council (IIRC)\"})})}),/*#__PURE__*/e(\"p\",{children:\"Originally established in 2010, the IIRC published its own framework for integrated reporting which they define as “a process founded on integrated thinking that results in a periodic integrated report by an organization about value creation over time and related communications regarding aspects of value creation.”\"}),/*#__PURE__*/t(\"p\",{children:[\"IIRC is often used together with SASB standards. The organisation provides extensive information on their website regarding their \",/*#__PURE__*/e(o,{href:\"https://integratedreporting.org/wp-content/uploads/2021/01/InternationalIntegratedReportingFramework.pdf\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"International Integrated Reporting Framework\"})}),\" and its six pillars.\"]}),/*#__PURE__*/e(\"h3\",{children:/*#__PURE__*/e(o,{href:\"https://shareaction.org/workforce-disclosure-initiative/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"The Workforce Disclosure Initiative (WDI)\"})})}),/*#__PURE__*/t(\"p\",{children:[\"This is an investor collective created to help companies better communicate labour practices to stakeholders in an efficient way. Its website sports a list of reporting companies that have opted into the framework and is \",/*#__PURE__*/e(o,{href:\"https://shareaction.org/workforce-disclosure-initiative/why-disclose-to-the-wdi/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"accepting the applications\"})}),\" of those who want to start disclosing their ESG metrics.\"]}),/*#__PURE__*/e(\"h3\",{children:/*#__PURE__*/e(o,{href:\"https://www.fsb-tcfd.org/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"The Task Force on Climate-Related Financial Disclosures (TCFD)\"})})}),/*#__PURE__*/t(\"p\",{children:[\"An initiative of The Financial Stability Board, the task force was created to improve and increase reporting of climate-related financial risks. This will be a very interesting standard to track over the long term, to see which companies report climate-related financial information and also how they fare. What’s even more interesting is that \",/*#__PURE__*/e(o,{href:\"https://www.cdsb.net/mandatory-reporting/1175/cdsb-welcomes-uk%E2%80%99s-leadership-mandatory-tcfd-implementation\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"the UK is considering implementing\"})}),\" the TCFD requirements in its own legislation.\"]}),/*#__PURE__*/t(\"p\",{children:[\"The TCFD recommendations for reporting can be found in their \",/*#__PURE__*/e(o,{href:\"https://www.tcfdhub.org/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"knowledge base\"})}),\", along with in-depth tutorials on how to adhere to their standards.\"]}),/*#__PURE__*/e(\"h3\",{children:/*#__PURE__*/e(o,{href:\"https://www.cdsb.net/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"The Climate Disclosure Standards Board (CDSB)\"})})}),/*#__PURE__*/t(\"p\",{children:[\"This is an international consortium of NGOs that are set to help organisations integrate information related to climate change in their financial reporting. The CDSB has \",/*#__PURE__*/e(o,{href:\"https://www.cdsb.net/what-we-do/reporting-frameworks\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"developed its own framework\"})}),\" which is currently used by 374 companies across 32 countries.\"]}),/*#__PURE__*/e(\"h2\",{children:\"Third-party standards\"}),/*#__PURE__*/e(\"h3\",{children:/*#__PURE__*/e(o,{href:\"https://old-website.boardclic.com/esg-index/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Boardclic’s ESG Index\"})})}),/*#__PURE__*/t(\"p\",{children:[\"Based on data that we’ve been gathering even before Boardclic was created, our ESG index is a benchmark that gives you a clear view of how you’re performing in comparison to other companies.\\xa0 It enables you to get a better idea of where you stand, how well you are doing and which areas you can improve. What’s unique about Boardclic’s ESG index is that it’s \",/*#__PURE__*/e(o,{href:\"https://old-website.boardclic.com/blog/boardclic-dips-into-deep-data-lake-to-launch-esg-benchmark/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"based on our own set of questions and historical data\"})}),\". We can’t reveal the exact algorithm but the topics we cover include sustainable value creation, stakeholder management, corporate health, diversity, culture, and climate impact.\"]}),/*#__PURE__*/e(\"h3\",{children:/*#__PURE__*/e(o,{href:\"https://www.msci.com/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Morgan Stanley Capital International (MSCI)\"})})}),/*#__PURE__*/e(\"p\",{children:\"This is one of many third-party organisations that don’t directly offer an ESG framework you can implement. Instead, they collect data from various sources such as NGOs, company disclosures, sustainability reports, proxy reports, and many more.\"}),/*#__PURE__*/t(\"p\",{children:[\"Based on this data, an ESG index is calculated that is used by \",/*#__PURE__*/e(o,{href:\"https://www.msci.com/our-solutions/esg-investing/esg-indexes\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"investors\"})}),\" to evaluate companies. While you can’t influence your MSCI rating (if you have one), it’s a good idea to browse their website and familiarise yourself with their reports. Perhaps this can help you fine-tune your internal ESG framework to cover more of the points that investors are interested in.\"]}),/*#__PURE__*/e(\"h2\",{children:\"Tips on choosing your framework\"}),/*#__PURE__*/e(\"p\",{children:\"The frameworks outlined in the previous section should give you plenty to consider. Still, if you’re wondering which one may be right for your organisation, here are some tips to help make your decision easier:\"}),/*#__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:\"Know your organisation\"}),\". Keep your sector and industry top of mind when deciding which framework is most appropriate to implement. This is especially true for some of the frameworks listed above such as the SASB and their set of 77 industry-specific standards.\"]})}),/*#__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:\"Know whom you are reporting to\"}),\". Think about what drives your reporting needs. Are you going for multiple disclosures across Economic, Environment and Social categories? Are sustainability goals more important? Or do you need a complete framework that covers all financial and non-financial issues? The answer to this may depend on what your shareholders, lenders, community partners, and other stakeholders would like to see.\"]})}),/*#__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:\"Geography matters\"}),\". Disclosure requirements vary by country and region. From the EU’s \",/*#__PURE__*/e(o,{href:\"https://ec.europa.eu/info/business-economy-euro/company-reporting-and-auditing/company-reporting/corporate-sustainability-reporting_en\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Corporate Sustainability Reporting Directive (CSRD)\"})}),\" to the \",/*#__PURE__*/e(o,{href:\"https://www.gov.uk/government/publications/aligning-your-pension-scheme-with-the-taskforce-on-climate-related-financial-disclosures-recommendations/part-4-setting-metrics-and-targets-to-measure-and-manage-climate-related-risk\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"UK’s constantly changing disclosure requirements\"})}),\", having a framework that fits the required reporting standards is essential.\"]})})]}),/*#__PURE__*/e(\"h2\",{children:\"Challenges when adopting ESG frameworks\"}),/*#__PURE__*/e(\"p\",{children:\"Choosing an ESG framework is only half the problem. The other half is adopting and implementing that chosen framework to cover all your objectives.\"}),/*#__PURE__*/e(\"p\",{children:\"Here are just a few things that may arise as you go about this mission.\"}),/*#__PURE__*/e(\"h3\",{children:\"Different Scoring Systems\"}),/*#__PURE__*/e(\"p\",{children:\"“How do we determine our ESG score?”\"}),/*#__PURE__*/e(\"p\",{children:\"This is one of the top questions that businesses ask. It’s also one that has no easy answer.\"}),/*#__PURE__*/e(\"p\",{children:\"An ESG score can be defined as a numerical measure of how an organization is performing on a wide range of environmental, social and governance (ESG) topics.\"}),/*#__PURE__*/e(\"p\",{children:\"It’s both an internal and external way to keep score of how well you stack up on the ESG front. Think of it as a sustainability profit and loss statement.\"}),/*#__PURE__*/e(\"p\",{children:\"However, your score depends on who is calculating it. So, the right question to ask is,\"}),/*#__PURE__*/e(\"p\",{children:\"“What is our ESG score against [X framework/standard]?\"}),/*#__PURE__*/t(\"p\",{children:[\"One example of an ESG rating the \",/*#__PURE__*/e(o,{href:\"https://old-website.boardclic.com/esg-index/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Boardclic ESG Index\"})}),\" which gives you an idea of how other companies are currently performing in terms of Environment, Social and Governance factors. Another example is the Morgan Stanley Capital International (MSCI) \",/*#__PURE__*/e(o,{href:\"https://www.msci.com/our-solutions/esg-investing/esg-ratings\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"ESG Ratings\"})}),\", which are designed to measure a company’s long-term resilience to industry material environmental, social and governance (ESG) risks. And a third example is the \",/*#__PURE__*/e(o,{href:\"https://www.issgovernance.com/esg/ratings/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Institutional Shareholder Services (ISS) ESG Ratings & Rankings\"})}),\", which aim to help institutional investors incorporate sustainability into their decision-making.\"]}),/*#__PURE__*/e(\"p\",{children:\"If you look up the same company on both websites, you will see different scores. That’s because rating methodologies are different.\"}),/*#__PURE__*/e(\"p\",{children:\"So, to conclude, the focus for companies should be on reporting, rather than achieving a great rating because the latter can be a very slippery term. As long as you try to keep your reports transparent and you set ESG goals, you are bound to receive a good rating in the end.\"}),/*#__PURE__*/e(\"h3\",{children:\"Lack of Harmonisation\"}),/*#__PURE__*/t(\"p\",{children:[\"Despite or perhaps because of there being literally hundreds of ESG reporting frameworks that now exist, there is a real lack of harmonisation between them. Indeed, this inconsistency is even causing some firms to \",/*#__PURE__*/e(o,{href:\"https://www.prnewswire.com/news-releases/private-equity-firms-that-are-esg-strong-are-likely-to-be-the-winners-as-businesses-reset-following-the-shocks-of-2020-a-new-survey-by-erm-shows-301154859.html\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"pause ESG reporting\"})}),\", due to not being able to settle on a workable framework.\"]}),/*#__PURE__*/e(\"h3\",{children:\"Data quality\"}),/*#__PURE__*/t(\"p\",{children:[\"Since ESG ratings and scores are often based solely on voluntary company self-disclosure and partial data, the accuracy of such ratings \",/*#__PURE__*/e(o,{href:\"https://home.kpmg/cn/en/home/insights/2020/10/esg-ratings-are-not-perfect-but-can-be-a-valuable-tool-for-asset-managers.html\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"has been questioned\"})}),\". Unfortunately, until reporting and disclosure become a standardised practice, much like financial reporting for publicly listed companies, this will continue to be the case.\"]}),/*#__PURE__*/e(\"h2\",{children:\"The future of ESG reporting\"}),/*#__PURE__*/t(\"p\",{children:[\"While a global standard for measuring and reporting sustainability performance may still be years away, an increasing number of NGOs are working independently towards developing standards for sustainability reporting. At the same time, some countries, \",/*#__PURE__*/e(o,{href:\"https://www.instituteforgovernment.org.uk/explainers/net-zero-target\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"including the UK, France, Denmark and New Zealand\"})}),\" have set net-zero emissions goals and adopted the corresponding legislation to push companies to achieve these goals.\"]}),/*#__PURE__*/t(\"p\",{children:[\"There is also some headway being made by one familiar NGO. This NGO is the IFRS Foundation, the body that oversees the work of the International Accounting Standards Board (IASB). The former \",/*#__PURE__*/e(o,{href:\"https://www.ifrs.org/news-and-events/2020/09/ifrs-foundation-trustees-consult-on-global-approach-to-sustainability-reporting/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"proposed\"})}),\" the creation of a Sustainability Standards Board (SSB) in September 2020.\"]}),/*#__PURE__*/e(\"p\",{children:\"Erkki Liikanen, Chair of the IFRS Foundation Trustees, said:\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"em\",{children:\"“Calls for standardisation and comparability of reporting on sustainability and climate-change issues continue to grow as these matters become increasingly important to capital markets. We, therefore, seek to assess whether there is demand for global sustainability standards and whether the IFRS Foundation should play a role in developing such standards.”\"})}),/*#__PURE__*/e(\"p\",{children:\"Whether this proposal is adopted or not remains to be seen, but investors and other market participants may soon get a clearer view of a company’s sustainability performance. Just as they currently have data about company financial performance.\"}),/*#__PURE__*/t(\"p\",{children:[\"And, just like you can compare your profit and sales to those of your peers, it makes sense to compare your ESG score, too. This is where a benchmark like \",/*#__PURE__*/e(o,{href:\"https://old-website.boardclic.com/esg-index/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Boardclic’s ESG index\"})}),\" can be very helpful.\"]}),/*#__PURE__*/e(\"h2\",{children:\"FAQ\"}),/*#__PURE__*/e(\"h3\",{children:\"How many ESG frameworks are there?\"}),/*#__PURE__*/e(\"p\",{children:\"The exact number is fluid and always changing but there are now about a dozen popular frameworks, which are fairly widely used throughout the world. We previously mentioned some in the ESG Frameworks and Standards section above and here are a few more:\"}),/*#__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(o,{href:\"https://www.cdsb.net/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Climate Disclosure Standards Board (CDSB)\"})})})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(o,{href:\"https://www.globalreporting.org/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Global Reporting Initiative (GRI)\"})})})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(o,{href:\"https://www.wri.org/initiatives/science-based-targets\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Science Based Targets initiative (SBTi)\"})})})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(o,{href:\"https://www.fsb-tcfd.org/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Task Force on Climate-related Financial Disclosures (TCFD)\"})})})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(o,{href:\"https://www.unpri.org/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"UN Principles for Responsible Investment (PRI)\"})})})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(o,{href:\"https://www.weforum.org/reports/measuring-stakeholder-capitalism-towards-common-metrics-and-consistent-reporting-of-sustainable-value-creation\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"World Economic Forum (WEF) Stakeholder Capitalism Metrics\"})})})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(o,{href:\"https://www.cdp.net/en\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!0,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Carbon Disclosure Project (CDP)\"})})})})]}),/*#__PURE__*/e(\"h3\",{children:\"What is a good ESG score?\"}),/*#__PURE__*/e(\"p\",{children:\"While an arbitrary measure at this point in time, ESG’s rising importance shouldn’t be ignored. Even though the data is imperfect and the reporting frameworks are not standardised.\"}),/*#__PURE__*/t(\"p\",{children:[\"That being said, a good ESG Rating from one of several ESG rating agencies and research and analysis firms, based on data you provide to them, can be anything at or above 70, on a scale of 1 to 100. This, of course, depends on the methodology and scope that the ratings agency uses. If you want an easy-to-use measuring stick, feel free to refer to \",/*#__PURE__*/e(o,{href:\"https://old-website.boardclic.com/esg-index/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Boardclic’s ESG index\"})}),\".\"]}),/*#__PURE__*/e(\"h3\",{children:\"Is ESG reporting mandatory?\"}),/*#__PURE__*/e(\"p\",{children:\"It depends on your location. All of the above ESG frameworks are completely voluntary at present. But governments around the world are adopting new legislation which will regulate ESG reporting and, eventually, make it mandatory.\"}),/*#__PURE__*/e(\"h2\",{children:\"Conclusion\"}),/*#__PURE__*/e(\"p\",{children:\"We hope that you’ve learned more about environmental, social, and governance (ESG) reporting frameworks and are well on your way to being able to implement one or more of them in your organisation.\"}),/*#__PURE__*/e(\"p\",{children:\"Whether it’s choosing the right ESG framework and standard or averting challenges associated with adopting and implementing a framework, knowing your options is key. It’s also important to be aware of what is likely coming down the pipeline for ESG reporting over the next few years. Then, you’ll be ready to take the lead on your organisation’s sustainability reporting.\"})]});export const richText7=/*#__PURE__*/t(a.Fragment,{children:[/*#__PURE__*/e(\"p\",{children:\"But although it should be a given there are still people who forget that an organization can never be stronger than the sum of the people who work there. At BoardClic we live and die by this credo. Getting the right people in the right place to do the right thing.More and more organizations around the world are discovering that you can leverage the full potential of the individuals that make up your team, group, board—or whatever. With the right tools. That’s where BoardClic comes in. But you need more than the tools.\\xa0\"}),/*#__PURE__*/e(\"h3\",{children:\"Right people\"}),/*#__PURE__*/e(\"p\",{children:\"Obviously, you also need the right people. People with a shared passion for excellence and transparency. BoardClic is no different, and as we expand into new markets and grow our global footprint, we need to add the very best talent that we can.So it gives me great pleasure to announce that we’ve made three fantastic recruitments in the past few months. Frida Moberg has already joined as key account manager, confidently shepherding many new clients as they stride down the path of digitalization and discover deeper strategy. She joined us from HR solutions provider SHL in London. Now, it is time for Gabriella Nor\\xe9n as Client Success Specialist and Rasmus Hallgren as Marketing Director.Adding Rasmus will let us genuinely innovate and excel in our lead generation, brand awareness, and customer communication. He’ll cement our voice in inspiring thought leadership to innovate the corporate governance space. He’s an accomplished, award-winning marketer who joins us most recently from tech startup Hailey HR.\"}),/*#__PURE__*/e(\"h3\",{children:\"Client-first approach\"}),/*#__PURE__*/e(\"p\",{children:\"Gabriella is client first and always. Her passion for ensuring a customer is delighted and not just happy makes a wonderful addition to the Boardclic team. Her talent and personal approach will drive seamless onboarding and support to our customers at every stage in the journey. I’m confident that she’ll drive excellent customer experiences. She joins us from B2B commerce platform Universal Avenue.\\xa0All our recent hires report to Chief Revenue Officer James Payne.And remember, an organization reaches its fullest potential only by allowing people to do their best work. Have a wonderful April!\"})]});export const richText8=/*#__PURE__*/t(a.Fragment,{children:[/*#__PURE__*/e(\"p\",{children:\"Let’s face it, benchmarking has had its fair share of opponents through the decades. Some say it will teach you about the past but nothing about the future, which is where the action’s at. Some say benchmarking makes you a follower, not a leader.\"}),/*#__PURE__*/e(\"p\",{children:\"They are missing the point. Benchmarking is a tool to get insight, and that’s what we do best at BoardClic. There really is no better way to figure out exactly where you stand. Rather than constricting you, good benchmarking shines a light on your operations and gives you ideas of where to move and how to do it. It’s taking a hard cold look at your business and how it is performing. You may not always like what you see. But it’s the way forward.\"}),/*#__PURE__*/e(\"h3\",{children:\"Collecting gold\"}),/*#__PURE__*/e(\"p\",{children:\"In that spirit, BoardClic is launching two new indexes or “Scores” where companies will see and be able to compare themselves to benchmarks. And it’s no shoddy data. BoardClic has been collecting this gold since its own inception and long before that in the Lagercrantz group.\"}),/*#__PURE__*/e(\"p\",{children:\"Just like our already established BoardClic Value Score, these two benchmark measures will draw on a web of responses to a number of questions in our evaluations and from our deep data lake.\"}),/*#__PURE__*/t(\"p\",{children:[\"The one I’d like to highlight today is our new \",/*#__PURE__*/e(o,{href:\"https://old-website.boardclic.com/esg-index/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"BoardClic ESG score\"})}),\". We have always focused on ESG as a key driver for sustainable value creation at BoardClic, because good governance is what makes good companies amazing.\"]}),/*#__PURE__*/e(\"h3\",{children:\"Too much info?\"}),/*#__PURE__*/e(\"p\",{children:\"We haven’t made this particular benchmark data available to customers because originally it was considered too complex or maybe just too much info. I’m happy we’ve reversed that opinion now. The world needs this information and our customers are among the companies that can do the most impactful things with it. That’s even more true because as it turns out the initial benchmark in February 2021 for ESG in our universe of companies is 69/100. That’s not great, I can tell you and there really is no way to run a business without great ESG ambition.\"}),/*#__PURE__*/e(\"p\",{children:\"Key areas that support this index include questions and topics such as sustainable value creation, stakeholder management, corporate health, diversity, culture and climate impact, to name but a few.\"}),/*#__PURE__*/e(\"p\",{children:\"I will say that this is quite an achievement for the development team and I want to thank them all for the hard work they put into making this happen. I promise to get back to you soon about the second new score, the one for Strategy.\"})]});export const richText9=/*#__PURE__*/t(a.Fragment,{children:[/*#__PURE__*/e(\"p\",{children:\"It’s something that my co-founder Monica and I have been talking to clients about for some time now. But I think it took a challenging year like 2020 to jolt directors in many companies into this new way of thinking.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"Going forward, it will be the norm. Remember where you read this first.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"It’s a development that holds true no matter if your company uses external consultants or a more dynamic, modern survey and data-based platform, such as BoardClic, or a combination.\"}),/*#__PURE__*/e(\"p\",{children:\"It also, surprisingly, makes perfect sense.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"Which makes me wonder why it hasn’t become the norm before. But since boardrooms are among the most conservative places on the planet, perhaps it should not be surprising that this development has taken time.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"Here it is:\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"Progressive boards now realize that sustained, systematic board evaluations over several years is far superior to carrying out a review of your boardroom every so often with no continuity.\"}),/*#__PURE__*/e(\"p\",{children:\"This is no different from any other quality control mechanism in a company. A sustained, long-term approach with rich benchmark data yields far better results than a scheduled quick-fix test every few years. The difference is even more striking in the boardroom than it may be further afield in a company.\"}),/*#__PURE__*/e(\"h2\",{children:\"The four benefits of sustained board evaluations\"}),/*#__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:\"A systematic data-backed approach lets you benchmark progress over time against a universe of companies and your own track record.\\xa0\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"Lets you monitor not only where you stand, but where you are going, which is the real benefit of dynamic processes. That alone can make the difference between generating real insights and value for all stakeholders and just producing a wordy report every few years.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"A continuous process, backed by purpose-built, powerful software will quickly become an integral part of the corporate board schedule and will alert directors to opportunities and challenges as they arise rather than document something everyone knows.\"})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/e(\"p\",{children:\"Finally, there‘s the value of signalling to regulators, investors, employees and other stakeholders that your organization takes corporate governance seriously and uses science-backed tools to do so in a measurable way over time.\\xa0\"})})]}),/*#__PURE__*/e(\"p\",{children:\"We all know that ESG and corporate governance is increasingly top of mind for many investors, and I predict that this scrutiny will only intensify in the coming years. Too many companies treat the board evaluation as a legal necessity to conduct rather than the dynamic navigation tool that it really can be.\"}),/*#__PURE__*/e(\"p\",{children:\"Don’t get left behind. It’s time to ditch the idea of a one-time board review that leaves no lasting imprint on strategy, growth and sustainability. Welcome to the age of Multiyear board assessment.\"})]});export const richText10=/*#__PURE__*/t(a.Fragment,{children:[/*#__PURE__*/e(\"p\",{children:\"My co-founder Malin Lombardi and I were sifting through data the other day—the\\xa0 anonymized board and CEO evaluation data that BoardClic regularly collects from our clients. We stumbled across something surprising.\"}),/*#__PURE__*/e(\"p\",{children:\"Non-executive board members are far more critical of CEO performance than chairpersons and senior management. What was the reason for this deviation? We decided to find out.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"In most companies, non-executive directors provide independent input on how the CEO is running the company. But their most important task is to hire the CEO. Once they’ve recruited someone, their job is to measure performance against strategy and objectives and speak up if the CEO falls short.\"}),/*#__PURE__*/e(\"p\",{children:\"While the other board members provide constructive, challenging input, the chairman has a much closer relationship with the CEO. His or her job is to be a sounding board to the CEO, a kind of mentor.. And the answer to why chairs are more forgiving lies in that connection.\"}),/*#__PURE__*/e(\"h3\",{children:\"Critical difference\"}),/*#__PURE__*/e(\"p\",{children:\"Non-executive directors typically see the CEO at a handful of regular board meetings over the year. But in my experience, a CEO and chairman speak regularly. Sometimes several times a week. This is a critical difference.\"}),/*#__PURE__*/e(\"p\",{children:\"That closeness forges a bond that strengthens the chairman’s understanding of the challenges a CEO faces. It’s human nature to be sympathetic to someone you know, even on a professional level. It’s not that the other board members are left out—it’s just that the chair understands the CEOs thinking better.\"}),/*#__PURE__*/e(\"p\",{children:\"This is why we see clear evidence in our evaluation data that non-executive directors are far more critical of the CEO than both the chairman and senior management. In our benchmark data, Chairmen score a whopping 96/100 in their answers to the statement “I trust the CEO’s judgement.” Non-executive directors chalk up a lukewarm 79/100 on the same metric.\"}),/*#__PURE__*/e(\"h3\",{children:\"Concept of trust\"}),/*#__PURE__*/e(\"p\",{children:\"There’s more: Our data tracks the scores assigned to various metrics to cast light on different aspects of the board work. Respondents also rate how important a particular issue is compared with others. The runner-up measured by how often it’s rated “important” by respondents in our evaluations is “I feel confident concerning the CEO’s execution capability.”\"}),/*#__PURE__*/e(\"p\",{children:\"This is a central concept of trust in a CEO’s abilities. Considering how critical this issue is and remembering that hiring and firing a CEO is one of the board’s key tasks, the benchmark score in our data of 84/100 shows there’s a lot of room for improvement.\"}),/*#__PURE__*/e(\"p\",{children:\"One thing is clear: the more often you track your board’s decision-making and performance with an effectiveness platform like BoardClic, the more transparency you achieve. A healthy multi-year evaluation regiment is the best way to sound corporate governance and ultimately better stakeholder value.\"}),/*#__PURE__*/e(\"p\",{children:\"Finally, I wanted to let you know it’s not a one-way street. Our experience and data show that CEOs are often as critical of the non-executive board members and their contribution to strategy as they are of him or her.\"})]});export const richText11=/*#__PURE__*/t(a.Fragment,{children:[/*#__PURE__*/e(\"p\",{children:\"This year has been productive for BoardClic; we have developed and released more than 100 updates. Here are the most exciting highlights:\\xa0Flexible survey rolesDifferent access levels to evaluation reportsProduct packages with various evaluation formats and level of report detailsBoardClic Meeting Express for collecting feedback after board meetingsComparing results over time for all evaluation typesFlexible tool for creating downloadable presentations and sharing evaluation resultsBranding reports and evaluations for partners and enterprise customersAll evaluations are available in Swedish nowNew user interface design tested and proved by our own boardConstant security and performance updates\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"p\",{children:\"UPDATES TO KEY PRODUCT FEATURES\"}),/*#__PURE__*/e(\"img\",{alt:\"\",className:\"framer-image\",height:\"640\",src:\"https://framerusercontent.com/images/jBLAk8KniNH0lFsNWnVPNKEvkc.png\",srcSet:\"https://framerusercontent.com/images/jBLAk8KniNH0lFsNWnVPNKEvkc.png?scale-down-to=512 512w,https://framerusercontent.com/images/jBLAk8KniNH0lFsNWnVPNKEvkc.png?scale-down-to=1024 1024w,https://framerusercontent.com/images/jBLAk8KniNH0lFsNWnVPNKEvkc.png 1920w\",style:{aspectRatio:\"1920 / 1280\"},width:\"960\"}),/*#__PURE__*/e(\"p\",{children:\"One of the key product features at BoardClic is the ability to customize your output. 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Here are some highlights:216 tasks closed205 bugs squashed1620 commits120 000 rows of code added141 version updatesThank you and stay tuned for more!\"})]});export const richText12=/*#__PURE__*/t(a.Fragment,{children:[/*#__PURE__*/e(\"p\",{children:\"However, it can be difficult for superiors, peers and subordinates to give honest feedback to their CEO. This is mainly due to the nature of the position. Naturally, the CEO is the decision maker when it comes to the continuous employment of the people he or she oversees. This creates a dynamic in which it might be costly for employees to criticise their leader – so why risk the consequences?\"}),/*#__PURE__*/e(\"p\",{children:\"Most often, the reason superiors (i.e. the board) struggle with giving feedback to their CEO is a lack of mutual understanding around non-financial KPIs. Sure, it’s clear that the chief is to deliver a certain return to shareholders, but the next level of detail is usually missing. Thus, it’s crucial that the board — whose primary responsibility is to provide oversight and assistance to the CEO — establishes a sustainable feedback system that aligns all parties of the operation.\"}),/*#__PURE__*/e(\"p\",{children:/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})}),/*#__PURE__*/e(\"h2\",{children:\"What is a CEO evaluation?\"}),/*#__PURE__*/e(\"p\",{children:\"A CEO evaluation is undoubtedly the best measure a board can take for following up on CEO performance. The process most often involves objective critique from board members and the chairman, as well as a subjective evaluation conducted by the CEO herself. When put together, and measured against the goals and expectations of the organisation as a whole, one paints a picture of the alignment between the two bodies as well as the level of output from the chief executive.\"}),/*#__PURE__*/e(\"p\",{children:\"An effective CEO evaluation will look at metrics regarding:\"}),/*#__PURE__*/e(\"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(\"em\",{children:\"Alignment of priorities & goals between the CEO and the board. \"}),\"For organisational success, the goals and objectives of the CEO must reflect those of the board. 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Structured objective feedback helps the CEO identify necessary changes and where focus may need redirecting, or simply to highlight personal success factors.\"]})})}),/*#__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(\"em\",{children:\"Operational impact. \"}),\"Influencing the company’s effectiveness in operational areas is a core responsibility of the CEO. Albeit being one of the more straightforward metrics to track, it’s one of the most fundamental and is directly tied to the CEO’s actions. How the chief progresses against set strategies mirrors his/her operational competency (given that communication around what the strategy incorporates is clear)\"]})}),/*#__PURE__*/e(\"li\",{\"data-preset-tag\":\"p\",style:{\"--framer-font-size\":\"16px\",\"--framer-line-height\":\"1.8em\"},children:/*#__PURE__*/t(\"p\",{children:[/*#__PURE__*/e(\"em\",{children:\"Leadership effectiveness. \"}),\"Responsibilities such as succession planning, meeting key customers and investors or developing long-term strategies — and the quality of those actions — all fall under leadership effectiveness. Building and leading a strong executive team also sets the bar for the CEO’s management capabilities.\"]})})]}),/*#__PURE__*/e(\"h2\",{children:\"What can you, as a board, expect to gain from a ceo evaluation?\"}),/*#__PURE__*/e(\"p\",{children:\"The insights produced by a CEO evaluation are beneficial to both the board and the CEO.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"Throughout the process, the person in question gains a stronger apprehension of the board’s agenda and goals. It also provides her with an opportunity to clarify personal expectations surrounding performance and to potentially receive positive feedback on accomplishments. A well-structured process will help the board and the CEO to engraft attention to the company’s direction by clarifying strategic objectives, which also serves as part of her ongoing leadership development.\"}),/*#__PURE__*/e(\"p\",{children:\"The board, on the other hand, opens the door for better and more transparent communication – both internally, and between themselves and the CEO. Unobscured communication equals alignment, which in turn acts as the basis for making collective, informed decisions. Whether it be aspects requiring change or to ascertain the progress of strategies, transparency is key.\"}),/*#__PURE__*/e(\"p\",{children:\"An evaluation also helps recalibrate the state of affairs when the board is recruiting a new CEO, or as part of onboarding a fresh appointee and making decisions regarding appropriate remuneration. How does his or her competencies line up with the rest of the board? What skills and type of experience are we missing in our top-team?\"}),/*#__PURE__*/e(\"h2\",{children:\"A heads up..\"}),/*#__PURE__*/t(\"p\",{children:[\"The CEO’s attitude toward the evaluation and reaction to its feedback sets the tone for how it’s perceived, and can be the difference between full engagement of participants and a so-called window dressing scenario. A process suddenly dropped in the chief executive’s lap can send mixed signals regarding the nature of the board-CEO relationship. Both parties need to make a dedicated investment to make sure that potential risks are minimised from the outset, therefore increasing the probability of establishing a \",/*#__PURE__*/e(o,{href:\"https://old-website.boardclic.com/blog/how-to-establish-a-sustainable-evaluation-process/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"sustainable and value creating evaluation process.\"})})]}),/*#__PURE__*/e(\"p\",{children:\"Before initiating said process, the board and its members need to be aligned around what is expected of the CEO. Without agreeing on expectations, how can she act accordingly? Don’t get me wrong, debating over the appropriateness of criteria for evaluating performance is encouraged – open communication and diversity in opinion creates friction that in turn produces informed decisions. But there must be a consensus regarding what dimensions of performance and objectives are examined before placing anyone under the looking glass.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"It’s also important for all members of the board to possess relevant information and documentation before voicing an opinion. Financial and key operational metrics are most often ripe for the taking, but insights regarding more non-quantitative aspects — such as leadership effectiveness — also have to be taken into account.\"}),/*#__PURE__*/t(\"p\",{children:[\"Thus, in order to absorb the evaluation’s full value, it is highly recommended to conduct a board evaluation prior to scrutinising your CEO. A prominent board evaluation will establish the foundation of alignment and transparency you need to assess the CEO according to the \",/*#__PURE__*/e(\"em\",{children:\"correct \"}),\"dimensions. Consequently, it will drastically minimise common pitfalls – something that could otherwise defeat the purpose of the entire process. A board evaluation can also serve as a cornerstone of the overall process you (should) have in place, where evaluations of the different top-tier facets in your organisation are conducted on a regular basis.\"]})]});export const richText13=/*#__PURE__*/t(a.Fragment,{children:[/*#__PURE__*/e(\"p\",{children:\"Endless hours of administrative work and thousands of dollars are being spent on a long, complex operation that could be so much more streamlined. With today’s technology, digitalising the board evaluation process is essential for sustainable development in your company.\"}),/*#__PURE__*/e(\"p\",{children:\"There are, of course, several other benefits of adopting a digital way of working.\"}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"h2\",{children:\"A lower cost, in both time and money\"}),/*#__PURE__*/e(\"p\",{children:\"This is the most obvious benefit of a digital board evaluation when compared to through a consultancy. I will disregard the final outcome of each process and instead focus on the very steps of the operation that leads up to delivery (in the form of a report/presentation).\"}),/*#__PURE__*/e(\"p\",{children:\"When it comes to costs, the digital option will always prevail over the consultative one. Naturally, digital solutions are subject to scalability and more competition – both of which decrease prices drastically.\"}),/*#__PURE__*/e(\"p\",{children:\"A consultancy will initiate an extensive, usually months-long evaluation that includes phone calls, meetings, interviews and presentations, and everything in between. A lot of the time spent is just coordinating schedules and meetings between everyone involved. And, seeing as time equals money, it ends up being rather expensive on that front.\"}),/*#__PURE__*/e(\"p\",{children:\"The nature of a digital process eliminates these redundant elements, giving you increased control over when and where you spend your time. A solution like this would require a one-off calibration effort to get up and running, but then allow you to simply log in and conduct your evaluation with two clicks of a button.\"}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"h2\",{children:\"A more vesatile way of working\"}),/*#__PURE__*/e(\"p\",{children:\"Digital technology has transformed the nature of work as we know it. Increased connectivity and a surplus of digital options result in many people now having far more opportunities for working together from separate locations. As working remotely becomes more and more common, we are proving that a large part of board work can be done hundreds –\\xa0 if not thousands – of miles away without difficulty.\"}),/*#__PURE__*/e(\"p\",{children:\"By removing the need for board members to be physically present to conduct an evaluation, we effectively enable countless of other flexible working practices. A board evaluation, for example, becomes less tedious when schedules and physical presence aren’t part of the picture.\"}),/*#__PURE__*/e(\"h2\",{children:\"Improved information storage, security and accessibility\"}),/*#__PURE__*/e(\"p\",{children:\"Modern technology allows us to store massive amounts of information and data in relatively small spaces such as smartphones. Today, we can gather pretty much every photo, song or document we possess on one single, handheld device. We can also use those devices to access and manage information that was previously limited to more powerful contraptions, such as computers.\"}),/*#__PURE__*/e(\"p\",{children:\"Cloud computing takes it one step further. Through it, we can store and access data from anywhere in the world – and with almost no restrictions in terms of storage capacity. The Cloud Service Provider (CSP) will most often also perform regular firewall checkups and intrusion identification in order to protect your data. Naturally, as board work revolves around incredibly sensitive information, it’s important to opt for a CSP that specialises in cybersecurity.\"}),/*#__PURE__*/e(\"p\",{children:\"Digitalising your board evaluation means improving these critical aspects of the entire process. You store all surveys, reports and other documentation in one secure location – reducing human error and the risk of hard-copy misplacement. Increased accessibility to these items amplifies engagement of participants and simplifies collaboration, as the task of evaluating becomes easier to deal with.\"}),/*#__PURE__*/e(\"p\",{children:\"\\xa0\"}),/*#__PURE__*/e(\"h2\",{children:\"Data equals accurate insights\"}),/*#__PURE__*/e(\"p\",{children:\"Consultancies offer evaluations comprised of thorough investigations into each and every board member, giving you a comprehensive overview of the dynamics in your board. However, what they cannot offer is incorporating data-driven facts into their calculations.\"}),/*#__PURE__*/e(\"p\",{children:\"Going digital enables us to track metrics and analyse data that the human brain simply cannot. It opens the door for opportunities to collect additional insights by e.g. being able to put results into context, identify trends and measure improvements over time – all of which make up for a more accurate and all-encompassing outcome. Data also provides benchmarks that can be used to add a qualitative perspective to your analysis.\"}),/*#__PURE__*/e(\"p\",{children:\"These benefits become even more clear when combined with consistency. Conducting data-driven board evaluations on a regular basis solidifies the insights you receive as trends and improvements become more accurate the more data they consider.\"})]});export const richText14=/*#__PURE__*/t(a.Fragment,{children:[/*#__PURE__*/e(\"h3\",{children:\"How do you, as chairman, confirm that you’re doing a good job?\"}),/*#__PURE__*/e(\"p\",{children:\"“Indeed, how do you confirm you’re doing a good job?\\xa0\"}),/*#__PURE__*/t(\"p\",{children:[\"The most efficient way is, of course, to ask for feedback. However, as a chairman, this can be a daunting task. It requires courage to want to gain an objective opinion on your performance. If you’re not brave enough to ask, you won’t receive it. Hence, I would say \",/*#__PURE__*/e(\"strong\",{children:\"asking \"}),\"is the first and most important step.\\xa0\"]}),/*#__PURE__*/e(\"p\",{children:\"The next step is establishing a sustainable and efficient process for collecting said feedback on a regular basis. Consistency is key for ensuring honesty and transparency in your process – which is something I highly recommend.”\"}),/*#__PURE__*/t(\"h3\",{children:[/*#__PURE__*/e(\"br\",{}),\"As a chairman of the board, is it difficult to receive honest feedback from board members, and why?\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]}),/*#__PURE__*/e(\"p\",{children:\"“A chairman would say no, because they don’t know if the feedback they receive is actually honest. Collecting feedback can be easy, but the hard part is knowing if it’s dependable.\"}),/*#__PURE__*/t(\"p\",{children:[\"The fact of the matter is that it’s quite complicated. Establishing a reliable feedback loop on this professional level can be somewhat of a challenge. Most board members have been appointed by yourself and, as the chairman, you continue to be the decision maker when it comes to their continuous employment. You decide their fate. This, in turn, makes it challenging for you to \",/*#__PURE__*/e(\"strong\",{children:\"get\"}),\" honest feedback because board members risk so much by \",/*#__PURE__*/e(\"strong\",{children:\"giving\"}),\" honest feedback. Putting your neck out in an environment such as this one is easier said than done.\"]}),/*#__PURE__*/e(\"p\",{children:\"I cannot stress the importance of creating enough trust and transparency in your board to avoid getting caught up in this downward spiral. If you truly trust each other, honest feedback will become the norm. And you need honesty to improve as a professional and as chairman. It’s difficult, but it’s crucial.”\"}),/*#__PURE__*/t(\"h3\",{children:[/*#__PURE__*/e(\"br\",{}),\"For chairmen, what are some of the biggest challenges in a situation where you’re being forced to apply remote work?\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]}),/*#__PURE__*/e(\"p\",{children:\"“The main setback for a chairman is the fact that you’re not used to remote leadership. In fact, for many, there isn’t even a strategy in place for how to adapt. The challenge here is establishing routines and processes that work for your particular board and your particular situation. This setback, in turn, breeds other hurdles that are worth mentioning:\"}),/*#__PURE__*/e(\"p\",{children:\"Firstly, because of the lack of face-to-face contact, getting a clear notion of how board members and other colleagues are coping in this new environment may be difficult. Yet, it’s never been more important to be aware of their well-being. Not being able to interact with your CEO (and vice versa) as you normally would can be especially stressful – for the both of you. And irrational decision making lures in situations where people face a high level of stress and pressure, that much has been proven.\"}),/*#__PURE__*/t(\"p\",{children:[\"Secondly, making sure that the quality of “regular” board work isn’t affected is important. The key to upholding the calibre of your work is understanding the lay of the land in your board \",/*#__PURE__*/e(\"strong\",{children:\"and\"}),\" company in this situation. Also, prioritising correctly on the board agenda is critical to ensure continuous value creation.”\"]}),/*#__PURE__*/t(\"h3\",{children:[\"What would you say are things chairmen spend their time on the most, that could’ve been allocated to more important matters?\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]}),/*#__PURE__*/e(\"p\",{children:\"“It’s a fact that if just one individual in the board is not well prepared, it’s not a good starting point for efficient board work. As chairman, spending your time on getting board members up to speed directly affects the efficiency of the board. It’s up to each and every director to be fully prepared in order for the board to perform as a whole.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"Another thing that can impact a chairman’s time is the material provided by the management team. If the material is not of high quality, the chairman needs to compensate. This can also severely slow down the board’s output.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"When the role of the board hasn’t been explained thoroughly enough to its members, you can expect a major loss of time. Not the general function of boards per se, but a specific board’s function in a specific organisation and in a specific situation. Everyone needs to be aware of the ambition, goals and motivation behind their board in order to move in the right direction.”\"}),/*#__PURE__*/t(\"h3\",{children:[/*#__PURE__*/e(\"br\",{}),\"What are the main pain points in a board that can be solved by digitalisation?\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]}),/*#__PURE__*/e(\"p\",{children:\"“The biggest pain point for a board in general is the scarcity of time, both for creating value and aligning around priorities on the board agenda. It’s a well-known global problem that boards struggle to make time for value creation as a result of non-alignment.\"}),/*#__PURE__*/e(\"p\",{children:\"Creating a process for continuous feedback falls under the same umbrella. Manually and irregularly collecting haphazard feedback is usually the consequence of lacking a sustainable option. For feedback to have any value to the receiver, you need to able to efficiently track their performance data over time. And to achieve that, you need consistency and a tool that can analyse that data with accuracy.\"}),/*#__PURE__*/e(\"p\",{children:\"These pain points can all be countered by forms of digitalisation. Analytics platforms provide critical insights regarding priorities and alignment. Board portals help you keep track of documentation and schedules. Feedback systems are usually data-driven and will help you create loops that, with minimal input, lay the groundwork for a sustainable process.\\xa0\"}),/*#__PURE__*/e(\"p\",{children:\"The benefits of using digital solutions stand even greater for boards located in countries that require annual state mandatory evaluations. Instead of bringing in external consultants and biased advisors you can conduct compliant evaluations with an all-digital tool – effectively reducing an unavoidable and yearly cost.”\"}),/*#__PURE__*/t(\"h3\",{children:[\"What would you say are things chairmen spend their time on the most, that could’ve been allocated to more important matters?\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(\"br\",{className:\"trailing-break\"})]}),/*#__PURE__*/e(\"p\",{children:\"“The biggest challenge right now lies in the fact that we’re in the middle of a completely unprecedented situation. Apart from the ongoing “regular” board work, chairmen now find themselves having to conduct crisis management as well. Maintaining the quality of normal board work whilst dealing with the crisis is definitely the biggest challenge as of now.\"}),/*#__PURE__*/e(\"p\",{children:\"In addition, not being able to meet your colleagues face-to-face makes the situation harder to handle. How are they? Are they well? How concerned, stressed and resilient are they ? The lack of firsthand knowledge exacerbates the difficulty of understanding how their individual situations affect the collective board work.\"}),/*#__PURE__*/t(\"p\",{children:[\"Prioritising the board agenda is another challenge that chairmen are facing. With new fires needing to be put out everyday – how indeed do you optimise the time? The answer is \",/*#__PURE__*/e(\"strong\",{children:\"preparedness\"}),\". The crisis has made time even more scarce than it was before, which in turn makes gearing up for meetings crucial for any form of efficient output. Simply put, every member of the board needs to dedicate more time before meetings to make more time during meetings.\"]}),/*#__PURE__*/e(\"p\",{children:\"The challenge here is; how do you, as chairman, ensure that your board members come prepared? How do you lead when you’re miles away?\"}),/*#__PURE__*/e(\"p\",{children:\"To simplify crisis management for chairmen, I’d suggest trying to stay focused on the big picture. Dwelling on too many details will make you lose sight of how to contain and manage the situation as a whole. Understanding how to best work with a broad perspective can be the difference between crisis management and crisis misconduct.”\"})]});export const richText15=/*#__PURE__*/t(a.Fragment,{children:[/*#__PURE__*/e(\"p\",{children:\"As we find ourselves in a situation that is so unique and hard to grasp, my only way of coping is to focus on how I can contribute here and now. My intention was to continue writing an article I outlined about a month ago. I wanted to write something clever about cognitive bias (such as overconfidence in executive decision-making), but it just doesn’t feel right at the moment. I instead turn to speak around today’s unparalleled stress and how it affects us and, most notably, our leaders.\"}),/*#__PURE__*/e(\"h3\",{children:\"Short and long-term stress\"}),/*#__PURE__*/e(\"p\",{children:\"When facing a threat, the human body reacts. Whether the threat is real or not, the perception of the threat is very real. Regardless of whether the threat is physical, medical or existential – the body reacts.\"}),/*#__PURE__*/e(\"p\",{children:\"For most of us in the Western part of the world these kinds of threats are typically brief. For instance; we’re suddenly face-to-face with an angrily barking dog in the woods. Our blood pressure rises quickly and we’re in fight-or-flight mode within seconds. But then we see the owner approaching, and she ties the dog to its leash. The stress-built reaction has been instant and strong, mobilising your body to defend itself. Yet, once the dog-threat is neutralised, you resume business and the stress subsides.\"}),/*#__PURE__*/t(\"p\",{children:[\"COVID-19, however, is a different kind of threat. With no end in sight, it’s causing us prolonged and constant stress. It’s unforeseen, it’s everywhere and it’s chaotic. Since the threat is long-lived, we can expect the stress-based reactions in people to be long-lived as well. Research has proven that our mental well-being is heavily affected when enduring long-term stress – exponentially increasing the risk of irrational behaviour and mental illness. \",/*#__PURE__*/e(o,{href:\"https://old-website.boardclic.com/2020/03/remote-governance-a-crisis-response/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Applying remote work\"})}),\" also means not being able to closely follow the health of peers and employees, which adds to the issue.\"]}),/*#__PURE__*/e(\"h3\",{children:\"CEOs are under enormous preassure\"}),/*#__PURE__*/e(\"p\",{children:\"People at the top of their careers are perceived as rational, and are often used to high levels of stress in their everyday lives. Starting or running a company can be a stressful operation, but also results in experience that helps develop relevant coping strategies.\"}),/*#__PURE__*/e(\"p\",{children:\"However, CEOs all over the world are now struggling to meet the pressure from their executive teams, employees and boards of directors – coping strategies or not. Although most CEOs can handle a high amount of stress, the fact that there is no time to recover will undoubtedly deteriorate their performance and mental health. Not because they are weak, but because they are human.\"}),/*#__PURE__*/e(\"h3\",{children:\"How can we help our CEOs?\"}),/*#__PURE__*/t(\"p\",{children:[\"This is certainly not the time for increased control or criticism. This is the time for close communication regarding what a particular CEO perceive as the right type of support. If your board hasn’t prioritised close collaboration and succession planning before, we encourage you to do so.\",/*#__PURE__*/e(\"br\",{}),/*#__PURE__*/e(o,{href:\"https://old-website.boardclic.com/2020/04/how-to-establish-a-sustainable-evaluation-process/\",motionChild:!0,nodeId:\"LirKPvwBI\",openInNewTab:!1,relValues:[],scopeId:\"contentManagement\",smoothScroll:!1,children:/*#__PURE__*/e(n.a,{children:\"Adopting digital solutions\"})}),\" and tools can greatly simplify the lives of CEOs. For example, there are ones that offer a structured, experienced approach to helping leaders create feedback loops and crisis management systems. Supporting remote leadership through this kind of technology can be the difference between panic and order in your organisation.\"]})]});\nexport const __FramerMetadata__ = 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