The new upgraded Director Capability Development software inside GovernWith Plus (formerly Governance Evaluator) was softly launched in July 2022. The new version of the platform has significantly improved development capabilities for Directors. As a reminder of what they are and been added to the New Portal:
- The Director Capability questions have been fully rewritten.
- The question structures have been ‘triangulated’ for better, less subjective results and data insights on Director Skills and Capabilities.
- New and emerging categories of governance
- Data filtering capabilities provide fast access to insights that are far more meaningful and actionable.
- New tools to implement and initiate Director Development action plans
GovernWith Plus: The First Three Months Data
Over the last three months, the team have noticed some initial data trends, patterns and have unpacked what they mean. The initial data reveals multiple Director capability gaps at Australian Board level. This new data shines a deeper, more meaningful, and actionable light on the current capability gaps of Australian Directors sitting on Boards.
Upgraded Platform: Less Subjective Data, Deeper Insights
With the introduction of our newly rewritten Director Development and Skills Matrix questionnaire, featuring both rewritten content and brand-new areas of Board Capability exploration, we have opened the doors to new areas of discovery, insight and now Actions.
In rewriting the questionnaire, GovernWith Plus ensures we exceed the high governance standards, sector relevant skills and experience that we are so well known for.
Additionally, times have changed since the last time our questionnaire was written. New topics include focus on areas such as environmental and social governance (ESG), behavioural styles, innovation and transformation, and diversity, equity and inclusion skills to name a few.
Data Insights: Arising Areas of Concern
Having all these new data points has highlighted and raised areas of concern. Our newest module, Contemporary Professional Skills, has some of the lowest scores outside of the Sector Specific skills.
Below Effective Practice standards.
All the sub-modules in this module currently have scores below 50%. Some modules are as low as 27%. This highlights areas of real concern for ambitious Boards who are striving for:
- continuous improvement,
- remaining current and
- diversifying their skills
… beyond the expected lawyer, accountant, CEO and community member Board composition.
The Impact of Insighs
These areas of concern regarding Director Capability can flow into the organisations they govern. The lower scoring submodules after three months are Data Analysis, Quality Management, Safety, and culture.
Whilst low scores in certain areas of Director Capability are inevitable, there are core Skills and Capabilities that disproportionately negatively impact an organisation. Skills such as ESG, ICT, Quality & Safety to name a few.
What Does It Mean
Being blissfully ignorant, oblivious or blind to serious capability gaps can have a devastating impact on an organisations:
- Reputation (especially when played out in the mainstream media)
- Workforce (Ability to attract and retain workforce participants)
- Quality & Safety
Unfortunately, we’ve seen and are currently seeing the repercussions played out in the public arena.
Where to Start?
If the Board is unable to obtain quality insights into their own Board of Directors individual capabilities (and many Directors ‘Don’t Know What They Don’t Know’), how can Boards function at a low level, let alone a high level?
The implications for the executive teams and the wider organisation include:
- Quality and service
- Safe working environment
These issues become more apparent over time as this lack of Board Awareness compounds. Boards need to know where they sit with regards to Director Capabilities.
Without this knowledge, Director Capability Development actions plans cannot be tailored to improve the skills and capability mix across the board, and address areas of fundamental weakness.
If you want to know more, join us on a Deep Dive into Director Capability Gaps we’ve discovered with a Data Deep Dive webinar on Tuesday 15th November – Register Here