Becoming a high performance board requires deliberate intent – a case study

Vision Super’s Story

Vision Super engaged Insync, in association with Board Benchmarking, to conduct reviews of the performance and effectiveness of its board and its individual directors in 2018 and 2020. Vision Super completed Board Benchmarking’s new Board Effectiveness Survey in 2020 which showed it had markedly improved from being benchmarked just above the average of peer financial services boards to become one of the most effective in Board Benchmarking’s extensive database as shown below.

 

Vision Super Board Effectiveness Survey Benchmark

 

Vision Super Benchmark

 

I thought we were quite a good board in 2018 and we have made very deliberate efforts to improve over the last two years. We have achieved some targeted improvements over the last two years and I now say we are a good board. Whether we are a great board is for others to judge.

Geoff Lake, Chair, Vision Super

 

The six steps to becoming a high performance board

There are six steps that Vision Super’s board took to help them move the dial from being benchmarked as average to high performing. Board Benchmarking recommends that all boards take these same steps to help them improve the performance and effectiveness of their board and of their individual directors.

  1. Get a good measure and a deep understanding of your current performance and effectiveness and the main areas for improvement
  2. Board unity and sustained commitment to the agreed action plan
  3. Chair to demonstrate leadership and vulnerability during the change process
  4. Focus on individual director improvement as well as board improvement
  5. Regular check-ins to measure the impact of the agreed actions and adapt accordingly
  6. Never cease the journey of improvement – it’s a journey, not a destination

To learn more, download the full case study below.

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