The Board Research & Advisory (BR&A) Department at IOD has been established with the view to move the needle in board effectiveness. We assist in development of the board, as well as that of the directors and boardroom community, by addressing complex boardroom issues.
We engage in knowledge and resource development through research papers and surveys; board & directors’ performance evaluation to track and augment board effectiveness to achieve the vision of the organisation; develop strategic foresight capabilities for boards; contribute in catalyzing the board’s climate governance initiative and commitment; extend arbitration, mediation and conciliation support.
Our engagement with boards at various levels over the last three decades lends us the sensitivity of understanding various board matters and its burning & upcoming issues.
We aim to enable best practices by way of research collaboration, benchmarking, framework development, evaluation etc., and keeping with IOD’s mission of “Building Tomorrow’s Boards”.
The BR&A department provides the following services:
Board Advisory - Governance Review, Board Evaluation, Board Skills Analysis, KMP Evaluation
Board Research - Framework Building, Quantitative Surveys, Qualitative Interactive Sessions
ESG Advisory - ESG Strategy Development, ESG Reporting & Disclosure, Sustainability Assessments and developing framework for ESG Committees
Strategic Foresights - Sensitising Boardroom community on Strategic Foresight for Boards, Training Boardroom leaders to develop foresight capabilities and Developing a framework for the ‘Board’s Strategic Foresight
Arbitration Services - Arbitration, Mediation & Conciliation support
The Institute of Directors (IOD) India offers a range of services in relation to Board Advisory.
Some of the services provided by IOD in this area include:
1. Governance review
2. Board Evaluation
3. Board Skills Analysis
4. KMP Evaluation
A governance review plays a vital role in strengthening organisational performance, risk management, decision-making, and stakeholder confidence, ultimately contributing to the long-term success and sustainability of the organization.
IOD has a comprehensive approach towards governance reviews wherein the board is analysed on a number of key areas based on 10 key pillars established by IOD which include Company's Purpose & Vision, Strategy, Board Effectiveness, Board's Role & Responsibilities, Board Skills, Diversity & Culture, Board's Risk Oversight, Digital Transformation, Board's oversight, Corporate Social Responsibility and Strategic Foresight of the Board.
Our customized assessment involves a multi-pronged approach, combining:
• Quantitative questionnaires
• Qualitative questionnaire
• One-on-one interactions of select Board members (at the discretion of the Board Expert and Team)Please note: The entire evaluation process is kept strictly confidential, as per NDA (Non-Disclosure Agreement)
IOD employs a comprehensive and meticulous process for the development of the board skills matrix and the assessment of individual skills of each board member. Subsequently, a board expert thoroughly analyses the findings, conducts a gap analysis, and provides detailed recommendations and suggestions in the form of a comprehensive report. This report includes actionable plans for the implementation of the recommended measures.
In accordance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the corporate governance report mandates the inclusion of a matrix outlining the skills, expertise, and competence of the board of directors in the organization's Annual Report. Therefore, to ensure a comprehensive and effective analysis and reporting of the board's skills, it becomes imperative for the organization to conduct a skill analysis.
IOD offers a comprehensive 360-degree feedback process for Key Management Personnel (KMPs) to facilitate their professional development and enhance their performance. Through this feedback mechanism, we assist organizations in strengthening the capabilities of their KMPs, thereby contributing to overall organizational growth and facilitating effective succession planning.
The timeline may vary depending on the scale and scope of the work. Generally the tentative timelines are as follows:
• Governance review: 2-3 Months
• Board Evaluation: 3-4 Weeks
• Skills Analysis: 2-3 weeks
• KMP evaluation: 2-3 weeks
The BR&A department of IOD is equipped with a team of professionals to facilitate the process of services and an expert panel comprising of industry leaders from various industries having more than decades of experience in Corporate leadership and advisory.
click here to learn more about our expert panel.
To conduct and facilitate the whole process, we have a panel comprising of experts from top Corporations and Trusts, including TATA Steel, L&T Mutual Fund Trustee, GHCL, Tata Sponge Iron Limited, Blackstone Embassy REIT, JSW Steel, Blue Star Limited, and many others in various industries, supported by an internal team of professionals at IOD comprising of professionals.
click here to see the profiles of the panel of experts associated with IOD.
IOD provides the following services in relation to Board Research:
• Framework Building
• Quantitative Surveys
• Qualitative Interactive Sessions
Our team of experienced researchers work closely with your board to identify the specific questions or issues that need to be addressed, and develop a comprehensive research plan to gather necessary information. Further, we design surveys that are tailored to your organisation's specific needs, ensuring that you get the information you need to make informed decisions.
These research projects often take 6-8 weeks depending on the nature and scale of the survey. Our team has experienced professionals who enable the process in an effective and efficient manner.
IOD has a network of 30,000 Senior executives, representing prominent organisations from both the private & public sectors and Govt. of India, from India & abroad. Apart from this, we promote these surveys on various social media platforms which have a huge reach among the industry leaders.
IOD has collaborated with the following organisations in the past:
1. Deloitte: Research for an in-depth insight into the awareness in the Independent Directors’ (IDs) community on fraud, misconduct, and non-compliance, and their fiduciary responsibilities related to these. Detailed Report available at: Survey Report - Corporate fraud & Misconduct - Role of Independent Directors - 2022 (iodglobal.com)
2. ACCA: This research focuses on professionals’ crucial role in helping boards understand and navigate these inter connected and emerging risks in today’s more complex and uncertain world. Detailed report available at: IOD & ACCA_Rethinking Risk for the Future - An India Perspective (iodglobal.com)
3. NASDAQ: This research explores the history and effectiveness of corporate governance measures, emerging trends and ESG considerations that will help the nation rise economically, socially, and politically. Detailed report available at: Corporate Governance in India: Regulatory Push for Economic Growth - EquitiesFirst
IOD provides the following services in ESG advisory:
1. ESG Strategy Development
2. Framework for ESG Committees
3. ESG Reporting & Disclosure
4. Sustainability Assessments
In order to address the uncertainty that exists in boardrooms over how ESG might add value to their organisational strategy, IOD offers assistance with regard to the ESG Committee's role, functions, responsibilities, and key terms of reference, for smooth ESG Integration. IOD has curated a panel of board leaders who are experts in ESG and sustainability. We examine your working style and assist you in gaining clarity regarding the formation of your own ESG Committee and its duties.
We also connect you to Independent Directors and ESG Experts, should you need to induct a new member in your ESG Committee. To know more about this, click here.
We at IOD follow a step by step approach for developing a suitable and customised ESG strategy for our clients. This includes:
• Identification of ESG KPIs and Material ESG Issues
• Assessment of ESG material issues, opportunities and risks
• Strategy Foresight
We offer consultations on ESG Reporting and Disclosures, as identified in various reporting frameworks like the Global Reporting Initiative (GRI) Standards, Business Responsibility and Sustainability Reporting (BRSR - Core), Sustainability Accounting Standards Board (SASB), and Task Force on Climate-related Financial Disclosures (TCFD) and Integrated Reporting (IR) Framework.
We understand, deep-delve, and assess your current ESG Strategy and ESG Oversight mechanism, using unique tools and techniques including conducting International Benchmarking Studies. We deliver insights to help you understand and realize the full potential of your Sustainability Policy. We have our ESG Expert Panel to guide you with this.
Strategic foresight is basically an exploration and analysis of future developments and trends which can help an organisation to anticipate the opportunities, risks and challenges of future. Strategic foresight goes beyond the traditional forecasting approach and helps organisations to develop plans and strategies considering multiple future outcomes.
It can help your organisation by creating a proactive mindset and a deeper understanding of what future beholds for the organisation which enables informed decision making and ensuring long term success. Thus, IOD recognises, the only tool that will enable the development and sustenance of future-proof organisations and future-ready boards today is the tool - ‘Strategic Foresight’.
IOD was established in India in the year 1990 and since then it has been working on bringing a silent revolution through the boardrooms. Our vision is and has always been to develop future ready boards and to achieve that, IOD has developed a panel of experts who work along with the team of professionals at Board Research & Advisory wing of IOD to enable organisations to do strategic foresight in an effective and efficient manner.
IOD can help organisations to develop strategic foresight in the following ways:
• Sensitising the boardrooms community on strategic foresight for boards.
• Training boardroom leaders to develop strategic foresight skills.
• Developing a customised framework for strategic foresight in the organisation.