The perfect combination of insight to the Board and meaningful feedback to the CEO.
All too often, the annual CEO evaluation process is designed simply to generate a bonus payout. Done well, it can provide so much more. WATSON brings rigor and independence so a balanced and insightful picture emerges.
A WATSON CEO evaluation process serves many purposes:
- Get aligned on the most important priorities for the coming year
- Reach board consensus on how well the CEO is performing
- Clearly articulate and understand the CEO’s strengths and weaknesses
- Provide the CEO rich feedback to celebrate things being done well and pinpoint areas for improvement
- Integrate appropriately with the executive compensation program
- Dovetail with the longer term succession planning conversation
A WATSON CEO evaluation takes a nuanced approach depending on your CEO’s tenure. We believe that input from multiple stakeholders contributes to a more fulsome evaluation, whether it be the more formal annual evaluation or a check-in after the first 12 months of a new CEO’s tenure.
WATSON crafts a process that fits your unique situation. We work with the CEO, the Board Chair, and the Chair of the Human Resources and Compensation Committee to get it right.
Collecting input from multiple parties can result in information overload that isn’t helpful to the Board, nor the CEO. WATSON carefully synthesizes all the input and provides a clear, insightful portrait of your CEO at this moment in time. Our report gets straight to the point.
Who provides input on the CEO’s performance and how that input is gathered can change from year to year. It may include the CEO, all directors, each executive reporting to the CEO, and outside stakeholders. Survey or interview. We help you figure out the best combination for your situation.
Well-rounded performance criteria
We work with the board to define what good looks like for this CEO role at this point in time. We include a blend of different kinds of performance criteria. Some are hard cold result metrics about the company’s performance. Some are strategic initiatives the CEO is striving to deliver. Some are the core leadership responsibilities of the CEO’s role.
Before, during, and after the evaluation process we dialogue with the Chair and the CEO to understand the unique dynamics of the situation. We have honed our interviewing skills from years of conducting CEO, director and board evaluations.
We are adept at drawing out people’s views and helping them crystallize their thinking.
Bottom line: Your CEO deserves the best.