Every organization has a governance structure, whether implied or explicit, based on the natural formation of the organization. Leaders who are intentional and understand how to assess and improve their governance have the keys to manage overall organizational performance.
Weaver has developed a method for measuring the stage of maturity for each of six specific, generally accepted attributes of organizational governance. The stages of maturity range from informal and undefined to predictable, monitored and measured to sufficiently established so that the organization can focus on continual improvement. Every organization will be at different points in the maturity scale for each of these six attributes:
- Board roles and oversight
- Strategies, policies and procedures
- Structure and accountability
- Communication and reporting
- Assessment and risk management:
- Ethical values
As a leader, you can use the maturity model to benchmark your organization’s governance procedures against developed and proven criteria. Benchmarking allows you to strategically determine your current level of maturity (current state), where you want to be (goal state) and what you need to do to get there. With that information in hand, you can then begin building the structure you need to mature your organization.
Why it Matters
When a governance framework is in place, organizations are positioned to:
- Strengthen transparency and accountability to the benefit of stakeholders
- Empower employees by providing a level of influence associated with their position and clarity of authority and process
- Codify “institutional knowledge” and best practices into documented and repeatable processes and support structures
- Steer decision-making and manage risk during times of change, uncertainty and disruption
- Signal to investors and other sources of capital that guardrails are in place to protect their investments
- Create boundaries between the board and executive leadership and define roles and responsibilities across positions and functions
*Click to enlarge the image below.
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