Snowdon Beinn Ltd. and Organizational Maturity Services LLP (OMS) join forces to bolster corporate board effectiveness
LONDON, 1 March 2021 – Snowdon Beinn Ltd., a leader in corporate board recruitment and effectiveness, today announced an exciting new partnership with Organizational Maturity Services LLP (“OMS”) to offer state-of-the-art board evaluations.
Corporate board effectiveness is crucial to providing direction for a company’s management and culture, as well as creating the right framework for helping individual directors meet their statutory duties. Recognising this importance, the UK Department of Business, Energy and Industrial Strategy commissioned ICSA, The Chartered Governance Institute, to assess the quality of independent board evaluations in the UK listed sector and to identify ways they might be improved. The resulting report, released in January, concluded that better practices need to be developed and implemented to support external board reviews. The partnership between Snowdon Beinn and OMS is in direct response to this recommendation. Together, the two companies provide a unique offering to clients looking to strengthen their board evaluation process – and ultimately, their overall corporate governance.
Snowdon Beinn already provides robust independent evaluations in order to identify problem areas in board processes and makeup – with the ultimate goal of adding new and diverse thinking in the recruitment process. Through this new partnership, OMS’ OMINDEX® (Organisational Maturity Index) will, for the first time, be applied to the board evaluation process – creating a unique offering in the field.
OMINDEX® is a comparative company diagnostic and performance rating system, approved by the Maturity Institute (“MI”), which successfully combines conventional measures of financial valuation with measures of environmental, social and governance (“ESG”) capability and performance. The methodology that produces these ratings assesses how companies create value relative to their effective capacity. The two unique ingredients in this measurement system are: (i) a clinical focus on the returns achievable, and achieved, from human capital, leadership practice and management systems and (ii) an ability to measure the delivery of value to all stakeholders, or Total Stakeholder Value (“TSV”).
ESG has become a global imperative — to boards, the companies they oversee, their shareholders, and other stakeholders, including the environments and communities in which companies operate. In the United Kingdom, the UK Corporate Governance Code sets the expectation that all Code companies will consider regular externally facilitated board reviews, with FTSE 350 companies undertaking such a review at least once every three years. Entities such as UK building societies should also have regard to the Code, including external reviews, as guided by their regulator, the Prudential Regulation Authority. In many other parts of Europe and North America, these external board reviews are similarly expected, or mandated. Together, Snowdon Beinn and OMS are changing the way these board evaluations are conducted – building a more robust process, and with that, companies that are stronger, smarter, and in step with the world around them.
For additional information, please contact:
Snowdon Beinn:
Email: contact@snowdonbeinn.com
Telephone : +44 (0) 20 3925 0304
Organizational Maturity Services LLP
Email : stuart.woollard@omservices.org
Telephone: +44 7940585661
About Snowdon Beinn | www.snowdonbeinn.com
Snowdon Beinn Ltd. was founded by legal and corporate governance experts. Through its externally facilitated board evaluations, it helps boards in their quest for continuous improvement. And through its non-executive director search service, it assists in maximising the collective intelligence of boards by bringing increased diversity of thought to the boardroom. Snowdon Beinn is headquartered in London, England and supports boards globally.
About Organizational Maturity Services LLP | www.omservices.org
OMS LLP researches, rates and advises on effective organizational maturity and human governance— a brand new discipline that finally makes whole the way we examine, value and engage with companies to generate true, lasting value for all stakeholders. OMS LLP developed and owns the OMINDEX® rating system approved by the Maturity Institute.
About The Maturity Institute | www.hrmaturity.org
The Maturity Institute (“MI”) comprises a global network of professionally accredited leaders, practitioners and academics creating value for all stakeholders through organizational maturity that realises the full value of human potential for the benefit of society. The MI provides a unique, evidence-based approach to organizational health and the creation TSV. The MI has created a new, revolutionary approach to organizational health by raising global standards of professionalism in organizational leadership and management practice. Its OM30 diagnostic instrument enables measurement and improvement of TSV created by organizations and provides ratings on OMINDEX®: a comparative scale from D to AAA.
The MI is operated by HR Maturity Ltd., a company limited by guarantee and registered in England and Wales. The MI is advised by a council of six, including leading academics, and the HR Maturity Ltd. board consists of four members of the MI council.