A new governance self-assessment tool has been launched that will measure and evaluate human performance to improve business and help firms contribute to a better society.
GOVindicia™ has been launched by Perrin Carey Limited, a governance specialist firm founded by Perrin, who has 20 years’ experience in the field.
It is based on scientific methodology that charts 27 indices of governance, from operational factors through to company culture. Perrin Carey Limited is a purpose before profit organisation, and its purpose is ‘To improve society by furthering the understanding and practice of governance around the world.’
The online tool has humans at the heart of its design and has been built on the premise that businesses are fundamentally comprised of people; and if those people are high performing and happy then that makes for a better organisation and society.
Data is sourced anonymously from company employees, who are asked to fill out an online survey. The responses are fed into the model which then provides management with an extensive data set to support strategic decision making. The three principal elements of the model are culture, decision making and decision implementation.
Perrin explains that the objective is to provide firms with the human view from inside their organisations: “Businesses need to be adaptable and agile, especially in the current environment, and they need to bring their people along with them. GOVindicia gives leaders the views of their people in measurable form – something that has always been a challenge – and allows them to respond to those metrics and make organisational changes.
“I’ve always been taken by the way a murmuration of starlings forms organically in the sky; the birds move cohesively and in unison for the benefit of the collective – and businesses need to do the same thing to adapt to their environment and prosper”.
As well as measuring human governance, GOVindicia allows businesses to align their outcomes against a backdrop of increased legislative compliance with international corporate governance codes. The tool has been developed with advisory input from Dr Leslie Spiers, Professor Alan McKane and Jim Nicholls.
“We want to begin our societal purpose before we even make any money so in our current phase of beta testing we need local firms to help test GOVindicia for free,” said Perrin. “All we ask is that they make a charitable donation to our Foundation, which supports Help a Guernsey Child and Bright Beginnings Children’s Centre.
“Businesses will benefit from using GOVindicia because performance and compliance agendas are so closely linked. Performance is affected by ethical decision making and long-term sustainability and our tool can help measure those factors and more”.