Peak Bodies

Building Trust, Strengthening Influence.

For peak bodies constituted to support and encourage industry standards, the ability to measure and benchmark governance standards among participants is essential for fostering transparency, accountability, and excellence. This oversight allows organisations to adhere to (or strive towards) best practices that enhance trust and credibility in the industry.

The measurement of governance standards allows peak bodies to identify areas where member organisations can enhance their practices. Strong governance correlates with improved corporate performance, effective risk management, and increased stakeholder confidence. By benchmarking these standards, peak bodies provide a comparative analysis that motivates member organisations to elevate their governance frameworks to match or surpass industry benchmarks.

Benchmarking also serves as an instrument for maintaining industry integrity, thereby protecting all industry participants. It helps ensure that all organisations within the industry meet established standards of conduct and operation, safeguarding the industry’s reputation and encouraging a uniform level of quality and accountability. This is particularly significant in sectors where poor governance can lead to substantial financial, environmental, or social repercussions.

The capacity to measure and benchmark governance practices encourages a culture of continual enhancement among member organisations. Awareness that their governance processes are evaluated against an industry standard motivates members to strive for higher standards to maintain their competitive edge and reputations.

The benchmarking process can also be used to highlight leaders in governance excellence, setting a standard for others in the sector. These exemplars can serve as role models for other organisations, fostering industry-wide improvements and raising the benchmark for good governance. This can lead to positive changes across the sector, enhancing the overall standard and effectiveness of governance throughout the industry.

Governance Manager can play a role in supporting peak bodies to gather key member intelligence and distilling this into actionable insights that add member value from the peak body and support member development.

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