A scheme aimed at offering professionals in Guernsey looking to take on non-executive director roles the chance to sit on a board has been renamed to more accurately reflect its purpose. Previously known as the NED Apprenticeship Programme, the scheme is now called the NED Development Programme. It is run by the GTA University Centre and aims to develop and diversify the local NED pool by offering aspiring NEDs the opportunity to gain practical experience sitting on a partner board. Since launching in 2015, 11 people have completed placements with three going on to be appointed full-time to a board. There are 22 aspiring NEDs signed up to the scheme waiting for placements with a further eight currently sitting on host boards. Two other boards are going through the placement process.
‘The scheme has been incredibly successful and to have participants already sitting on boards is testament to the value of this approach. Becoming a NED requires ongoing development including training and real-life experience,’ said GTA University Centre programmes manager Michelle Morley. ‘Despite the success, we continually review the programme and there was some question over the use of the word apprentice which doesn’t reflect the seniority, expertise and business acumen that those joining the scheme have. We feel the time is right to rename it to the NED Development Programme.’
The unique programme involves training, including accounting and corporate governance sessions with Deloitte and legal and corporate governance sessions with Appleby, and a 12-month placement on a partner board, where participants are mentored by an experienced board member who will provide guidance and support and share their knowledge and expertise. The scheme also offers participants free membership to the NED Forum, enabling them to attend NED Forum training sessions and networking events.
‘NEDs fulfil a valuable role to boards, companies and the wider economy. We are aware that there is a dwindling pool with a huge amount of experience and knowledge. The value of the next generation of NEDs having the ability to learn from their peers should not be underestimated,’ said Mrs Morley. ‘Developing NEDs have different skillsets and approach to life and business which isn’t often found on long-established boards. Younger NEDs can be a breath of fresh air but they need to be given the chance to gain experience which is why this programme is so important to the future success of local businesses and to the economy.’
Mrs Morley said the renaming of the scheme will coincide with a raising of the scheme’s profile to encourage more partner boards and participants to join the programme.
‘Participants need to have experience at executive management level and having already served or reported to a board, now be looking into moving into a NED role. A selection committee reviews all applications to ensure that the person has the suitable skills and experience and then matches them to the partner board which they believe will be most appropriate and an interview is undertaken before an offer will be made,’ she said. ‘It is a very considered process because we want to ensure both the partner board and the participant gain as much as possible.’
Contact: Tina Torode, NED Development Programme Co-ordinator [email protected] or call 01481 224570.