Why non-executive director training is key to remain impactful, relevant and sought after as an experienced and portfolio NED
Why continuous learning is crucial to non-executive directors
As a seasoned non-executive director, you will likely have served on multiple boards, across a few industries, and accumulated a wealth of experience. However, being an experienced NED does not mean the journey of professional growth is complete.
In fact, the dynamic and evolving nature of the business environment means that continuous development remains important, even for experienced NEDs. By embracing ongoing professional development and staying on top of emerging and/or leading practice, you ensure that the boards you serve benefit from your up-to-date insights.
➡️ Are you developing professionally as a NED?
Advanced non-executive director training: Upskilling in specific areas of the board agenda
As experienced NEDs, admitting when there is an area in which we need to be stronger, and upskilling demonstrates integrity and a commitment to self-improvement. Boards need directors who are proactive in addressing potential gaps in their knowledge to maximise their impact in the boardroom.
One of the most effective ways to identify these gaps is through board evaluations and appraisals. These evaluations provide valuable feedback, highlighting areas where individual directors or the board as a whole may need further development.
➡️ Have you identified areas of upskilling?
Leveraging board evaluation for professional development
A well-conducted board evaluation can be a powerful tool to advocate for your own professional development. As part of this process, you can raise your desire to pursue targeted non-executive director training. Many boards are more than willing to fund development opportunities for their NEDs, recognising that the continued growth of directors directly impacts the strength of the board itself.
Board evaluations are an opportunity to align your growth with the needs of the organisation. Whether it is refining your understanding of complex governance issues, enhancing skills in risk management, or staying informed about cybersecurity, data management or artificial intelligence, the knowledge gained will make you an even more valuable asset in the boardroom.
➡️ Is a board evaluation or self-assessment on the board agenda in the coming 6 months?
Continuous learning for board members: Ensuring organisations invest in non-executive director training
It is not enough for NEDs to seek personal development—organisations must also invest in their directors. Every organisation should have a budget allocated for NED training, ensuring directors have access to the latest insights and tools.
Companies should demonstrate a commitment to the ongoing professional development of their board, and directors should embrace such opportunities and ensure that they have sufficient time to discharge their duties.
– Wates Corporate Governance Principles for Large Private Companies 2018
Encouraging the board to formalise this process fosters a culture of continuous learning. Strong boards are comprised of directors who are constantly evolving, and an investment in NED training is an investment in the organisation’s success.
➡️ Has your board set aside a budget for non-executive director training?
The continuous learning mindset for experienced NEDs
Even with extensive experience, the most effective NEDs are those who adopt a mindset of lifelong learning. Industries change, regulatory frameworks evolve, and the challenges faced by boards grow more complex. Staying ahead of these developments requires a commitment to continuous improvement.
NED training courses can help experienced directors deepen their expertise in areas such as sustainability, cybersecurity, and digital transformation, all of which are becoming increasingly critical topics in board discussions. These programs ensure you remain relevant and impactful in your role as a non-executive director.
➡️ When was the last NED training course you attended?
As an experienced non-executive director, you have already proven your capability in the boardroom. However, the best directors are those who understand that learning never truly stops. By embracing board training and identifying areas of upskilling, you will enhance your abilities, contribute to a more effective and forward-thinking board and attract jobs opportunities. Deliver the best version of yourself in every boardroom you enter!
To find out about NED training courses offered by NEDonBoard, Institute of Board Members, click on the link below:
For in-house board training, please visit our dedicated page and schedule a call with our team to discuss your specific needs and requirements. We offer onsite and online training for boards and senior leadership teams.
