The Broad Impact of Board Member Training

Corporate governance training for board members ensures that even the newest members of a board grasp the basics of board duties, in addition to the organisation’s dynamics and culture.

Whether you and other directors of the board have years of board experience, or whether it’s their first board director position, all board members benefit from governance training.

Board directors have many important responsibilities. Their work is never done.

Organisations that train and educate their board directors make an important investment in their leadership and that has a direct bearing on the organisation.

Continual training in governance helps to ensure that boards are running effectively and efficiently and achieving the needs of the organisation that they represent.

Why Board Members Should Undertake Governance Training

Many people make the mistake of thinking that only new board members benefit from board training, however ideally it should be done with all board members.

Current and new board directors all bring valuable skills to the organisation they lead; both groups have much to learn from each other. No matter how long someone has been serving on the same or different boards, there are always new things to learn, new challenges to address, and new problems to solve.

Training ensures all board directors are current on governance issues which keeps them all on the same page. This makes their task a lot easier, especially when you consider that boards have much to accomplish in the space of a board meeting!

Newer board members may lack governance experience, but if they were recruited well, they will bring other valuable skills to the board. When new board members combine their existing knowledge with the basics of good governance, they have much to contribute to the board.

Good Governance Benefits Your Community

Corporate governance training has a far reaching impact; think of it as the ripple effect.

Your organisation plays a vital role within your community, and it deserves the best of skills, perspective, and leadership that the board has to offer. A responsible board quickly gains the respect of the business leaders and people living in the community; while continued governance training shows that the board values governance best practice and takes their duties seriously.

Keeping it Current

Responsible boards stay informed and current on governance issues.

The business environment is continually changing. Regulations and compliance issues are evolving. Continuing education in governance ensures that boards know what their legal responsibilities are and have the knowledge base to fulfill them.

For the Future

Something many boards fail to recognise is that their responsibilities are important not only for the current time but also for the future.

Effective boards are forward-thinking. The idea of “future-proofing” the organisation should be evident in strategic planning and fundraising efforts. It’s a good strategy to map the board’s current skills against the skills the board will need over the next three-to-five years. Gaps in needed skills are instrumental in helping with board recruitment efforts.

Overall, there are hundreds of good reasons for boards to invest in governance training - and there are no good reasons for not doing it!

One of the areas we specialise in at MJSP Management Consulting, is providing corporate governance training for boards. Contact us on (07) 3839 1233 to find out more today.