Governance Playbook ‘Director education and training: How to prepare your board for the road ahead’, sponsored by SAI360, provides expert advice from governance professionals and board members on a key element of their work in supporting boards. It lays out actionable steps and best practices for corporate secretaries seeking to design and adapt their training programs to help their board successfully carry out its duties and help the company thrive.
Key findings
- Education and training is essential if the board is to fulfill its duties in overseeing the company and protecting long-term shareholder value. Failure to provide effective education can lead to serious problems for the organization.
- In early 2024, governance professionals report a wide range of topics fueling demand for board education. These include: disclosures around cyber-security, climate change and human capital management; AI risks and opportunities; taking corporate positions on social and political matters, particularly in a US election year; and shareholder activism.
- In setting an education agenda, corporate secretaries should find out what the board wants and needs by asking directors, looking for issues where board members may not appear confident and keeping track of a wide range of emerging issues as well as resources such as outside speakers, online training, podcasts, conferences and webinars.
- Directors should receive an annual reminder of their core duties and responsibilities, in addition to emerging issues or special events such as major M&A deals.
- Technology can be particularly helpful for directors who wish to engage in training independently on their own schedule by enabling them to take part in short and tailored sessions.
