Institute of Directors Ireland’s new professional development framework will empower directors

The role of being a director is perhaps one of the most all-encompassing roles. From strategy formulation to risk management and internal control to responding to the competitive and macro-economic/political environment, boards and directors require a comprehensive and ever-evolving competency toolkit.

Enter the Institute of Directors Ireland (IOD), with its new Continuing Professional Development (CPD) Framework designed to empower directors in how they respond to their internal and external environment towards executing their responsibilities.

"The aim of this CPD Framework is to empower directors to be more agile in handling the various challenges that often arise simultaneously," said Caroline Spillane CDir, Chief Executive Officer at the Institute of Directors in Ireland.

As Spillane outlined, this encompasses everything from operational resilience, addressing issues like global pandemics, environmental, social, and governance criteria (ESG), the emergence and evolution of artificial intelligence (AI), and the constant, growing threat of cybersecurity hacks and attacks.

With the newly crafted CPD Framework, the goal is to empower directors to adapt to the ever-evolving policy, regulatory, macroeconomic, and governance landscape within which they operate.

As Spillane explains, the CPD Framework is grounded in a practical approach with the primary focus on preparing leaders for real-world scenarios where they can delve deep and draw upon what they have learned.

To ensure directors have the appropriate depths across a range of competencies, IoD Ireland has assembled a team of distinguished associate faculty to deliver a suite of programmes based off the CPD Framework.

This team comprises Carol Bolger, Chair of An Post; Professor Simon Haslam of Durham University, co-author of the acclaimed business book "Strategic Decision Making".

The governance of the IoD Ireland CPD Framework for Directors will be overseen by a Professional Development Advisory Committee, in collaboration with the IoD Ireland team.

This includes Eileen Gleeson, a former Adviser to President Mary McAleese; Dr. Terry McWade, a former CEO of the Royal College of Physicians of Ireland; and Dr. Margaret Cullen, Governance Advisor to IoD Ireland and associate faculty with the UCD Michael Smurfit Business School, and Caroline Kinsella, Board and Member Services Director for the Institute of Directors in Ireland.

"The primary aim of this Framework is to contribute to our vision of establishing Ireland as a model of corporate governance," Spillane said.

The CPD Framework will be delivered through top-tier executive education programmes and disseminated to members through various support channels, including member events and member resources. Furthermore, it will guide IoD Irelands’ research, policy formulation, and advocacy efforts on behalf of members.

Ultimately, it serves as an invaluable resource for members and their boards, facilitating skills assessment, succession planning, and board development within the business landscape.

The core competencies

As IoD Ireland celebrates its thirtieth anniversary this year, it has drawn upon its extensive research to shape the Continuing Professional Development (CPD) Framework around four core areas.

As Spillane explained, the framework has four dimensions of competency: Governance Framework, Technical Knowledge and Skills, Creative Strategy Formulation, and Psychology of the Boardroom.

"Through these four competency dimensions, the framework covers a wide breadth of areas from ensuring that directors understand the legal duties of being a board member to technical knowledge and skills, encompassing topics such as ESG, cybersecurity, and the burgeoning field of artificial intelligence," Spillane explained.

Another dimension is dedicated to strategy, helping directors competently formulate a business strategy, while the fourth dimension focuses on the psychology of the boardroom.

"The psychology component encompasses aspects like leadership in the boardroom, and boardroom dynamics," Spillane said.

For IoD Ireland, these four dimensions of competency will underpin all the programmes they offer.

The highly successful Chartered Director Programme which IoD exclusively delivers in Ireland has been mapped against this Framework and works hand in glove with the Learning and Development offerings that sit alongside this unique qualification.

"We firmly believe that these are the competencies that every board should possess, and our goal is to empower directors to acquire competencies of appropriate depth and breadth to contribute to collective board strength," Spillane said.

Real leaders

As Spillane noted, time is a resource and every director wishes they had more of it. IoD Ireland has developed its suite of programmes with this in mind, delivering both online and in classroom settings for its executive programmes.

"We stand apart in that it's always a live experience," Spillane said, highlighting the importance of this aspect. She noted that time and again, directors have emphasised the significance of being in the same room with their peers.

"Firstly, there's the opportunity to have direct conversations with the programme leader and tap into their expertise. Peer to peer learning is a core characteristic of executive education. Being in a room with your peers fosters analysis, debate, and the chance to learn from the collective wealth of experience."

Another key strength of the programmes underpinning the CPD Framework is that it's a "framework for directors, made by directors," Spillane said.

"Our programme leaders impart knowledge based on their own experiences,” said Spillane.

As an example, she highlighted the course delivered by Carol Bolger, the Chair of An Post, who leads a workshop on empowering directors to become 'board ready.'

"The feedback we receive from our members underscores the pivotal role of the workshop leaders. Yet, it's also about the individuals in the classroom – fellow directors in the training programme – and the connections, support, and debates that arise from this collaborative environment."

Taken together, IoD Ireland’s Continuing Professional Development Framework will ensure that directors are ready for whatever challenges and opportunities arise. See iodireland.ie