For any new director, a learning curve comes with the territory. Just how steep that learning curve is, however - and how quickly a new director is able to contribute meaningfully to the work of the board and its committees - can hinge directly on the quality of the induction process.
Understanding the business –its operations, strategies, risks, competitive landscape, and management team –as well as the responsibilitiesand culture of the board and its committees takestime.
But a structured induction programme –including essential information and briefing materials, quality discussions with key people, and a “roadmap” for getting up to speed –can greatly accelerate a new non-executive director's integration and contributionto the board’swork.
We discuss a number of things for new directors to consider as part of an overall on-boarding framework.