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Board Matters
Case Study - Board-Ready People
The Problem
An
insurance firm was rapidly expanding by diversifying, acquiring and exploring
other jurisdictions. Each new venture was set up under another legal entity,
which then needed its own Board. Within the firm there was a lot of talent, but
less Board experience than required for the firm’s plans over the next five
years. In a soft market they were also concerned that their best talent might
be wooed to join rival firms.
The solution
We
proposed a Board readiness programme:
Stage
1: Identify overall concerns and key individuals who would benefit from Board
development (either as recently promoted Board members, or with the potential
Stage 2: Design bespoke content with Head of Talent Managementand CEO to
include some people/Board development (Board dynamics, Boardroom behaviours)
and some key technical sessions that would stand them in good stead as Board
members
Stage 3: Invite key individuals to join the programme, with the first 12
respondents being given places on the first year’s programme
Stage 4: Roll out of programme of one intense day every couple of months with
further study/practice/implementation of learning in between modules. Each
module to be followed by a feedback session with the Head of Talent Management
Stage 5: Final session to include a Mock Board meeting and pulling together of
whole programme
Stage 6: Debrief with Head of Talent Management
The
Programme was full, with a waiting list for the following year within a week of
being announced.
As the programme developed and we could see individual and
team needs emerge throughout sessions we adapted the programme to enhance their
experience at every step of the way.
The results
Three
of the delegates are now much more confident in their subsidiary Board
roles.One delegate has been promoted to the main Board, others are more
Board-ready and all say that it has improved the way they run their individual
teams and departments. The Head of Talent Management is delighted with their
progress.