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A national initiative which gives aspiring directors the experience of life around the boardroom table is being extended to Guernsey.
Board Apprentice, which is run by a group of people who sit on various boards and have extensive experience around the boardroom tables of listed and unlisted companies, was founded to help educate and train future board members and widen and diversify the pool of board ready individuals.
"As today’s leaders and the leaders of the companies on whose boards we serve, we felt that we should be taking the initiative in focusing on succession planning by nurturing directors of the future and solving the diversity issues at hand", said Charlotte Valeur, who founded Board Apprentice.
Mrs Valeur said Board Apprentice introduces potential future directors into the boardroom and gives them 12 months experience of how the board of a company is run. She believes the initiative has multiple benefits.
"These individuals will grow, develop and diversify our current pool of board members who will make a valuable contribution to any board which will add to the bottom line of companies and, in turn, to the overall competitiveness and balance of our economies," she said.
"It widens and diversifies the pool of board-ready individuals by giving them hands on experience of the workings of a board before they are appointed as an actual director...This will ensure they can contribute from day one instead of needing time to gain the necessary skills needed to run a company at board level, which can be very different from just being a part of that business."
The GTA University Centre has been appointed as executive ambassador and administrator of the scheme in Guernsey. As part of the Guernsey Selection Group it will oversee the selection process to ensure that apprentices have the necessary insight into corporate governance and board operation and have suitable experience and background. They then match individuals to companies who volunteer to be involved.
"The GTA University Centre exists to ensure that the island’s workforce have access to the training they need to fulfil their roles. We have a number of initiatives aimed at developing individuals’ skills and expertise including the IOD Company Direction Programme, MBA and our successful director development series," said GTA chief executive Simon Le Tocq.
"The one thing we have been unable to do is bridge the gap between ensuring future leaders have the skills and qualifications they need and providing them with the experience. The Board Apprentice initiative allows us to complete that pathway and I am confident that it will prove invaluable to both the individuals and the companies who are involved."
Board apprentices will be appointed for a year and will commit to the duties of board members including reading board packs and attending meetings; however they will not contribute in any way to the decision-making process. They are also expected to attend Annual General Meetings (if applicable) and other board-related activities which take place outside of scheduled board meetings. The apprentice may be assigned to a board in the UK, Jersey or Guernsey and will cover all their own expenses.
"Apprenticeships are not a new concept but having apprentices on the board is very innovative. It will enable Guernsey boards to focus on succession planning and diversity of experience and the innovation and growth that can bring," said Mr Le Tocq.
The initiative launches on 23rd March and more information is available from Liesel Lindsay, GTA University Centre programmes manager, by emailing liesel.lindsay@gta.gg.
