Training Magazine - June 2008 - (Page 52)

AcrossBoard debate” that isn’t possible in groups Michael O’Connor . Nowadays, orientawith more disparate levels of experition is the first thing new board ence. Some of that training can be members do. At this lending co-op for • Orientation for new directors—fiduciary handled in-house, using either outside farmers, he says, directors are elected by duties, how governance works, company experts or management as speakers. the co-op members. Board education operations and facilities Internal education has the advantage of begins with a one-day basic orientation, • Updates on industry, government practices, letting the board focus tightly on its followed the next day with more investor relations own issues without risk of breaching detailed training geared to specific • Metrics—how to measure board board confidentiality. needs. The big education needs for First effectiveness External programs, such as the Pioneer, he says, tend to be more • HR issues—executive compensation, Stanford Directors’ Forum, avoid that detailed financial training, but it must succession planning, talent retention, etc. blur and generally cover fiduciary relate directly to directors’ day-to-day • Process facilitation—setting training duties, regulatory issues, recent court responsibilities. A few years ago, for objectives, arranging logistics, etc. decisions, and leading practices. Their example, a training session featured a advantage is the cross-fertilization of ideas that comes from simulated review of a credit committee package to help the board exposing directors to their counterparts in other industries. And, better understand the reports for individual loans. as Catherine Bromilow, partner and lead, Corporate Governance “Training is all funneled through the governance committee,” Group at PricewaterhouseCoopers adds, education through forO’Connor says, but “there’s a significant overlap between training mal, external sessions is easy to document. staff and board members” in such areas as diversity and other typically HR topics. So, First Pioneer often uses the same training Online courses offer another option, letting directors complete necessary training on their own schedules. The strengths, Cellini organization but different sessions for its staff and its directors. says, are that the company has a record of what training was Even when employees and directors have the same training taken, test results to document comprehension, and a record of needs, it’s better to have separate sessions, Stanford Directors’ what each director studied. When possible, experts note, a mix of Forum’s Larcker says.“Directors are usually on the same page,”he programs and venues is optimal. t explains, “so we can discuss more complicated issues and have the Where HR Adds Value 52 | JUNE 2008 t r a i n i n g w w w. t r a i n i n g m a g . c o m http://www.carastraining.com http://www.carastraining.com http://www.trainingmag.com

Table of Contents Feed for the Digital Edition of Training Magazine - June 2008

Training Magazine - June 2008 Contents Online TOC Editor’s Note Live & Online Training Today Soapbox How-To World View Changes With Penguins Keeping Forced Ranking Out of Court Across the Board Certify Me Meetings CPR How Secure Is Your Data? Training Leadership Summit Wrap-Up Tools of the Trade Inprint Questions for Covey

Training Magazine - June 2008

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