Bringing the next generation into company boardrooms

To diversify the future director pool, more businesses are offering apprenticeships.

Courses and diplomas, including ones provided by the Corporate Governance Institute cover aspects of governance, management, finance and strategy for candidates seeking board seats.

An interesting feature in the Financial Times examined the complex issue of landing a high-profile non-executive position on a board.

Becoming a board member and non-executive director was typically the preserve of older, white men who had successful corporate careers.

However, the FT article followed the path of a 44-year-old woman of Indian origin, Rupal Patel.

Patel believes the world of non-executive directors is “a closed circle of who you know”.

So, to break into the circle she decided to gain practical experience in a boardroom.

Her first step was to contact Heather White, who facilitates boardroom apprenticeships to help executives get into NED roles.

In exchange for a fee, White matches candidates with a host board for a 12-month stint as an observer.

They receive mentoring from the chair, but also a coach to assist them in navigating boardroom relationships. (Everyone signs non-disclosure agreements.)

In the UK, boardroom apprenticeships are still a new idea and little data is available on how many convert into non-executive directors.

But demand is rising, according to White.

For candidates, such schemes provide insight into what a seat on a corporate board involves and are a way to boost their CV.

It’s also an opportunity to “try before you buy”, according to the chair of one of the boards that hosted an apprentice before hiring them as a non-executive director.

Board director training is also essential, says the FT article.

“Courses and diplomas, including ones provided by the Corporate Governance Institute, the Institute of Directors and by the Financial Times, are covering aspects of governance, management, finance and strategy for candidates seeking board seats.”

You can read the full piece here: How the next generation is breaking into boardrooms.