IoD Members' Update
November 2021
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Dear Member
One of the more striking revelations in our most recent quarterly Director Sentiment Monitor (DSM) survey (Q3 2021) was the finding that 34% of respondents said that their primary board doesn't have a succession plan in place to replace board members. Coupled with the finding that 45% of respondents said they were recruited as a result of a ‘direct approach from a member of the board/the board’, it is a cause for some concern that some boards are not future-proofing their business nor planning for board diversity, which is essential for an effective, high-performing board. Some boards are still relying exclusively on their own networks, which is neither an open, transparent, nor independent process.
It is reassuring, however, that an overwhelming majority (88%) of respondents to the Q3 DSM survey believes that board diversity leads to enhanced board performance and effectiveness. Board diversity brings a greater variety of different views to the decision-making process and it is worth highlighting the point – as we did in recent media opportunities via RTE, Newstalk, and more - that board succession planning is an important tenet of good governance and key pathway to diversity.
In January 2022, we begin a new round of Chartered Director Programme cohorts for aspiring Chartered Directors and below you will find details of how to begin this journey by completing an Expression of Interest form. We would be delighted to hear from you. What better way to begin the new year than with a unique programme that combines learning with professional experience…
Also, below, we provide details of a number of insightful workshops lined up this month, including ‘Setting Yourself Up for Success: A Practical Workshop for Directors of Financial Services', 'Finance Essentials for Directors', and 'Understanding the Role and Responsibilities of the Board, its Chair and Directors'.
In upcoming IoD events, Dr Margaret Cullen and Maurice Pratt will provide ‘Insights & Advice from the Boardroom' on 4th November, while Jean Evans will facilitate the next in our series of online networking events, titled 'Business Connections’ on 11th November. Both of these online events are free of charge and exclusive to IoD members only.
If you missed previous events or would like a recap, our recent, engaging webinars featuring Paul Reid of the HSE and Patricia Murray of the HSA are available 24/7 on our website or you can access them via the links below.
Thank you to all our members who took part in the aforementioned DSM Q3 survey. These surveys provide us with valuable insights and feedback on a range of governance issues and your continued engagement with our research questionnaires is much appreciated and valued.
ESG is very much a 'hot topic', and Joanne McEnteggart, Managing Director, IQ-EQ, writes an exclusive blog for IoD members in this ezine, titled ‘The Future of ESG Investing is Digitalisation’. It is a fascinating and enlightening read…
And, finally, you will have heard that I am stepping down from my role as Chief Executive of IoD Ireland in June 2022. It has been, and remains, an honour to lead the IoD. I would like to thank the President and Council for their steadfast support of so many IoD developments over the years, and I thank my colleagues for being on this journey with me, and the members of IoD who are so supportive of our work on their behalf. I will continue to dedicate myself to the organisation until June 2022 to ensure an orderly transition.
Thank you.
Maura Quinn
Chief Executive
Institute of Directors (IoD) in Ireland
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Chartered Director Programme | Places Now Open for January 2022 |
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Join the best in the business and become an IoD Chartered Director. Register your interest today to take the next step in your professional career.
Enrolment is now open for January 2022 places.
- Gain a formalised qualification as a director and strategic business leader, and ensure you have the most up to date learnings for the role and responsibilities of being a director.
- Access the gold standard of director training, and the only body in Ireland that provides the full designation and recognition as a professional Chartered Director (CDir).
- Avail of the opportunity to build your c-suite network by developing relationships with leading business leaders in Ireland.
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Director Factsheet: Companies (Corporate Enforcement Authority) Bill 2021 |
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McCann FitzGerald Factsheet
November 2021
Our latest Director Factsheet, from McCann FitzGerald, addresses the
the Companies (Corporate Enforcement Authority) Bill 2021 (the “Bill”), which was published on 3rd September 2021 and is making its way through the Houses of the Oireachtas. The primary purpose of the Bill is to transform the Office of the Director of Corporate Enforcement into a statutory and independent agency (to be known as the Corporate Enforcement Authority or “CEA”) with additional resources to investigate and prosecute so-called white-collar crime. However, the Bill also proposes a range of changes to companies legislation generally, on which this briefing focuses.
Our sincere thanks to McCann FitzGerald for their ongoing assistance in producing the IoD Factsheets.
Please note: To read this members’ only content, you must be logged into the members' area of our website. For more Director Factsheets, please visit our website.
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The IoD Blog | The Future of ESG Investing is Digitalisation |
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In this insightful, timely and exclusive blog, titled 'The Future of ESG Investing is Digitalisation', Joanne McEnteggart, Managing Director, IQ-EQ, notes: 'As the demand for ESG-driven investing rises and becomes more nuanced, data providers have followed suit - each with their own varying information, reporting components, and levels of transparency. The wide variety of available data has created some confusion by giving investors a lot to sift through. It’s far from simple to determine the magnitude and direction of an individual company’s ESG-related activities.'
Joanne offers her insights into ESG investing, the challenges of ESG data, and how 'digitalisation could be the answer'.
Previous blogs are available on our website. If you are interested in contributing to our blog or for further information, please contact Paul O'Mahony at [email protected] or call +353 1 411 0010.
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IoD Briefings Webinar: Insights and Advice from the Boardroom |
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As part of our ongoing work to share exclusive content and insights with members, we are delighted to invite you to join our upcoming IoD Briefings Webinar titled, ‘Insights & Advice from the Boardroom' with experienced non-executives, Dr Margaret Cullen and Maurice Pratt, on Thursday, 4th November.
Margaret and Maurice will give their advice and personal insights on joining the boards of a broad range of companies, from CBI-regulated financial services companies to SMEs and PLCs.
Time and Date: 09:30 - 10:30, Thursday, 4th November 2021
Presenters: Dr Margaret Cullen, Founder and Principal, Think Governance, and Maurice Pratt, Chairperson, Uniphar plc.
Online Event: This event will take place online via Zoom.
Cost: Free of charge. IoD members only.
Sponsor: IoD Ireland Briefings Series sponsored by Accenture.
Registration: Registration closes at 4.00pm Wednesday, 3rd November 2021
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Research Results: IoD Director Sentiment Monitor Q3 2021 |
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The IoD Ireland Director Sentiment Monitor (DSM) tracks our members’ sentiments across a range of issues on a quarterly basis.
The latest research covering the period Q3 2021 has just been published, which you may have read or heard about on media outlets such as RTE, Newstalk, the Business Post, Think Business, and more.
Our Director Sentiment Monitor research for Q3 2021 finds that one third (34%) of business leaders say their primary board does not have a succession plan in place to replace board members. Furthermore, 45% of board members admit they were recruited as a result of a ‘direct approach from a member of the board/the board’ even though a clear majority (96%) of the respondents believes that diversity is important when recruiting new board members.
This Director Sentiment Monitor also reveals our members' views in regard to international tax reform, Budget 2022, the phased return to the office/workplace, the effect of the Government's performance, business confidence, and financial performance.
Thank you to all who were able to take the time to complete the survey.
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A member of IoD Ireland since 2015, PJ Dwyer leads the small and medium business division at Google Cloud for the Europe, Middle East and Africa regions. Its mission is to enable digital transformation in small and medium enterprises by providing the best of Google technologies. PJ has recently been appointed to the board of Google Cloud EMEA. PJ also serves on the board of SOLAS, the State agency tasked with building a world class Further Education and Training (FET) sector. Previously, he has held many executive positions for Dell Technologies. PJ has a BComm from UCC and a Masters Degree in Marketing from the Smurfit School of Business at UCD.
What do you particularly value from your IoD membership?
The access to information and networks that membership provides. And the opportunity to complete the Chartered Director Programme a few years ago.
What are the biggest business challenges or/and opportunities that you have seen over your career to date? And how did you help to overcome or/and optimise these?
Managing through the impact of the economic crisis in 2008, I had to resize a business and team at the time. It provided an opportunity to refocus the business and team for future success and within a year we were back to profitable growth.
How do you think business leaders can best prepare for the future?
Keep abreast of the latest technology developments that may provide opportunities or disruption to their industries and businesses. Hire people with the capacity to adapt, grow and add to your culture.
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Business Connections: IoD Online Networking Event |
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We are delighted to announce the next in our series of online networking events facilitated by Jean Evans, Founder, NetworkMe, titled 'Business Connections’, on Thursday, 11th November.
In this session, Jean will provide a short introduction with tips and strategies to ensure successful online networking. There will also be three opportunities for participants to be randomly placed by Zoom into chatrooms, where you will be able to virtually meet with a small number of your fellow members.
Time and Date: 12:30 - 1:45. Thursday, 11th November 2021. This event will start promptly at 12:30.
Facilitator: Jean Evans, NetworkMe.
Online Event: This event will take place online via Zoom.
Cost: Free of charge. IoD members only.
Registration: Registration closes at 4.00pm Wednesday, 10th November 2021
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IoD Essentials Workshop Series | Setting Yourself Up for Success: A Practical Workshop for Directors of Financial Services Firms |
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Date and Time: 09:30 - 12:30, Tuesday, 9th November 2021
Trainer: Dr Margaret Cullen
Workshop costs: IoD members - €225 ex VAT; Non-members - €275 ex VAT
Format: Online via zoom
What do I Gain From this Workshop?
The workshop will provide participants with a practical understanding of the duties and responsibilities of directors of financial services entities, the unique challenges therein, and the behaviours required from directors and boards in executing these duties and responsibilities in a regulated space. This workshop is part of the IoD Essentials Workshop Series.
Participants on the workshop will gain a good understanding of:
- The legal duties of directors under the Companies Act 2014, and regulatory expectations for behaviours and standards of governance and individual directors in regulated entities.
- The role of the board in practice.
- The unique characteristics of financial services entities and the implications for directors of these entities.
- The individual characteristics of effective directors and the collective characteristics of well-functioning boards.
- The role of the board in driving cultural and ethical standards within a financial services organisation.
- An understanding of the difference between parent and subsidiary company governance and related challenges for directors.
CPD: IoD workshops may be eligible for CPD, including Chartered Director CPD. Please check with your relevant professional body.
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The IoD Blog | Building Inclusive Workplaces with Remote Access for All |
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'In the context of remote work or hybrid work opportunities, disabled employees should not be isolated from the rest of the workforce. It is important that remote or hybrid working be presented as an option for the individual as opposed to a solution to providing accommodations or adjustments.' So writes Christabelle Feeney, Director, Employers for Change at the Open Doors Initiative in exclusive blog, titled 'Building Inclusive Workplaces with Remote Access for All'.
Previous blogs are available on our website. If you are interested in contributing to our blog or for further information, please contact Paul O'Mahony at [email protected] or call +353 1 411 0010.
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IoD Essentials Workshop Series: Finance Essentials for Directors |
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This online workshop on ‘Finance Essentials for Directors' will be led by Caroline Kirrane, Chartered Financial Analyst (CFA) Charterholder, on Thursday, 11th November. This workshop is part of the IoD Essentials Workshop Series.
Date and Time: 09:30 - 12:30, Thursday, 11th November 2021
Trainer: Caroline Kirrane, Chartered Financial Analyst (CFA) Charterholder
Workshop costs: IoD members - €225 ex VAT; Non-members - €275 ex VAT
Format: Online via zoom
What do I Gain From this Workshop?
- A clear understanding of the company accounts.
- The ability to evaluate financial performance and identify red flags.
- Increased awareness in assessing the right questions to ask as a company director in uncertain times.
In this workshop, Caroline will take participants through the following five key metrics: Cash flow; Revenue; Profits; Assets; Debt.
During the workshop, Caroline will outline the following key tip for recovery: Avoid overtrading - unlike other recessions, this recovery is likely to be sharp and swift - position your business for post-COVID growth and beware of overtrading.
CPD: IoD workshops may be eligible for CPD, including Chartered Director CPD. Please check with your relevant professional body.
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IoD Webcast Recording: New Ways of Working: Building Capacity and Working Better |
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In this webinar, topics discussed by Patricia included: building capacity first while communicating "ease’'; adding opportunity and a clear roadmap so everyone sees the way; making a method and telling a story around it'; and understanding and dealing with behaviour changes.
This webinar is part of our IoD Briefings Series and is sponsored by Accenture.
Please note: To view this members' only content, you must be logged into the members' area of our website.
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IoD Essentials Workshop Series | Understanding the Role and Responsibilities of the Board, Its Chair and Directors |
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Date and Time: 09:30 - 12:30, Tuesday, 23rd November 2021
Trainer: John Smyth, Chartered Director
Workshop costs: IoD members - €225 ex VAT; Non-members - €275 ex VAT
Format: Online via zoom
What do I Gain From this Workshop?
Participants on the workshop will gain:
- A better understanding of the role and duties of directors.
- Increased knowledge of current regulatory and governance issues.
- Increased awareness of issues around directors’ liability.
CPD: IoD workshops may be eligible for CPD, including Chartered Director CPD. Please check with your relevant professional body.
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Deliver Results for Your Board: IoD Ireland Board Evaluation Service |
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An IoD Ireland Board Evaluation will allow your organisation to learn how effectively your board is executing its roles and responsibilities.
Through the lens of best practice governance standards and your organisation’s business context, IoD Ireland's experienced Board Assessors examine how effectively your board and board committees are operating.
The service is efficient, robust, and completely confidential. It has an average completion term of just six weeks. Furthermore, the entire process can be undertaken virtually.
Our team of Board Assessors include Chartered Directors and/or governance specialists - Dr Margaret Cullen, Carol Bolger CDir, Marie Collins CDir and Clare Duignan. Our Assessors have worked across sectors as diverse as telecoms, financial services, hospitality, property, healthcare, communications, construction, energy, and education.
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IoD Webcast Recording: Leading Through a Pandemic and the Lessons Learned |
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In this webinar, Paul discussed the challenges and strategies involved in tackling a global pandemic. He also provided insights and examples of his own past experiences in crisis management as a business leader.
This webinar is part of our Lunch Bites @ the IoD Series and is sponsored by IQ-EQ.
Please note: To view this members' only content, you must be logged into the members' area of our website.
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Policy and Announcements Hub |
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Budget 2022
Budget 2022 was announced on the 12th October 2021 by the Minister for Finance, Paschal Donohoe TD, and the Minister for Public Expenditure and Reform, Michael McGrath.
Project Ireland 2040: Regional Reports
Call for Expression of Interest – Enterprise Digital Advisory Forum
The Department of Enterprise, Trade and Employment invites expressions of interest from suitably qualified individuals for membership of the Enterprise Digital Advisory Forum (EDAF). The EDAF will advise and work with Government to drive industry adoption of Artificial Intelligence (AI) and other digital technologies, in accordance with the National AI Strategy and the forthcoming National Digital Strategy. Expressions of interest should be sent to [email protected]. The closing date and time for receipt of expressions of interest is 12 noon on Friday, 12th November 2021.
Revised Work Safely Protocol
A revised Work Safely Protocol has been published, which has been reviewed by employers and employee representative groups following the most recent public health advice received by Government.
Remote Working Checklist for Employers
The Government has prepared a checklist to provide employers with a quick way to navigate the adoption of remote working arrangements.
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IoD and Members in the News |
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Newstalk: Report on findings of IoD Director Sentiment Monitor Q3 research (Maura Quinn interview – audio clip expired)
RTE 2FM News: Directors stress caution (audio clip expired)
Selection of nationwide radio stations (Q102, Cork 96FM, Highland Radio, KFM, LMFM, Tipp FM, Sunshine FM, and more): Business leaders favour ‘conservative Budget’ report (audio clips expired)
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On the Bright Side…
Positive News in Business
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While there may be many negative business stories in the news recently, there are also plenty of positive ones. Here are just a few stories we have selected:
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Important Notice Regarding Access to UK Airport Lounges for IoD Ireland Members
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We have been made aware of some confusion regarding the availability of this benefit to IoD Ireland members.
Please note this benefit is exclusively available to IoD Ireland members only, and not to IoD UK members.
An urgent memo was issued by Aspire, who operate the UK Lounges, to all staff (Monday, 27th September 2021) to resolve this issue, and confirmed that IoD Ireland members can access the lounge free of charge with any accompanying guest pays the reduced entry price of £15.99.
IoD Ireland is a separate entity to IoD UK and as a result has a separate contract with Aspire.
Please note: This does not apply to DAA Lounges in Dublin and Cork airports.
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IoD Member Benefit: Complimentary Access to Airport Lounges
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IoD Ireland members can avail of complimentary access to airport lounges in Dublin, Cork, and Shannon, as well as 16 executive airport lounges in the UK and Europe.
Benefit Availability
This benefit is open to all IoD members.
How to Avail of the Member Benefit
The next time you are travelling for business or pleasure why not avail of this member benefit to ensure a relaxing travelling experience. To access the lounge, please note the following:
- Present your valid IoD Ireland membership card to the attendant at the Executive Lounge. Please note: the lounge will also accept a digital version of your membership card, which can be found on your member dashboard on the IoD website. Contact the membership team if you have any queries in regards to this.
- The attendant will check the name on your membership card against your boarding pass.
- The IoD Ireland membership card must not be out-of-date.
- The name on the IoD Ireland membership card must match that of the boarding pass.
- The maximum-allowed length of stay is three hours per visit.
- Members' guests are welcome to attend but must pay the general admission.
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IoD Member Benefit: 15% Off Your Stay in Any Original Irish Hotel...
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Get 15% off your stay in any Original Irish Hotel...
What is the IoD Ireland Member Benefit?
A 15% discount on the best available rates. This offer is subject to availability and only applies to daily online rates, not special offers.
Benefit Availability
This benefit is available to all members until 31st December 2021, subject to availability.
Background on the Original Irish Hotels
Original Irish Hotels are a collection of 60 unique, owner-run hotels, located in Ireland’s most outstanding destinations. No two Original Irish Hotels are the same. Open the door to the magic of unmissable moments with Ireland’s leading collection of independent hotels. From historic castles to chic urban boutiques, each of our hotels is as diverse as the destinations that define them. Our hotels offer true local character and a unique, warm welcome that tells you you’re not just another room number. For more information visit the Original Irish Hotels website.
How to Avail of the Member Benefit
To avail of this offer simply visit the Original Irish Hotels website and enter the unique IoD discount code - this will automatically discount 15% off the best available rate. To find this code, please click on the below link and login to the member area of this website and the code will display at the bottom of this website page.
Please note all member benefits are subject to availability. This discount only applies to daily online rates, not special offers.
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The Institute of Directors (IoD) in Ireland would like to express its thanks and best wishes to our former Senior Events Executive, Sharon Kirwan, as she leaves the IoD for pastures and challenges new.
Sharon has been at the forefront of our events for many years. She will be missed by IoD members and all of her colleagues. We wish her 'all the best' and every happiness.
Pictured above, left to right: Sharon Kirwan, Lisa Sweeney, and Thora Mackey, all of IoD Ireland.
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Get the Most Out of Your Membership
with the IoD Ireland Website
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Make the most of your membership and explore the IoD Ireland website for exclusive content, offers, as well as booking webinars and workshops, and easily access your membership information.
If you have not yet created your new login details, please follow the below steps to get the most out of your IoD Ireland membership:
Step one: browse to this IoD Ireland website page and on the left hand side of the screen in the 'Returning Members' section please press the 'Password Reset' button. Please then enter your email address to reset your password.
Step two: you will receive a ‘Password Set Request’ email. Please click on the link in this email to create your password and login to access the exclusive members’ area of the IoD Ireland website. (If you do not receive this email, please check your spam/junk email.)
If you have any queries or issues regarding the above, please contact the IoD Comms team.
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Follow our company page on LinkedIn for the latest updates. |
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Follow our latest updates at @IoDIreland and #IoDevents.
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