IoD Members' Update
October 2021

Dear Member

There are many key milestones on the national and international agenda in the coming weeks, which will have potentially serious ramifications for our economy and wider society. Budget 2022 and the National Development Plan are looming large, as is October 22nd, the date when the remaining pandemic restrictions are due to lifted. The OECD taxation reform conference, and the COP36 Climate Change Conference, also look set to be of particular significance at home and abroad. 

In parallel with these developments, many businesses and sectors will be continuing to adjust to the new ways and means of working. 

With our Chartered Director Programme back in class at the Irish Management Institute (IMI), we are delighted to announce that places for the January 2022 programme are now open for booking. I would encourage you to take the next step in your director career and undertake the Programme. (See panel below for more information.)

We are also pleased to announce that our new online course, which commenced this morning, titled, ‘Leading Sustainability: What Directors Need to Know and Do’ has sold out, as has our 'Chairing Boards and Committees' online workshop. At the time of publication, we still have limited places available for our upcoming online workshops over the coming weeks: ‘The Changing Role of the Company Secretary’ (led by John Smyth CDir), 'Getting Yourself Board Ready’ (led by Carol Bolger CDir), and ‘Setting Yourself up for Success: A Practical Workshop for Directors of Financial Services’ (led by Dr Margaret Cullen).

In case you missed them or would like to recap, our two most recent events in the IoD Briefings Series, sponsored by Accenture, are now available 24/7 as webcasts (see links below). They cover the key topics of ‘Technology and the Board’ and ‘Accelerating and Amplifying Impact: How Directors Can Enhance Their Climate Response’. Also, online as a webcast, is the latest in our Lunch Bites @ the IoD Series, sponsored by IQ-EQ, featuring the recently elected TD, Ivana Bacik, on the engaging topic of ‘Women in Politics’.

Environmental, social and governance (ESG) matters have come into sharp focus in recent times, especially since the onset of the COVID-19 pandemic and the many issues it has raised. IoD Ireland has teamed up with the internationally renowned Diligent Institute to add to our understanding of how you view these matters. I would appreciate your participation as an IoD member in this short but important survey, the results of will be published in November.

Thank you.

Maura Quinn
Chief Executive
Institute of Directors (IoD) in Ireland
ESG Leadership Survey | An IoD Ireland Survey in Partnership with the Diligent Institute
IoD Ireland is delighted to invite you to share your views in our ESG Leadership Survey.

The Institute of Directors (IoD) in Ireland and the Diligent Institute are conducting this survey to further understand how companies and their directors/leadership address the key area of environmental, social and governance (ESG) matters.

The average completion time is five minutes.

Please note this survey is being done in partnership with the Diligent Institute.
All survey responses are completely anonymous, and there will be no transfer of any member data to the Diligent Institute in relation to analysing these findings.

(Please note: As the survey is anonymous, we are unable to identify who has already completed it. If you have already completed this survey, please ignore this email and thank you for your views.)
Director Factsheet: Senior Executive Accountability Regime Update
McCann FitzGerald Factsheet
October 2021


Our latest Director Factsheet, from McCann FitzGerald, addresses the Gender Pay Gap Information Act 2021 (the “Act”), which was signed into law on 13th July 2021.

The Act, once commenced by ministerial order, will amend the Employment Equality Act 1998, requiring the Minister for Children, Equality, Disability, Integration and Youth (the “Minister”) to make regulations requiring private and public sector employers (subject to employment thresholds) to report and publish information relating to their gender pay gap, and, where there is a gap, to explain why there is a gap and what measures are being taken to reduce it.

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.
The IoD Blog | Six Signals of Business Change That Should Be on Every Leader’s Radar 
'As Ireland recovers from the global pandemic, businesses are left facing a new challenge: to identify what works for a new and evolving today and what will be required to thrive tomorrow,' writes Antony Keane, Managing Director, Strategy and Consulting Lead, Accenture in Ireland.

In our latest blog, and referencing Accenture’s Business Futures 2021 report, Antony outlines six key signals of business change that are reshaping organisations globally and will be critically important for leaders to understand in order to drive success today and beyond.

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 pomahony@iodireland.ie or call +353 1 411 0010.
Chartered Director Programme | Places Now Open for January 2022
Why not take the next step in your director career and become a Chartered Director. Places for the January 2022 programme are now open for booking.

The IoD Chartered Director Programme is the only Programme in the Republic of Ireland that provides the full designation and recognition as a professional Chartered Company Director (CDir). We are now back in the classroom, so why not submit your interest today.

Why Should I do This Programme?

The Programme offers a unique qualification for directors and strategic business leaders in Ireland. Combining learning and professional experience, the Chartered Director Programme will equip you with the all-round skills, knowledge and understanding essential to effectively and successfully lead your organisation.

Join over 1,300 senior business leaders who have already undertaken this prestigious Programme.

How Can I Apply?

Applicants should initiate the application process by first completing and submitting an Expression of Interest Form after which you will be contacted by the Programme Director, Eileen Gleeson, to discuss your application.

Only those who have completed this process can be offered a place on upcoming cohorts (there is no obligation to take up the offer once it has been made).
Meet a Member
Tadhg O’Halloran is the Group Head of Human Resources for the past eight years and a member of the Senior Leadership Team at Lakeland Dairies Co-Operative Society.

Lakeland Dairies is the second largest dairy processor on the island of Ireland with a turnover in excess of €1bn and a global export reach to circa 90 countries. Tadhg is also a director of a number of subsidiary companies within the Lakeland Group.

How do you think business leaders can best prepare for the future? 
Look to the past and learn from the mistakes we have made. Be open to new learnings and the opinions of others. Follow the science in relation to everything but particularly the environment because if we don’t then the future will be grim indeed. 

What do you value the most from your IoD membership to date? 
As a new member, I am only starting to get to grips with the extensive scope of supports available from the IoD but what I have experienced so far has been amazing.

What do you hope to gain from your membership with the IoD?
As a business leader and a director of subsidiary companies within the Lakeland Group, I am keen to avail of the supports and services of the IoD to further develop my skills and network and, in time, to hopefully be in a position to take up opportunities as a non-executive director in the commercial and not-for-profit sectors.
IoD Essentials Workshop Series | Setting Yourself Up for Success: A Practical Workshop for Directors of Financial Services Firms
This new online workshop on ‘Setting Yourself up for Success: A Practical Workshop for Directors of Financial Services' will be led by Dr Margaret Cullen.

Date: 9th November 2021
Time: 09:30 - 12:30
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.
 IoD Webcast Recording: Accelerating and Amplifying Impact: How Directors Can Enhance their Climate Response
In this IoD Briefings Series webinar, recorded on 30th September 2021, Clare Nickson Havens, Sustainability Expert and Strategic Board Advisor, addressed the issue of ‘Accelerating and Amplifying Impact: How Directors can Enhance their Climate Response’.

In the webinar, Clare discussed the following key elements: how directors can evaluate how they are thinking about sustainability; how an active mindset is different to a growth mindset; how an active mindset for sustainability can be a competitive advantage; what directors can do right now to accelerate and amplify their climate response. Please note the slide deck from the webinar is also available at the below link. 

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. 
IoD Essentials Workshop Series: Finance Essentials for Directors
This online workshop on ‘Finance Essentials for Directors' will be led by Caroline Kirrane, Chartered Financial Analyst (CFA) Charterholder. This workshop is part of the IoD Essentials Workshop Series. 

Date: 11th November 2021
Time: 09:30 - 12:30
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.
Deliver Results for Your Board: IoD Ireland Board Evaluation Service
Dr Margaret Cullen, a Board Evaluation Assessor with the Institute of Directors (IoD) in Ireland, recently contributed an insightful article to the Irish Independent newspaper, titled 'Directors’ Behaviours Are Often the Root Cause of Corporate Board Failings'. The article addresses the importance of independent board evaluations for corporate governance best practice.

An IoD Ireland Board Evaluation Service 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.
 IoD Webcast Recording: Women in Politics
In this Lunch Bites @ the IoD webinar recorded on Thursday, 16th September, Ivana Bacik TD, Dublin Bay South, presented her webinar titled 'Women in Politics'.

In this webinar, Ivana discussed the current landscape for women working or hoping to work in politics, the issues they face, and barriers to their progression.

During the webinar, Ivana Bacik TD also referenced an Oireachtas report on this key issue. This report can be downloaded here: ‘Women’s Participation in Politics October 2009’.

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. 
Policy and Announcements Hub
Fitness and Probity Update - CBI Issues Notice of Intention to Amend the List of Pre-Approval Controlled Functions
On 22 September 2021, the Central Bank of Ireland (the “CBI”) issued a notice of intention to amend the list of pre-approval controlled functions (“PCFs”). McCann FitzGerald notes that, 'The CBI considers the amendments to the list of PCFs warranted on the basis of its supervisory experience and in view of the changing structure of, and landscape surrounding, the Irish financial services industry. The proposed amendments to the list of PCFs will be applicable to all Irish regulated financial service providers (“RFSPs”) other than credit unions, save for the removal of PCF-31 Head of Investment which will only be relevant for investment firms.'

COVID-19 National Protocol for Employers and Workers
The Government has published 'Reframing the Challenge, Continuing our Recovery and Reconnecting', which sets out the national approach to the further reopening of society from 20th September 2021 in advance of a further planned relaxation of restrictions from 22nd October 2021. A key element of 'Reframing the Challenge, Continuing our Recovery and Reconnecting' is the facilitation of a phased and staggered return to the workplace for specific business requirements and includes a work safety protocol.

Business Resumption Support Scheme (BRSS) open for registration
The Minister for Finance, Paschal Donohoe, T.D., has announced that the Business Resumption Support Scheme (BRSS) is now open for registration on the Revenue Online Service (ROS). The BRSS is a new support scheme for businesses with reduced turnover as a result of public health restrictions. Businesses will be required to have tax clearance and payment will be conditional on the business actively trading on 1st September with an intention to continue to trade. 

Public Consultation on the transposition by primary legislation of EU Directive 2019/1152 on Transparent and Predictable Working Conditions
The Department of Enterprise, Trade and Employment is seeking views on new rights to improve terms and conditions for workers. Directive 2019/1152 (EU) 2019/1152 of the European Parliament and of the Council of 20th June 2019 on transparent and predictable working conditions in the European Union aims at improving working conditions by promoting more transparent and predictable employment while ensuring labour market adaptability. Transposition of the EU Directive will ensure that these rights cover all workers in all forms of work, including those in the most flexible non-standard and new forms of work such as zero-hour contracts, casual work, domestic work, voucher-based work or platform work. The deadline for responses is 3pm on Monday, 25th October 2021. Submissions should be sent to: TAPW@enterprise.gov.ie.

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.

ODCE to transition into Corporate Enforcement Authority
The Director of Corporate Enforcement has welcomed the Government's approval of the Companies (Corporate Enforcement Authority) Bill 2021. This Bill paves the way for the establishment of the Corporate Enforcement Authority.
On the Bright Side…
Positive News in Business
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:

IoD and Members in the News
RTE.ie: One third of business leaders say Covid has changed required skills sets
The Irish Times: Pandemic triggers change in in-demand skills for board members
IFSC.ie: Business Leaders Say COVID-19 Pandemic Has Altered Skills Sets and Expertise for Their Board
RTE.ie: Broad welcome from business groups for reopening update
Breaking News: Taoiseach says 'We will rebuild our economy', restrictions to be lifted by October 22nd
Silicon Republic: The green light: Employers must be cautious when returning to offices
Waterford-News.ie: Welcome for Government steps to reopen economy
EchoLive.ie: Hospitality chiefs welcome Government steps to reopen economy
West Cork People: Resurgence of optimism among business leaders (print edition)
The Irish Times: IoD/IAPI seminar - ‘Position your brand for the consumers of tomorrow’.
Important Notice Regarding Access to UK Airport Lounges for IoD Ireland Members
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. 

If you have any issues with access due to this, please flag this memo with the attendant. If any issues persist, please contact customerrelations@executivelounges.com and membership@iodireland.ie.

Please note: This does not apply to DAA Lounges in Dublin and Cork airports.
IoD Member Benefit: Complimentary Access to Airport Lounges
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.
Get the Most Out of Your Membership
with the IoD Ireland Website
Have you reset your password and accessed the new members' area on the IoD Ireland website? If so, you will have already gained access to our exclusive member only content, such as webcasts, Director Factsheets, blogs and much more.

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.
Connect with the IoD
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Follow our latest updates at @IoDIreland and #IoDevents.