The objective of induction is to provide a new director with the information that he or she will need to become as effective as possible in their role within the shortest practicable time. This guidance note defines good practice for board-level induction, and includes a range of helpful checklists and suggestions for those creating their own induction programmes for new directors.
In 2003, the Higgs Suggestions for Good Practice stated that the induction process should aim to achieve three things, which remain relevant today:
- build an understanding of the nature of the company, its business and its markets
- build a link with the company’s people
- build an understanding of of the company’s main relationships.
This note outlines how to create a successful induction programme, drawing upon the Higgs suggestions and an understanding of both the role of a director, and the framework in which the board operates. In addition to checklists of topics and documents, the guidance note highlights the time that you may need to allow for such a programme to be completed.
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