How you can boost your director professional development to maintain your currency and strengthen your capability as a director.
What are your goals for this year and the next? How might you stretch yourself or influence others to achieve improvements in director, board or governance effectiveness?
Have you thought about gaps that exist in your directorship knowledge, or about barriers to effective performance on your boards or within your organisation? And, about solutions to these?
Your answers may provide a helpful frame for thinking about Director Professional Development (DPD). Maintaining currency and strengthening capability in governance and directorship through professional development demonstrates a dedication to achieving excellence in governance and performance.
Your professional learning is now more important than ever.
Since your membership renewal in 2013, you are now operating within Company Directors’ DPD system. Your target is to accrue a minimum of 60 DPD units by your renewal date in 2016 – that is, an average of 20 DPD units per year for three years.
Optimise your DPD engagement and DPD unit accrual by checking the following points:
- Any activity undertaken that has contributed to your directorship and governance expertise counts as DPD. Eligible activity is wide-ranging, including services offered by third parties, as well as informal learning from expert peers and advisers on governance and directorship matters. Examples include briefings or events; participation in a course or webinar; and formal and informal focused discussions.
- Consider the regular activities you already undertake to remain current to see what is eligible for DPD recognition – for example, professional reading, including Company Director magazine (10 DPD units max per year); expert briefings and seminars focused on governance and board matters (5 DPD units); and contributions to improving governance and directorship through writing articles, making presentations and participating in discussions.
- You can “double dip” on the CPD you undertake to maintain your membership or accreditation from professional associations if it extends or contributes to your directorship and governance expertise. A guide on accruing units from services offered from other organisations is available at www.companydirectors.com.au/dpd
- Plan to attend the complimentary Essential Director Update each year (or access the webinar or recording) to accrue 10 DPD units and look out for complimentary webinars and other offerings especially for members.
- The online Director Self-assessment Tool, a confidential service for members, is designed to help you assess your governance and directorship strengths and potential areas for growth. Member feedback indicates this tool is a handy starting point to think about professional learning. www.companydirectors.com.au/thetool.
- Record DPD units not automatically recorded (such as Professional Reading) in any way you choose, but do check out the simple logging system provided on MySite for your convenience.
Your three foundation years to build to the mandatory 60 DPD units target is underway. It is a good idea to plan for a steady accrual of DPD units so there is no need to rush to reach the target by your member renewal in 2016.
DPD provides a platform to recognise the commitment to excellence through professional learning and activity that has always been undertaken by our members.
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