Tailored Training for Complex Business Critical Issues
Rutherford HR was approached by a client within the banking sector with a unique challenge.
Many of their senior staff took on Non-Executive responsibilities in organisations that the business had invested in. Despite their particularly strong commercial acumen, these individuals were insufficiently equipped to manage an increasingly large and complex set of non-financial risks, regulatory pressures and changing stakeholder expectations from a Board governance perspective.
A closer look at the challenges
Our client needed an effective, pragmatic way to educate and upskill these individuals occupying board positions. They needed their people to not only understand, but confidently navigate the intricacies and non-financial risks faced by the organisations that they had invested in and held fiduciary responsibilities for.
Building a new mindset and skillset
While the audience for the training were skilled in deal-making and analysing companies from a financial standpoint — they were less prepared for governance roles - both in their thinking styles (understanding a governance perspective from an active operational one) and skills perspective (understanding how to influence from a board perspective and gaining a deeper understanding of contemporary non-financial risks).
Compliance training overload
Like many organisations compliance, risk and governance training was mandated and frequently expected. The addition of more training - often on similar topics such as conflicts of interest, cybersecurity, data privacy and reputational risk was not enthusiastically received by the audience.
A complicated stakeholder environment
The development task was complicated by multiple stakeholders, who were keen to see the training developed, who wanted to contribute and ensure certain content included but who were unable to provide resourcing to support its development
Jurisdictional differences, globally
We had to account for jurisdictional differences across the globe with the solution being relevant, accessible, and adaptable for individuals in multiple geographies and facing local jurisdictional differences.
Changing expectations and audience
As investments were made and completed, membership of the audience changed. In addition, the expectations of stakeholders evolved as regulation evolved. As a result, the brief frequently changed and priorities shifted.
Previous attempts to fix the problem
Before engaging Rutherford HR, our client had made several unsuccessful attempts to educate this critical audience; including a full-time hire - who was unable to navigate the stakeholder challenges and engaging a prominent provider using an Australia-based program. However, they soon recognised the shortfall and inadequacy of this approach.
The need for a pragmatic approach
The client needed a training solution that went beyond theory — a program designed to prepare them employees for real-world scenarios they could face on a daily basis in their roles. Our client trusted us to instil a level of preparedness, practical knowledge, and nuanced understanding of investment risks.
Rutherford HR’s approach in action
1. Groundwork
The first step Rutherford HR took was to shift the focus from central stakeholders to the actual audience. Instead of assuming what topics the central stakeholders thought were necessary — we engaged directly with the audience members to understand their specific needs and concerns.
By consulting, we gained buy-in from the participants by allowing them to communicate their specific challenges and needs. We also gained insights into the best methods and content for delivering the training, ensuring it was practical, relevant to the different investment contexts and consumable given their additional work pressures.
Recognising that the individuals excel in commercial situations, we identified the need to focus on "core competencies" for Non-Executive roles. These included risks not included in their existing training curriculum, such as employment legislation, whistleblowing, and managing conflicts of interest.
2. Model & curriculum building
Because of our tailored information-gathering approach, we were able to make training efforts more engaging and directly applicable for the participants. We also used an "information-sharing and discussion" model, rather than a presentation led approach.
This provided more space for participants to ask critical questions, spot potential issues, and build the practical knowledge they needed. It also helped them self identify gaps in their capability.
The curriculum we designed covered eight key topics, each delivered as a one-hour session, with a structure designed to keep the content practical and engaging. Each session included:
- A subject matter expert to provide credible insights and detail. Most sessions included external and internal specialists - thus accommodating the needs of multiple internal stakeholders to be involved in an efficient and timely way.
- Relevant, real-world examples that reflected the specific contexts of the organisations that audience members were Board members of.
- Interactive discussion, with a focus on scenario-based learning and peer-to-peer sharing.
3. Go-to knowledge base & toolkit
With audience members located worldwide and the membership changing regularly, scheduling live training for everyone was impractical.
Each live session was recorded, then edited down to about 45 minutes and made available on an e-learning system. This way, audience members could access the training when they needed it, turning it into an on-demand, repeatable resource. For further ongoing support, we collaborated with specialists to create downloadable checklists, and question lists that the audience could use in discussions with management teams.
Recognising the turnover within the teams and the constant flow of new investments, this information hub could be regularly updated, ensuring long-term relevance and continuity in training without significant ongoing investment.
Understanding the impact
Feedback on the training sessions has been consistently strong, indicating that participants find value in the program. Although hard to quantify, another sign of success is that participants are now discussing non-financial risks in new ways, suggesting a shift in awareness and perspective. Our client also:
- Reports that training participants feel confident and supported in their roles.
- Reports that board members are significantly more risk-aware.
Key takeaways
Our client’s investment bankers needed more than traditional training to tackle the complex risks and responsibilities they face. By creating a practical, engaging program tailored to their needs (and one that could be adapted worldwide), Rutherford HR empowered professionals with limited knowledge or training to navigate board dynamics, manage non-financial risks, and make more informed and effective decisions.
Our innovative approach created a resource network, complete with on-demand tools and peer-to-peer insights, that has since been adopted across multiple divisions within our client’s organisation.
Leave your high stakes in our hands
Are you facing similar challenges in equipping your team to manage high-stakes critical issues or gain new and critical knowledge? Discover how a tailored, audience-focused approach can transform your training and provide your team with the tools and confidence they need to thrive. Book a call to start a conversation about building solutions that work for your unique organisational needs.