FAQs regarding the changes to IoD membership in 2018
As I stated in my letter, during the past few months we have been reviewing various aspects of the IoD membership and have also looked at the key reasons why people join and stay as a member.
It has become clear that these primary reasons are to connect with other business leaders, to learn from them and build their networks, as well as to develop individual knowledge and competency through formal and in-formal learning opportunities.
We have therefore decided to focus our efforts more specifically in these areas and invest to grow these aspects of our membership offer, providing the maximum possible value for the majority of our membership.
Therefore, there are going to be 5 key changes in 2018 to membership.. The key changes to note are:
- Membership pricing will increase in-line with inflation for any renewals, re-joiners or new memberships from 2nd March
- The brand new IoD Digital Academy will be available to members from the beginning of February 2018
- Access to Regus lounges and the Regus Preferred Membership will cease as of February 28th.
- The Non-Exec directory will cease to exist as of February 28th
- A cap will be applied to Airport Lounge Usage. The cap will be 12 uses per calendar year.
Below are a selection of answers to some questions you may have about these changes but, should you have any other questions please do contact us on 020 7766 8866 from Monday to Friday 9am-5pm or email us at firstname.lastname@example.org
Q: Why are you increasing the 2018 membership fees?
A: We froze the membership fees from 2016 into 2017 but, with increasing costs and additional investment to ensure we continue to bring you the best possible experience, it has been necessary to apply a small increase (average 2.4%) to the membership fee for this year. We are determined to ensure we bring you the products and services that you should expect of us and so need to ensure we continue to invest in these important areas. This price increase is in line with inflation.
You can see the new membership fees at www.iod.com/membership-fees.
Q: What is the Digital Academy?
A: The Digital Academy is a brand new aspect to the membership proposition. It will be launching at the beginning of February 2018 and is included in the membership fee.
It will provide an online platform by desktop and mobile / tablet to access vast quantities of bitesize learning based upon our Director Competency Framework. This framework covers all aspects of knowledge, skills and mind-set that are required for excellent business leadership.
All active members (except first year 99 members and students) will have access to all of the learning that is being updated and increased on a weekly basis. It’s available on the move and at any time of the day or night. Simply log on at www.iod.com/academy with your usual IoD username and password.
We are sure that you’ll find this to be an invaluable tool on your journey as a business leader and we’ll be keen to hear your feedback.
Q: Why is the Regus benefit being removed?
A: Only 3.4% of members used the Regus offering during 2017 and, as we have discovered through extensive conversation with members, the over-whelming reason for members joining the IoD is to focus on developing themselves and their businesses through better connections, events and learning opportunities. Given this desire, and the resource required to sustain the Regus offer for a small percentage of the membership, the tough decision was made to end that service and invest in other areas of membership; aligned with the primary reason for people joining. Don’t forget though, that you still have access to 15 premises up and down the UK in most major cities.
You can see more details of the premises available at www.iod.com/premises.
Q: Will future room bookings still be honoured and the discount applied?
A: Yes. Any bookings made up until 28th February will have the discount applied and will be honoured, even if the booking is for a date after 28th February.
Q: Can I still access the City Hub at New Broad Street House and the Hub at Reading?
A: No. Regus Preferred membership cards will be cancelled and no longer valid as from 1st March. Members will not be able to access business lounges at New Broad Street House and Forbury Square. If a member has a separate agreement with Regus e.g. they have rented office space, then they will continue to have access as part of their direct agreement with them.
Q: Will alternative space be provided in these locations?
A: No. Once the Regus membership cards are cancelled, there
will be no space available to members at either New Broad Street House or
Forbury Square. However, we are looking
to source new premises in the City of London.
There will be a gap between the City Hub at New Broad Street closing and
a new premises becoming available. We will let you know about any new
facilities when an arrangement is finalised.
Q: Why are Airport Lounges being capped?
A: Only 0.45% of members have used the airport lounge service to a high level, which took up a far greater share of financial resource than deemed appropriate. For the vast majority of membership, 12 uses per year will more than cover their needs but will free up financial resource for investment in areas that will benefit a greater share of membership. For 2018, the cap will apply from 1st March (when the changes are applied) to 31st December.
THE NON-EXECUTIVE DIRECTORY
Q: Why is the Non-Executive Directory closing?
A: The Non-Executive Directory was launched in April 2012 and, whilst it has been running for over 5 years, take up amongst IoD members remains very low.
The Non-Executive recruitment market is a competitive one and, given the limited number of Non-Executive roles that were submitted to the Directory, together with the relatively small take up amongst our members, after due consideration we have made the tough decision to wind down the Directory and close it as of 28th February.
Corporate governance is more important than ever before and we wish to focus on helping those that wish to take up a Non-Exec position in the future develop their skills through the various professional development and networking opportunities we provide, leaving the recruitment and placement aspect to specialists in this area.
Why not take a look at our development opportunities and the many events we run to meet businesses looking for non-exec Directors? Visit www.iod.com/training for more information.
How the IoD can help support you in your quest for a Non-Executive role
- Course – The Role of the Non-Executive Director – provided by the IoD’s Professional Development Department. Email email@example.com or call 020 7766 2601
- The new Digital Academy will provide learning relevant to becoming a Non-Exec Director and building competence in the respective areas. Keep an eye open for this content when the Digital Academy is available from the beginning of February.
- CPD workshop – Practical Tips for Becoming a NED (visit www.iod.com/opencourses and click on ‘CPD Courses’ for up to date information). Email firstname.lastname@example.org or call 020 7766 2601
- Business Information Service - can provide a listing of recruitment agencies specialising in Non-Executive roles, remuneration data, research to help in your due diligence in preparation for your interview and a template letter of appointment. Email email@example.com or call 020 7451 3100
- Directors’ Advisory Service – our advisors can provide careers advice on how to go about looking for a Non-Executive role, review your CV and advise on career transition. They can also review your letter of appointment. Email firstname.lastname@example.org or call 020 7451 3188
- Telephone helplines – the legal helpline can provide advice on the legal implications of taking on a Non-Executive role, call 0870 241 3478, or the tax helpline on the tax implications of taking on a Non-Executive role, including IR35 legislation, call 0844 561 8131
- Online factsheets – browse our collection of resources & factsheets online