Iod west mids jan 15

West Midlands www.iod.com

January 2015

Director of the Year awards:

Nominate now as we search for our business stars IoD CPD courses return to region

Planning for growth

‘2015 promises to be an exciting year - one of change and success’

Getting the very best from our graduates Manufacturing a brighter future Local historian Carl Chinn to address Black Country dinner

Regional Chairman’s welcome

2015 is set to be an exciting year of growth and change

T

HE West Midlands closed 2014 on a generally upbeat note, with the promise of more economic growth and some exciting developments in 2015. The economic recovery certainly now feels firmly entrenched and the mood music for the year ahead is for more of the same. Job creation has risen, with several hundred thousand new positions created during ’14. It was particularly pleasing to see that this region was leading the way in new jobs.

Such good news is clearly music to the ears of the Government, and Prime Minister David Cameron was certainly in a positive frame of mind when I had the privilege of meeting him twice at No 10 Downing Street in November, in my role as the IoD West Midlands chairman. The senior business leaders sat round the table with him cannot have helped but be impressed by both his exceptional grasp of the business case and his desire to really get to grips with the issues affecting business growth. He took copious notes throughout and was thorough in his questioning as to what his Government could do to help business. I believe he took our comments seriously and we were left in no doubt that he would continue to listen to us through the IoD in 2015.

My fellow IoD board members and I pushed him on several areas, particularly on more support for exporters and those thinking of exporting for the first time. Such support has to be a priority for whichever party forms the Government from May, and I for one will be pressing for improved export credit guarantees and financial assistance for those companies looking to sell abroad, as well as more action from Government on tackling the skills shortage.

Prime Minister Cameron wasn’t my only high-profile meeting that month either, as I was invited to meet the Governor of the Bank of England, Mark Carney, at a select lunch event. As with the PM he was genuinely interested to hear what business leaders had to say about the state of the economy, and what financial levers we wanted him to move to improve the picture.

CONTACTS

I was impressed by his grasp of the brief. His comments early in 2014, saying interest rates would stay low for the forseeable future, had given many businesses the confidence they needed to make plans for growth. I am confident that rates will remain low in 2015 and that any future rises will be small, gradual and sustainable.

In many ways, the better economic news has been overshadowed by another big story from 2014, the increasing support for greater regional devolution. For this we have to thank our friends in Scotland: their referendum in September has lifted the lid on this issue, and the growing clamour for more powers to be devolved to cities and regions is showing no sign of stopping.

It’s something I support strongly. It has to be better that more decisions can be taken at a local level by people who understand the impact they will have on their communities.

Whitehall does not have all the answers, and what may be good for one region of the country may not be good for another.

The process of devolution could be said to have started with the introduction of the LEPs, but they had little or no financial muscle to flex and little power as a result.

However, with good people on board they showed what could be achieved if they worked in a collaborative framework.

The development of the i54 Business Park, now the home of the impressive Jaguar engine plant, shows this analysis perfectly. To ensure i54 became the plant’s home, Staffordshire Council worked with other local authorities and the LEP to put forward a unified and coherent case for i54...

Continued on page 4

Chairman: Jason Wouhra e: jason.iod@eastendfoods.com t: 0121 359 2199

The Institute of Directors West Midlands membership magazine is published on behalf of the IoD by:

Regional Director/Editor: John Phillips e: John.phillips@iod.com t: 0121 643 7801

Chamber Media Services, 4 West Park Road, Bramhall, Stockport, Cheshire SK7 3JX.

Head of Business Development: Sue Hurrell e: sue.hurrell@iod.com t: 0121 643 1868 Regional Administrator: Carly Clyne e: carly.clyne@iod.com t: 0121 643 7801

Advertising sales: Colin Regan t: 01925 292002 e: colinregan001@yahoo.co.uk Production enquiries: Rob Beswick, t: 0161 426 7957 e: rob@chambermediaservices.co.uk

IoD West Midlands: Eleven Brindleyplace, 2 Brunswick Square, Birmingham B1 2LP t: 0121 643 1868

Please note...

Although every effort is made to ensure the accuracy of material contained within this magazine, neither the IoD nor Chamber Media Services can accept any responsibility for omissions or inaccuracies in its editorial or advertising content.

The views expressed in this publication are not necessarily those of the IoD. The carriage of adverts in this publication does not constitute an endorsement of the products or services advertised.

All articles within this publication are copyright IoD West Midlands.

Editorial consent must be obtained before any are reproduced either in printed form or electronically.

Cover picture: Plotting future growth - and searching for our rising stars

IoD West Midlands January 2015 | 03

IoD News ‘We will spend 2015 trying to give you even more for your money - more events, more networking opportunities, more chances for director development...’

Continued from page 3 The result is a £500m-plus investment and hundreds of skilled and well-paid jobs – all won in the face of stiff competition from rivals within the UK as well as from overseas.

For devolution to work we have to rid ourselves of local rivalries. Black Country, Coventry, Birmingham, Worcestershire, all have to work together to ensure we attract such impressive investment in the future.

Moving away from broader economic and financial issues, I have some excellent news from the IoD. The West Midlands is going to start delivering the IoD Director Development courses again, after an absence of a few years.

The courses will be held in the new, and iconic, Birmingham Library, which will make a truly impressive home for them.

As members may recall I co-chaired the Library’s advisory committee, so it is wonderful that the strong links created then between the IoD and the library have paid off in this way.

Our regional membership is also growing, a sign of the increasing relevance of the IoD to directors as well as a reflection of the improved economic position as company budgets become a little freer. We will spend 2015 trying to give you even more for your money - more events, more networking opportunities, more chances for director development.

We will also use our place at the top table to make the business case to Government; the public services we all rely on and appreciate are paid for out of general taxation that depends on a successful economy.

So what negatives do I see? The first is that in the closing months of 2014, we saw evidence of some short-sighted thinking by a handful of the UK’s biggest companies in the way they treated their – smaller – suppliers. Big companies must never abuse their position by making supplying them too difficult for smaller businesses who can be so vulnerable to increased payment terms.

With size comes responsibility. If we are to encourage the economy to grow, larger companies should not be putting barriers in the way of smaller suppliers with onerous payment terms or aggressive demands.

The second concern is the General Election.

Businesses grow in times of certainty – as I pointed out before, the Governor of the Bank of England did a great job in inspiring confidence

04 | IoD West Midlands January 2015

among business leaders early in 2014, by publicly stating that interest rates were not going to rise any time soon. That certainty was the signal many companies needed to push the button on investment plans.

So do we have confidence in the result of the next election? No; as it stands at the moment there are so many possible outcomes it is difficult to predict the direction of future policy, with some options likely to alarm business.

The IoD is a strictly non-partisan organisation: we will work with whichever party is in power to create the best possible climate for business. But I am increasingly concerned

about the way the claims of Nigel Farage and the policies of UKIP appear to be escaping close scrutiny or direct challenge. It is the job of everyone in the business community to look at them closely and ask ourselves if UKIP will place insurmountable obstacles in our way as we try to build a better economy and ensure growth. If we believe it will, it is our job to voice our concerns and challenge them.

Finally, a Happy New Year to all our members: I hope this year is one that builds on the promise of the last and we start to reap the rewards of all our hard work.

West Midlands to return as host of IoD professional director qualifications Renowned Chartered Director programme to be delivered in region

I

oD West Midlands is delighted to announce that 2015 will see the return of the IoD’s prestigious Chartered Director programme to the region, with courses run out of Birmingham’s iconic new library.

Regional director John Phillips said he was delighted with the news, which would be a real shot-in-the-arm to the IoD’s regional offer and help the many local directors who were keen to improve their skill-set. “For far too long members in this region have had to travel to London, adding expense and inconvenience to the process of attaining the IoD’s prestigious professional qualifications.

“Professional development for directors is at the heart of what we do and in my opinion it has always been what we do best.

“It is vital that access to this qualification is made as simple and affordable as possible, and being able to deliver it on our doorstep should mean we see a large increase in our members taking the qualification.”

This year, IoD West Midlands will run the Certificate in Company Direction locally. This leads to the Diploma in Company Direction, and then on to the esteemed status of Chartered Director. Chartered Director is the only professional qualification for all directors that demands both knowledge and experience of how to make boards effective, and is a strong commitment to continuous professional development.

The Certificate in Company Direction, as the first step on the ladder to becoming a Chartered Director, provides independent evidence that the holder has all the necessary knowledge to operate efficiently at board level.

Our new venue for the courses is Birmingham Library on Broad Street

It consists of four modules/10 days of training to impart exactly the right amount of information and is ideal for working people who may be ‘time-poor’.

As such these are professional courses pitched at MBA level, designed for busy directors and, importantly, anyone aspiring to become a director.

The IoD courses has also proved to be a great route for existing directors who wish to take up non-executive positions on other boards or trusts. The Certificate can be taken as a stand-alone component for directors who want to tighten up on their knowledge without going on to complete the full Chartered programme.

The status of Chartered Director will always add massively to the standing of any board.

John said the first tranche of courses was already in place: “We now have dates (see below) for the first Certificate of Company Direction courses. Prices and more dates will be issued to all members shortly and the key modules will be as follows: n Role of the Company Director and the Board (two days) n Finance for the Non-Financial Director (three days) n Director’s Role in Strategy and Marketing (three days) n Director’s Role in Leading the Organisation (two days) “I hope these give members exactly the level of training and course subject they need.”

Regional CPD taster sessions In addition, during 2015 IoD West Midlands will be running a suite of flexible taster sessions

for members who are considering this programme and those who are simply hungry for knowledge will be most welcome.

The average duration will be for two hours at a cost of just £50 + VAT and we intend to cover a range of popular topics from across the IoD professional development courses and qualifications.

These short courses will count for individual CPD records and certificates will be issued.

We intend to run four sessions in 2015 and again full details will be issued to member shortly: The intended subjects will be: n Strategic Decision Making n How to be authentic leader n How to become a digitally-literate director n How to assess the financial health of your business?

Want to know more?

If you would like to know more about how IoD professional development courses can support you, your board and business, contact John or Sue at the regional office by phone of email.

John.Phillips@iod.com Sue.Hurrell@iod.com or call 0121 643 7801 For more information about the courses see www.iod.com/developing/ courses/list-of-courses/role-of-thedirector-and-the-board

First courses

Role of the Director and the Board - June 1-2 Finance for Non-Financial Directors - July 1-3 Director’s role in Strategy and Marketing – September 1-3 Director’s Role in Leading the Organisation – Sept 14-15 Crammer Day – October 19

IoD West Midlands January 2015 | 05

News

It’s time to shout about our successes IoD backs West Midlands companies to go for Queen’s Awards

I

oD has recently learned that the West Midlands business community produces a lower level of nominations for the Queen’s Awards. Subsequently, there are fewer honours for both companies and individuals made in our region than any other part of the UK. Regional director John Phillips said: “I know this is not because our companies perform at a lower level to those in the rest of the country, in fact the opposite is true, nor indeed that fewer people are undertaking valuable community roles.

“Over many years of running our own IoD Director of the Year awards I have never stopped being amazed by the sheer hard work, passion and enterprise which is displayed by many of our members on a daily basis.

“It is possibly just a simple issue of awareness and the fact that people are so focused on the day-to-day pressures of running their companies and their lives that they don’t like to shout about our successes.

“But we should be proud to show the outside world and ourselves what a vibrant region we are. It is also important to ensure we recognise those people who put so much back into the community by helping others.”

In 2014 162 Business Awards were shared by 160 businesses in the UK. Of these, only 11 came from the West Midlands: six for international trade, three for innovation and two Queen’s Awards for Enterprise promotion. So the task ahead is to lift the number of nominations going into the system. Have you ever considered putting yourself forward for a Queen’s Award for the work your business does?

Many of you will now be thinking of entering the IoD West Midlands Director of the Year Awards (more details, see pg 8), which could be a forerunner to the UK’s ultimate business award, The Queen’s Awards for Enterprise and Innovation. Much of the information would be inter-changeable, with applications for the Queen’s Awards being open from April 2015.

It goes without saying that the prestige of winning such an award in external marketing terms is immense, but the boost and impact within a business would be massive, too.

What kind of success are the organisers looking for?

06 | IoD West Midlands January 2015

Traditionally, key drivers for success in these awards would be for success in exporting, for innovation and leadership or for following a programme of sustainability and corporate social responsibility.

Who can enter for a Queen’s Award? Any UK-based business unit with two or more full-time (or equivalent) UK employees.

• Established businesses with a minimum of 2 or 3 years’ trading figures (depending on Award category) • Companies with evidence of substantial, continuous growth & commercial success over the entry period • Businesses from all sectors and of all sizes • Nominations of individuals committed to the promotion of enterprise skills/attitudes in others .

The West Midlands Lieutenancy is actively involved in identifying any potential honours in this region, and we have strong links with the Lord Lieutenant and Deputy Lieutenants of our region. Former IoD West Midlands Chairman, Richard Boot, himself a Deputy Lieutenant, has backed our call, saying it is time to stop hiding our light under a bushel. “The West Midlands is at the forefront of so many exciting developments and has an enormous number of people deserving of official and state honours. We need to make sure all this innovation, enterprise and community service gets fully recognised.”

Winning smile: Paul Sabapathy CBE, the current Lord Lieutenant for the West Midlands, makes a presentation to Nick Price, a project engineer who received the award on behalf of Ishida Europe, based in Birmingham

Want to know more?

More information and helpful guidance is available from: www.wmlieutenancy.org www.gov.uk/queens-awardsfor-enterprise

www.gov.uk/honours. www.queensawards.org.uk.

Or call John Phillips at the IoD regional office on 0121 643 7801 for advice and information

Tax and financial advice from

Consuls offer a helping hand across the region IoD member Nigel Dace has been elected to serve as president of the Birmingham Consular Association.

Here he talks about the work of the Consuls based in our region The British Consular Association (BCA) is made up of Consuls, each of whom is the appointed diplomatic representative of the country they represent. Each Consul is based at a Consulate in the Midlands, though some represent an area which extends beyond the Midlands.

Currently the BCA represents 25 countries across Europe, Asia and Africa.

Consuls, once they have been appointed by the relevant country - by its Ministry for Foreign Affairs, most commonly – are then required to accredited by the Foreign & Commonwealth Office in London.

Consuls tend to be appointed either: • As career diplomats for the country they represent, or • because they are nationals of the country they represent and have a close personal connection with that country and meet other nationals of that country frequently (they are most likely to be honorary consuls); or • A country may choose to appoint a British national based in Birmingham and with good communications with that country (these again are more likely to be honorary consuls).

This is my role: I am the Consul for Iceland. I have excellent relations with the country, mainly through the Embassy of Iceland in London but also through the Ministry of Foreign Affairs in Iceland. I recently attended a conference in Reykjavik which saw some 130 Consuls of Iceland gather from all around the world.

The principal duties of a consul are the same, no matter which country you represent: to look after that country and its nationals’ interests. Enquiries made of Consuls can therefore be very varied.

They play a role in building ties between the country they represent and the country in which they reside. BCA members value their link through the BCA with authorities and other organisations in the Birmingham area.

See www.birminghamconsular association. org.uk for more information.

Stamp duty reforms: How could they affect you?

G

eorge Osborne’s Autumn Statement contained a number of surprises – one being a cut in stamp duty. Stamp duty has long been controversial, largely for its ‘slab structure’ which placed homes into tax bands according to the cost of the property.

However, this change could see a surge in house sales over the coming year. Often the subject of lively political debate, this news has been welcomed by buyers, sellers and estate agents nationwide.

What is stamp duty?

HM Revenue & Customs gives the following definition: “Stamp Duty Land Tax (SDLT) is generally payable on the purchase or transfer of property or land in the UK where the amount given is above a certain threshold.

Most UK land and property transactions must be notified to HM Revenue & Customs (HMRC) on a Stamp Duty Land Tax return within a certain time limit – even if no tax is due.” (HMRC Website, 2014) Every transaction of property or land must pay SDLT. These changes are important for you to recognise and comprehend, especially if you are considering purchasing a property or piece of land.

Here’s what they mean in practice.

What used to happen?

Under the previous system, stamp duty was calculated as a percentage of the whole property price – rising at the following values: • 1% for properties bought for more than £125,000 • 3% for those more than £250,000 • 4% at over £500,000 • 5% at over £1m • 7% at over £2m For example, £2,500 would be levied in stamp duty when a house was bought for £250,000. However, the amount would triple if the buyer were to pay just a penny more than that for a property.

What has changed?

The new system, which came into effect on 4 December 2014, has different bands that

trigger different amounts of stamp duty. The bands are as follows: • No stamp duty paid on the first £125,000 of a property • 2% paid on the portion up to £250,000 • 5% paid for the portion up to £925,000 • 10% paid on the portion up to £1.5m • 12% paid on anything above that For example, for a property bought for £250,000, 2% of £125,000 will be due (the first £125,000 of the price having incurred no stamp duty). In other words, £2,500 will be levied in stamp duty. A property bought for £2 million will incur a cost of £93,750.

Who will benefit?

These new bands work in a similar way to income tax and will be most beneficial for those buying low- to mid-value properties.

However, for those who are looking to purchase a high value property or piece of land, stamp duty is likely to be far greater than previous stamp duty bands. It is therefore essential that this fact is taken into account when making a transaction on a property or land.

Looking for professional advice?

Purchasing a property is exciting, yet also complex, with a plethora of factors which need to be considered. There are a range of costs and financial hurdles which you may be faced with. Stamp duty is one of them and depending on your financial situation the significance may vary.

We believe it is important to seek financial advice to help you with each stage of the process. If you are thinking about buying a property or piece of land and would like to speak to us about stamp duty, how it may affect you and your financial state, or regarding any other financial hurdle you may be faced with, please do not hesitate to get in touch with us on 01902 570570.

• Torquil Clark is authorised and regulated by the Financial Conduct Authority. The Financial Conduct Authority does not regulate taxation advice.

“These new bands will be most beneficial for those buying low- to mid-value properties... However, those looking to purchase a high value property, stamp duty is likely to be far greater than previously” IoD West Midlands January 2015 | 07

Director of the Year Awards

Who’s got the golden touch for 2015?

Search is on for the IoD West Midlands Director of the Year

N

ew year, new start.... and the perfect time to assess which directors contributed most to the West Midlands economy over the past 12 months. It’s time for the annual IoD West Midlands Director of the Year Awards.

As in previous years, these prestigious awards are looking for those business leaders who’ve made the biggest impact on either their own organisations or the wider business world during 2014. You can enter yourself or nominate a fellow director who has put up a strong case for honours.

To nominate, go to www.iod.com, click on the West Midlands region in the Local Network section and download the awards application form. Alternatively, contact John Phillips, IoD regional director, on 0121 643 7801 / 07703 355891. Entries must be in by Friday, February 27.

Every year these awards turn a well-deserved spotlight on those men and women who make the West Midlands the heart of the UK economy. Applicants range from high-profile business leaders of the region’s biggest organisations, people leading start-ups and emerging businesses to new heights, entrepreneurial young directors, owners of family businesses and those leading the way in CSR. So get thinking: do you know a director or other business leader who deserves the applause of his or her peers? Someone who has developed a new strategy that is delivering results, has transformed their workforce’s morale, raised productivity or simply shown exceptional leadership in what has been a very challenging economic time?

If so, nominate them for the IoD West Midlands Director of the Year Awards.

The awards will be presented on Wednesday, June 3 at a special gala breakfast event. This is a repeat of the very successful event we held at Warwickshire County Cricket Club previously, and we’re delighted to announce that last year’s host, former TV presenter and now director of Fleet Street Consulting Arti Halai, will be our compere again.

08 | IoD West Midlands January 2015

Deadline for entries: February 27

We will be looking for nominations in the following categories: n Large category (over 500 employees) n SME n Family Business n Not for Profit n Corporate Social Responsibility n Young Director (under 42) In addition, there will be an overall Director of the Year award, which goes to the nominee who has shone brightest within the business community.

Our main sponsor is once again the University of Wolverhampton, which actively supports our drive to reward and recognise directorial excellence and good governance, and

celebrates business success.

In addition, the awards are also being supported by Sabre, the body that supports Britain’s military reservists and their employers, and Chiltern Railways.

The six awards categories link in with the national IoD awards, and our winners will be nominated to the national finals, which take place in the autumn of 2014.

If you have any queries about your entry, we’ve placed some FAQs on the facing page, or ring the regional office.

Last year the region’s overall Director of the Year was Rob Halliday-Stein, 37, who founded BullionByPost in 2008 with an initial investment of just £10,000 after he spotted a gap

Join us at our awards

ceremony: A Champagne breakfast event at Warwickshire CCC, Edgbaston, Wednesday,

June 3

Event sponsor

Category sponsor

Fall in!

Another chance to learn the secrets of

Sandhurst in just 48 hours Event: Military leadership training with the Army Date: July 3-4 Cost: £195 + VAT

I in the market for supplying gold and silver bars and coins direct to the public. The company’s turnover now exceeds £120million.

IoD West Midlands’ chairman Jason Wouhra, himself a previous nominee in the awards and who won the Family Business Award in 2010, said that Rob’s success was typical of the many business success stories that are alive in this region. “I am astounded by the number of innovative and enterprising small businesses that are started-up each year in the West Midlands. We applaud our biggest employers, such as Jaguar Land Rover, but Rob’s win last year shone a deserving spotlight on those who dare to build their own business from the ground up.

“His win also shows that our awards are open to all businesses. Some of the region’s brightest businesses are running SMEs that don’t usually come to the public’s attention, and we’re delighted to change that and shine a spotlight on the people running them.”

Do you know someone who matches those qualities?

If so, start thinking about your nomination – and make a date in your diary for the awards breakfast itself in June!

oD West Midlands will be running another director-level leadership event in conjunction with the British Army this summer, after the tremendous success of a similar event last year.

As with the previous event, it is being organised by Young IoD but all age groups are warmly welcomed. It will give you a flavour of the leadership and management techniques employed by the Army – a real chance to experience Sandhurst military leadership training in just 48 hours.

The event is ideal for both individuals who want to add a new dimension to their own leadership and to companies who might want to make a block booking for their own senior staff ’s professional development.

The event will take place from FridaySaturday, 3rd and 4th July and will be delivered by a senior officer from the British Army. The leadership training will be based on the very best traditions of the Sandhurst model.

To ensure all delegates get the most out of the event, prior to the course delegates will undergo behavioural profiling and receive a personal report.

The weekend will be based on practical tasks, working mostly outdoors in small teams – but all the tasks will be more about

intellect as opposed to physical strength or fitness, and no one will be asked to do anything they can’t physically manage.

The event includes overnight accommodation in a basic but comfortable barracks, with dinner in the Officer’s Mess followed by an after-dinner speech from a senior officer.

IoD West Midlands regional director John Phillips commented: “I am delighted to be putting this event on again in 2015.

Last year’s was one of the best things we did in 2014 and we are determined to repeat this annually.

“A typical comment from last year’s delegates was we did not really know quite what to expect and were a bit nervous at first, but it turned out to be great fun and one of the best training events we have ever experienced!”

John stressed that it was not an ‘assault course’ -style event. “While we will be outside for most of the time, tasks will be more about management, logistics and problem-solving rather than brute strength. It really is a great event for everyone.”

As with last year, the cost is heavily subsidised through our relationship with Sabre, the army’s reservist organisation, at just £195 + VAT. Early booking is recommended for this unique event.

Places are limited and expected to be taken up quickly. To book, please call the IoD West Midlands office on 0121 643 7801 or email carly.clyne@iod.com

Delegates and course leaders during the 2014 event

Nominate now: go to www.iod.com/westmidlands to download an application form, call 0121 643 7801 for more details.

Entries must be in by February 27 IoD West Midlands January 2015 | 09

Business diversity & Women as Leaders

Diversity is key to prosperity IoD to lead way in building balanced boardrooms

D

IVERSITY in the boardroom is crucial to the future prosperity of the West Midlands, for individual companies and the region as a whole, in the global market.

That is the firm belief of IoD West Midlands, which has put inclusivity at boardroom level high on the agenda in these challenging times.

The IoD has always sought to support and strengthen businesses, large and small with the motto of Enterprise with Integrity. But in the 21st century it is also a question of Evolution with Innovation.

The IoD knows it and its members must adapt to the ever-evolving community of which they are part. Central to that evolution is the boardroom and the West Midlands IoD are committed to ensuring that boardrooms, just like our wider community, comprise people of every sex, creed, ethnic origin and age-group.

There is only one component which a successful director cannot be without, insists IoD West Midlands regional director John Phillips: Talent.

“We do not back quotas,” he says. “To say that a board must have directors who are white, black, male, female, etc, is ridiculous. It is a question of starting with a skills audit, then deciding which talents are needed to run that company successfully, looking at the open market and recruiting the best people.

“Our region must be competitive and to do that we must have the very best person for the job in each key position. Traditionally, boardrooms are perceived as populated by

IoD West Midlands ‘Women as Leaders’ group held a networking and smart driving event at South & City Birmingham College. Pictured above in a Mercedes SLK-Class is Jackie Casey, MD of Success Train and a member of the Women as Leaders’ committee. Pictured, left to right, are Lynn Hood, The Belfry; Fay Goodman, DriveSafe; Pam Wilde, SSP; Sue Hurrell, IoD West Midlands; Pat Murphy-Wright, Ladies for Breast Cancer; Amy Meyers, South & City Birmingham College; Jacalyn Evans, Parkwood Consultancy; Fiona Newby, Birmingham Law Society; Julia Barney and Georgina Taylor, Mercedes-Benz.

Members enjoyed an interactive presentation on personal and driving safety by Fay Goodman, founder of DriveSafe & StaySafe, with some handy martial art techniques and tips to empower drivers to feel confident and safe. Georgina Taylor, business development manager, Mercedes-Benz Wolverhampton kindly donated a prize of an SLK for a weekend, which was won by Fiona Newby. She also offered some information on smart driving for better economy, and highlighted the tax benefits the latest range offered through its low CO2 emissions.

Georgina can be contacted at get@draytongroup.co.uk

white males over the age of 50. We are very keen to change that.”

The IoD West Midlands wants the region’s boardrooms to contain more women, more

people of different ethnic origins and a balance of all ages.

West Midlands chairman Dr Jason Wouhra says that without greater diversity in

Women Leaders – More than a numbers game

by Hilarie Owen While more women graduate and do well competing for men over salaries early in their careers, there is huge evidence that their salaries do not keep up with male colleagues, and many of these women leave the corporate world as they progress.

Putting the odd woman onto the board as a non-executive director is playing a game of numbers and ignoring the real issues. I want to provide some new research that I have recently been involved in on how women feel about themselves as leaders. It

10 | IoD West Midlands January 2015

may explain why fewer women put themselves forward. For this I’d like to introduce the concept of ‘self- efficacy’ and its relationship to leadership.

Leadership efficacy refers to feeling confident in a leadership situation or in one’s general ability to lead. As a leader develops greater levels of self-efficacy the motivation to complete the specific task also increases. It has been shown through different studies recently that leader self-efficacy beliefs contribute to leadership performance. In addition, there is a positive

relationship between leadership self-efficacy and the willingness to take on a leadership role. An individual with low leadership self-efficacy will avoid such experiences.

In addition, even with the same number of leadership experiences, we know a female will have lower leadership self-efficacy than her male counterpart and this seems to be down to the subjective interpretation of their experiences. Men tend to interpret their performances in a more efficacyenhancing manner, for example they interpret success as evidence of their ability,

Business diversity & Women as Leaders

Centre of photo, Miles Northwood, community fundraiser with Guide Dog Benson and Sue Hurrell, IoD West Midlands, with members of IoD Women As Leaders’ group and Guide Dogs’ staff boardrooms, Britain will lag behind in the global market. “We must have a range of skills to enable us to connect culturally with markets around the world. The more diverse skills there are inside a boardroom, the more successful that company will be. The reality is that if we don’t change, we will be less competitive.

“At the IoD we are doing all we can to bring about that change with professional development courses for members and mentoring for young people to help them on the employment ladder.”

The recently formed West Midlands branch of Women as Leaders has quickly become a valuable networking opportunity and source of support and advice for women members.

“The Women as Leaders meetings are intended to be enjoyable and, to a degree, informal,” said IoD West Midlands head of regional development Sue Hurrell, the group’s founder. “Above all they are about helping women to get together to discuss issues they face in business and provider an opportunity to support each other by sharing experiences.

“The IoD does a lot of work which can benefit women and Women as Leaders is helping raise awareness of the support that exists for them.”

Across the board, diversity is the key, insists chairman Wouhra. “We are well beyond the time when boards should be better balanced,” he said.

“Directors should be drawn from the talent pool of the very brightest - of all sexes, colours and creeds. If you have the right skills and attitude the job is yours, regardless of your personal make-up.”

while women tend to attribute their successful performances in a way that constrains efficacy growth. Females are more likely to put achievement down to the help of others, their team or luck rather than their own capabilities – what is sometimes called the Imposter Syndrome.

As little girls we are told not to show off and those messages tend to stick.

Research from the University of California explored gender and self -efficacy and found that negative stereotypes (such as being called bossy) undermined the

T

he IoD’s Women as Leaders group hit the ground running with a great launch event at the Guide Dogs for the Blind National Breeding Centre at Bishop’s Tachbrook, Leamington Spa. The group is designed to support members, address issues and challenges facing women in the boardroom and provide greater opportunities to network.

Future meetings are planned with those serious objectives in mind, but also with a fun element.

The inaugural gathering, organised by IoD West Midlands head of business development Sue Hurrell, hit the spot perfectly as members toured the Guide Dog Breeding Centre and were introduced to highly-skilled human beings and canines alike!

Resh Plaha, director of Leamington Spa-based Crystal Quality, said the event was a great launch to a group which will be a valuable new source of help and support to women at boardroom level. “It was great to meet interesting, likeminded business women,” said Resh. “The Guide Dog Centre, management and, of course, the adorable dogs were just amazing.”

“Thanks to Sue for putting this event

individual’s assessment of their abilities and resulted in decreased performance that can be self-threatening. If persistent stereotype threat occurs, individuals may disengage from that domain and this may be why we hear so many girls and women say they are not a leader and display ‘disidentification’ with the role.

At present we appear to recognise women’s rights but ignore women’s strengths. Is this important? The single ‘hero’ leader no longer works in a world where the challenges are so complex and

on. It is great to see the IoD taking this lead.”

The host venue also got plenty out of the visit, said Guide Dogs area manager Colin Vince. “It was a terrific opportunity to share information about Guide Dogs’ life-changing work with influential business leaders in the community and raise the profile of our work.

“We are always happy to welcome visitors on tours, hire out training rooms and host business events at the National Breeding Centre in Bishop’s Tachbrook, just off the M40.” The National Breeding Centre can be contacted on 0845 372 7432 It was a great opening to the series, said Janette Rawlinson of Just Real Solutions and new chair of the group. “We want Women as Leaders to be enjoyable and, to a degree, informal. They are about helping women get together to discuss issues they face and provide an opportunity to support to share experiences.

“The IoD does a lot of work which can benefit women and this can help us raise awareness of what support there is for them.

“We are very grateful to the Guide Dogs National Breeding Centre for being such wonderful hosts for the first meeting.”

globally volatile.

The strength of a leader today is not so much the power they wield as how they make others around them feel. If people feel valued, if they see an authentic leader, if they have meaning and purpose in their work the outcome is good for all including business growth, motivation and productivity.

This is more akin to how women lead and we should use this strength and build leadership self –efficacy to ensure we stand alongside male colleagues for the top jobs.

IoD West Midlands January 2015 | 11

IoD Events reports

IoD challenges business leaders to get involved as election offers unique chance to shape future IoD Coventry and Warwickshire: Future economic and policy trends IoD deputy director of policy Jimmy McLoughlin has challenged business leaders to seize a unique chance to shape the thinking of politicians in the run-up to the general election.

With the UK’s political landscape in flux and the composition of the next Government impossible to predict, the current situation was a major opportunity for the business community, McLoughlin told a meeting of the IoD in Warwick. The 2015 election is looming in unprecedented circumstances with politicians and voters alike knowing exactly when it will be.

And as manifesto plans advance and politicians prepare to start campaigning in earnest, it is vital that directors make their views count, insisted McLoughlin. This, he warned, is no time to sit on the side-lines.

“I would strongly urge IoD members to take

the chance over the coming weeks and months to talk directly to their local MPs and tell them about the concerns and challenges facing them,” McLoughlin said. “It is no good complaining later on that things have not gone our way if we have not had our say when we had the chance.

Let’s do all that we can to make our voices heard.

“We are in a unique situation coming to the end of the first-ever fixed-term parliament.

Usually it is just a matter for the prime minister to call an election when he wants but this time everyone knows when it will be and I am sure that, come January, politicians of all parties will race out of the campaigning blocks.

“So let’s take this chance to make ourselves heard. Talk to your MP, whichever party they belong to. “Our job at the IoD, as a body, is to get out there and explain our position to politicians and we will be doing that and it would be great if every IoD member did the same individually.”

Jimmy McLoughlin With the country’s political picture finelybalanced and the two big parties troubled by the rise of UKIP, the hunt for every last vote as election day approaches is likely to be even more urgent and frenetic than ever.

That is a situation the IoD is eager to exploit as it promotes a strategy based on six key areas: technology, taxation, infrastructure, skills, Europe and corporate governance.

“The only certainty is that, at this moment, it’s all to play for – and that applies to the voters as well as the politicians,” said McLoughlin.

“There are a lot of important conversations to be had between now and May and the more IoD voices involved in those conversations the better.”

Fitness coach calls for long-term health plan Young IoD evening with Darryl Canham, health and fitness coach IoD Member Darryl Canham had some tough words for members of Young IoD at their recent networking event. Darryl, a health and fitness consultant based in the Jewellery Quarter in Birmingham, specialises in helping company directors to respect the importance of good diet, exercise and appropriate rest, and he warned that too many business high-flyers were failing to grasp the importance of looking after themselves properly.

He warned against the stresses of modern executive life and the temptation to grab convenience foods to save time. He said: “It doesn’t matter how busy you are, everyone needs to find time for a proper balanced diet, avoiding excessive carbohydrates and including plenty of water – not endless tea and coffee.”

Unsurprisingly, exercise is key and needs to be part of a planned regular daily routine, Darryl said. He accepted that some people found exercising a chore, but he reminded them that it is so much easier if you can find a fun activity and perhaps something that can be

12 | IoD West Midlands January 2015

shared with a friend or colleague.

“Additionally it’s worth taking advantage of the many technical monitoring devices now available to measure performance.,” he added.

Darryl told the predominantly younger audience that their age was to their advantage.

The young can make a life-long commitment with the potential to reap massive benefits.

He pointed out the irony that the directors he

was addressing were happy to create and follow long-term strategic plans for their business but not put something similar in place for their health and fitness.

“As leaders you set an example and create a similar culture for your teams to follow.”

IoD regional director John Phillips said: “Although I was probably the oldest person in the room this was an excellent presentation and I would advise our members to take professional advice on this important area in the same way we do for all other aspects of performance improvement.

“Darryl is a true expert in his field and would be delighted to advise you on a personal or company-wide basis. Remember, it’s never too late to make a New Year’s Resolution.

For further information contact: e: darryl@canhamconsultancy.com M: 07966 383735

“As leaders you set an example and create a similar culture for your teams to follow... do that with health”

Breakfast at Higgs & Sons: Conversational Coaching with Richard Bisiker

It’s good to talk – and to listen The IoD event with Richard Bisiker on ‘Conversational coaching’ was a real eye - and ear - opener, says Craig Holden

I

n my unofficial role as roving reporter for IoD West Midlands, I really enjoy attending and reporting on some of the excellent events that the regional office runs for its members. So I’m delighted to say that the presentation by Richard Bisiker of Personal Summits, on Conversational Coaching was another superb event. Hosted at their Brierley Hill offices by Higgs and Sons Solicitors, it attracted nearly 30 directors, all of whom learned a lot from Richard.

As a business development coach and trainer with over 20 years experience, Richard trains and coaches directors and managers from a wide range of industries and professions to help them improve their business performance, especially when they feel they have reached a point in their career when it is becoming increasingly difficult to move ahead.

As Richard said, coaching is everywhere in professional sport nowadays, so why should that not be more the case in business? After all, there are plenty of solicitors, accountants marketing professionals, surveyors, manufacturing specialists, etc, around who are all technically very good at what they do, who at some stage might need some form of business coaching to help them get to the next stage of growth with their businesses, when working harder or longer doesn’t actually achieve more.

Business coaching covers many areas,

IoD West Midland

s

typically starting off with a process which decides what type of coaching is needed and the areas that needs to be coached, and one of those areas is conversational coaching.

Everything we do requires some form of communication at some stage – to fellow directors, management and staff, and this is where the focus of Richard’s presentation, conversational coaching, comes in.

So what is conversational coaching? Richard explained it clearly and concisely. As directors, we all have responsibility, he said, for the meaning of what we want to communicate to our colleagues. If people do not understand what we say then how can we expect them to act and implement things in the way we want them to?

In fact, it’s our fault in communicating poorly in the first place, and it’s up to us to change, which is where Richard‘s ‘conversational coaching’ comes in.

In fact, it’s more than just conversational. We all find ourselves in positions every day where we need to communicate effectively. It could be a new business presentation, a formal business review, a board meeting or perhaps even a fairly informal social event. In other words, we are all on parade, to some degree, all of the time, so we

The IoD West Midlands office receives many requests from members keen to find new positions, from businesses looking for experienced non-executive directors to join their board, or simply organisations hoping to source new products and services. From this issue, we will publish a selection of them, with contacts and other details.

foundry coke. Our client is a Swiss-based company specialising in sourcing quality and value-for-money foundry coke.

There are quite a few foundries in West Midlands that use foundry coke in their production processes. Stratos is interested in learning customer requirements for foundry coke and its supply, including preferred technical parameters, the required way of supply, frequency and approximate volumes, etc.

If you are willing to help Stratos with the assessment of the business potential for foundry coke in the region, please contact Sue Hurrell, Head of Business Development, IoD West Midlands on 0121 643 1868.

Name: Igor Richter Contact: via IoD West Midlands Request: Foundry Coke Study Stratos Consulting has been approached regarding a UK Go-to market study for

Name: Balwinder Dhanoa Contact: Bal@progresscare.co.uk Request: Social housing in the Midlands Progress Care works closely with social housing developers based in the Midlands.

Notiyocuefinbd thoeaperopdle, Helping rvices the products and se s ne your business ed

need to be as effective as we can be in what we say and how we say it, as well as being good at listening, fully present and focused at all times.

And it’s not just about the words we use, but how we say them. Over time, conversational coaching will help us learn more about the importance of the words we use, the way we say them, the tone of our voice and our non-verbal behaviour (facial expressions and body posture, for example) in getting our point across effectively.

It also helps us understand what ‘the other person’ is like and how we can adapt the way we say things to communicate in a way which is best for our listener.

Richard packed a great deal in to his hour of presenting plus questions, but all he had to say made perfect sense to me and the rest of the audience. If you can’t get your message across effectively then it won’t be listened to properly and you are less likely to get the outcome you want. By learning how to speak and be heard, and influencing others to do the same, we can begin to get our message across more effectively and in return receive high-quality actions from others. n For more information on conversational coaching, Richard can be contacted on: info@personalsummits.com n Craig Holden is an IoD member and Managing Director of C H Marketing. He can be contacted on craig@c-h-m.co.uk

The company would like to work in partnership with housing associations to provide home care packages to vulnerable adults living in the community.

Name: Candy Yu, Yuan Ltd Contact: candy@yuan.ltd.uk ; 07971 868686 Request: Import/export links to China Candy Yu has been importing and exporting to China for over 10 years. Her business is located in China and she is looking to establish links with businesses in the UK. She has decades of business experience in China and can guide you through the processes and regulations.

In addition, she is also seeking children’s books to sell into China, suitable for 3-14 year-olds.

If you can help any of these members/ businesses, please get in touch

IoD West Midlands January 2015 | 13

IoD West Midlands Events Diary

The art of lies:

the psychology and science behind it and how to detect it The psychology, art and science of detecting lies and deceit Date: Tuesday, January 27 Time: 07:30-09:00 Venue: 3 Waterfront Business Park,

Brierley Hill, DY5 1LX Cost: Free of charge Lying and deception costs businesses millions of pounds a year. Leaders and managers are often placed in situations where spotting lies

and deceit is important, for example, in interviews, negotiations and in sale situations.

This talk uses the latest research from the behavioural and psychological sciences to explore the question: is it possible to spot lies?

Dr Mike Drayton uses video clips, examples from literature and audience participation to inform, inspire and entertain.

Dr Drayton is an organisational development consultant, a clinical psychologist and an expert in negotiation. He is also a graduate of the

The Role of the Director Masterclass Date: Tuesday, February 10 Time: 08:30 – 11:00 Venue: SGH Martineau, 1 Colmore Sq,

Birmingham, B4 6AA Cost: Members: £50 + VAT

Non-mems £70 + VAT

14 | IoD West Midlands January 2015

One hour

The historic Birmingham magistrates Court, which can trace its roots back to 1327

Directors: Know the role you play

This new event offers you an overview of the key duties, responsibilities and liabilities of directors and the importance of corporate governance in establishing good practice in the board room.

This event is especially useful to anyone interested in taking the IoD Certificate in Direction programme and for newly appointed directors on a board.

We have two speakers. Leading the seminar will be David Oxtoby, former programme director for IoD West Midlands Professional Development and now director at SynthesisNetwork Ltd. David will provide an overview of key duties, roles and legal responsibilities of directors including corporate governance for boards.

He will be joined by Neil Davies, who will speak about director disqualification and what happens when you don’t meet your legal responsibilities. A Q&A session will round up this seminar.

To book: online at http://www.iod. com/WMidlandsevents or contact Carly.clyne@iod.com

Oxford Programme on Negotiation (Säid Business School, University of Oxford).

The talk will be fun, interactive, effective and engaging. All the material used is based on sound scientific research that has been published in peer-reviewed academic journals.

To book: online at www.iod. com/WMidlandsevents or contact carly.clyne@iod.com

Take me to court!

Tour of Birmingham Magistrates Court Date: Thursday, February 5 Time: 07:30 – 09:00 Venue: Victoria Law Courts,

Birmingham, B4 6QA Cost: Free of charge Join us for an early morning breakfast, followed by an exclusive guided tour of Birmingham Victoria Law Courts, one of Birmingham’s finest Victorian buildings, from Richard Trengrouse JP, Chairman of the Birmingham and Solihull Bench.

The magistracy was founded in 1327, during the reign of Edward III, and is one of the oldest

voluntary service institutions in England and Wales. Today, magistrates deal with around 95 per cent of all criminal cases. Over 450 magistrates serve on the Birmingham and Solihull Bench and all give their time voluntarily to carry out this important role.

The event will give you the opportunity to understand and ask questions about the importance employers play when they support members of their staff in their role as magistrates.

To book: online at http://www.iod.com/ WMidlandsevents or contact Carly.clyne@iod.com

IoD West Midlands Events Diary

Environment at top of business agenda Environmental Conference Date: Wednesday, February 25 Time: 08.30-11am Venue: Wolverhampton University,

Telford Campus TF2 9NT Cost: Members, Free of charge

Non-members, £10 + VAT IoD West Midlands is joining forces with the Business Environmental Support Scheme for Telford (BESST) to host the network’s first breakfast session of 2015, in conjunction with Metnet (Marches Environmental Technologies Network).

The session will welcome expert speakers from a range of industries who will provide advice on how businesses can improve their environmental performance, while boosting their competitiveness and making financial savings.

The event will take place on 25th February at the University of Wolverhampton’s Telford campus between 8am and 11am, and will welcome Amy Fetzer, sustainability specialist and author of Climb the Green Ladder, as the keynote speaker, who will present on corporate sustainability.

IoD regional director John Phillips commented: “This is an increasingly important area for many of our members. Businesses must improve their environmental performance to ensure they comply with current and forthcoming legislation, and it is also important we all pay attention to the growth of sustainable energy.

“There is a real danger that if businesses do not improve their performance on energy management we could be facing the lights literally - going off on the economy.”

Other speakers include Marco Marijewycz from E.ON, who will talk about sustainable energy to enable sustainable businesses and engagement with energy in the future, while Russell Fowler from the National Grid will be telling the audience which tools the company uses to measure security of supply.

Finally, BESST member Neils McKenzie of McKenzie Law, will discuss corporate environmental legislation.

Jaclyn Kitson, BESST Network Co-ordinator, explained: “Our annual event with Metnet is always a great way to start the year, and we’re delighted to be hosting the session with support from the IoD. We have secured a number of fantastic speakers, including our keynote speaker, Amy Fetzer, who has worked alongside high-profile organisations such Hewlett Packard, Sodexo, the BBC and The Guardian, with involvement in their environmental strategies.

“This event will also see us host an exhibition for BESST and Metnet members to showcase their services and products.

“Since our launch, our events have provided members with the right information to improve their environmental performance and make significant savings, with in excess of £1.5million

saved as a result.

“These events always prove extremely popular and spaces are naturally limited, so I’d urge anyone interested in attending to book early with Sue or Carly at IoD West Midlands on 0121 643 7801.”

Business Environment Support Scheme Telford (BESST) works in partnership with private and public sector businesses to help improve their environmental performance, in order to boost competitiveness and reduce their impact on the environment.

BESST is a best practice sharing network, where members can share new ideas and exchange advice on ways to improve environmental efficiency.

The group also aims to educate members about environmental awareness, and ways they can implement strategies to become more efficient.

• For more information about BESST please contact 01952 567 578, email besst@telford.gov.uk, or visit www.telfordbesst.co.uk To book: online at http://www.iod.com/ WMidlandsevents or contact Carly.clyne@iod.com

Taking the leisure game to the very top Trouble Shooting at the Top Date: Wednesday, 11 February Time: 1800-2000 Venue: The Malvern, Grovewood Road,

Malvern, Worcs WR14 1GD Cost: Free of Charge This event is a great opportunity to hear about troubleshooting at the very top of business.

Helen Rogers has recruited, trained and developed some of the leisure industry’s leading sales executives and managers. Her role in a start-up business in the early 90s was so

successful that the facility was oversubscribed two months prior to opening its doors. This particular achievement earned Helen the industry award of European Sales Manager of the Year. Since then Helen has been involved at board level in some of the leading names in hospitality, spa, golf and health and fitness sectors including Viva! Health & Leisure, Whitbread, Marriott Hotels, MMM Marketing and Bladerunner.

She holds six directorships and two of her best-known companies are based in Malvern:

The Malvern, a luxury 4* boutique hotel, spa, health club and AA rosette-awarded restaurant; and the Colwall Park Hotel, an independent country house-style One hour hotel whose Seasons Restaurant has been awarded 2 AA Food Rosettes and features in the Michelin Food Guide. Welcome drink and canapés provided.

To book: online at http://www.iod.com/ WMidlandsevents or contact Carly.clyne@iod.com

IoD West Midlands January 2015 | 15

IoD West Midlands Events Diary

High-fliers for airport behind-the-scenes tour Women as Leaders: Birmingham Airport Date: Thursday, March 26 Time: 1800-2000 Venue: Birmingham Airport Cost: Members £15 + VAT Members 1.5 hours

Non-members £20 + VAT We are delighted to invite all members to this special event at Birmingham Airport.

We will be given a guided tour of the Control Centre and discover the latest developments at the airport, and its future plans and the important role it plays in the West Midlands economy Afterwards there will be a chance to network with other IoD members, at which a lasagne supper with wine/soft drinks will be provided.

To book: online at http://www.iod.com/ WMidlandsevents or contact Carly.clyne@iod.com

Top crime author to open up the casefile How one man went from covert surveillance operative and informant handler to number one true crime best selling author Date: Time: Venue:

Cost:

Monday, March 2 1800-2000 Harrison Clark Rickerbys Limited, 5 Deansway, Worcester WR1 2JG Free of charge

Cameron Addicott is a former undercover officer with HM Customs and the Serious Organised Crime Agency (SOCA).

In 2008 he left SOCA to travel the world and write the first part of his memoirs. The Interceptor was published by Penguin in July 2010 and went straight to number one in the Amazon true crime bestseller list.

The book is currently being turned into a BBC 1 crime drama series. Filming finished in October last year and was directed by BAFTA award-winning director Farren Blackburn. OT

Fagbenle, Robert Lonsdale, Charlie de Melo and Anna Skellern star, with well-known actor from BBC’s Waking the Dead Trevor Eve, playing the leading villain. It is due to be broadcast on BBC1 in early 2015.

Cameron’s media work includes appearing as technical expert on Chris Atkins’ C4 Dispatches documentary about the sale of personal data and playing the ‘Spymaster’ who taught Jared Murillo on Strictly Come Dancing’s ‘It Takes Two’.

His radio work includes Radio 4’s Midweek with Libby Purves and Five Live with Richard Bacon. In addition Cameron has advised on numerous other TV docs and has been interviewed on many local and European Radio shows.

This talk will be followed by a lively Q&A session and a book signing.

To book: online at http://www.iod.com/ WMidlandsevents or contact Carly.clyne@iod.com

Follow IoD West Midlands on Twitter @iod_westmidland and keep up to date via www.iod.com/westmidlands 16 | IoD West Midlands January 2015

Getting ready for the ‘For Sale’ sign Preparing your business for sale Date: Tuesday, March 10 Time: 0730-09:00 Venue: Higgs & Sons, 3 Waterfront

Business Park, Brierley Hill, Cost: Free of charge Like many business owners, you may receive phone calls and emails from business brokers who would like very much to One hour sell your business for you.

In fact, it is quite common for brokers to have a very “transactional focus” – the assumption being that your business is ready to sell or, for whatever reason, the business needs to be sold. However, like most things in life, time spent on preparation is time well-spent and this is particularly true when there is a business that needs to be prepared for sale.

Bob Brown is a partner at CMC Partners and helps business owners to prepare their businesses for sale. His short talk looks at business valuation from a buyer perspective and considers some of the key factors that will, on the one hand, drive down the eventual sale price if they are not addressed.

As importantly, we look at some of the value of the business can be enhanced in the build up to an eventual sale.

To book: online at http://www.iod. com/WMidlandsevents or contact Carly.clyne@iod.com

Scenes from the last Swan networking session

Diary dates at Higgs & Sons We are continuing our popular series of events in collaboration with Higgs & Sons in 2015.

On Tuesday, May 12 – Lt Colonel Chris Carter will give a presentation on the British armed forces and how they operate in the modern world.

Tuesday, June 16 – Nigel Dunand leads this seminar on motivating sales people.

Tuesday, July 7 – Craig Holden discusses ‘How to increase visits to your website’.

To book: online at http://www. iod.com/WMidlandsevents or contact Carly.clyne@iod.com

Join us for more networking at The Swan, Stafford Date: Thursday, February 12 Time: 17:30-20:00 Venue: The Swan, 46-46a Greengate St,

Stafford, ST16 2JA Cost: Free of Charge We are delighted to host another evening of quality networking in the relaxed setting of

The business of being... Stafford Railway Building Society Date: Wednesday, March 4 Time: 07:30-08:45 Venue: Stafford University, Beaconside, Stafford ST18 OAD Cost: Members £10+VAT Non-members £15+ VAT Susan Whiting CEO of Stafford Railway Building Society (SRBS) presents an informative perspective on the business behind SRBS. Susan speaks on how to be independent and locally managed whilst strongly being committed to the principles of mutuality, and ‘customer-first-and foremost’. This in turn is managed alongside how global issues affect the market and how they stay competitive.

In comparison with many businesses Susan offers to share how being small and mighty is possible through strategy and implementation, understanding the business fundamentals. As a result, over a century of mergers, take-overs and flotations have passed Stafford Railway Building Society by, leaving it still doing what it was established to do being regularly featured in best buy awards.

Susan Whiting was appointed as CEO in

One hour

January 2011, having been deputy CEO of the society since 2004.

She is a qualified chartered accountant, a member of the Institute of Taxation and has advised many local businesses and organisations.

She is a member of the Board of Stafford Chamber of Commerce and an officer of two local charities.

To book: online at http://www.iod.com/ WMidlandsevents or contact Carly.clyne@iod.com

The Swan, an 18th Century coaching inn in the heart of Stafford. We will be there from 5.30pm so you can drop in on your way home from work.

No need to book - just come along and say hello. The last event was a great chance to network informally with fellow IoD members

Get most out of social media

Lanyon Bowdler Social Media Date: Thursday, March 19 Time: 08:00-09:45 Venue: Lanyon Bowdler, Chapter

House North, Abbey Foregate,

Shrewsbury SY2 5DE Cost: Free of charge Social Media is here to stay and, like all good technology, it’s great when it works. Alas, as with all good things, there’s the One hour inevitable down side. This media-driven presentation explores the key areas in employment and appropriate actions that may be taken when staff choose to embrace social media in ways the employer may not have envisaged This seminar is a must for employers who enjoy the benefits of the internet age but are mindful of the need to manage staff activities to protect the brand and reputation of their businesses.

To book: online at http://www.iod. com/WMidlandsevents or contact Carly.clyne@iod.com

IoD West Midlands January 2015 | 17

IoD West Midlands Events Diary

It’s not games, it’s business Serious Gaming Institute Date: Thursday, March 12 Time: 18:00-20:00 Venue: Coventry University Cost: Members £15+VAT One hour

Non-mems £25+ VAT The Serious Games Institute (SGI) – based at Coventry University’s Technology Park – enables and facilitates the growth of the serious games, virtual world and related industries by supporting research and development. The creation of the institute originated from our regional strength in the global electronic games market through local companies such as Blitz Games, Codemasters and PixeLearning.

Tim Luft, the operations director for the Serious Games Institute, will go through the practical use of games technology for business, including key business case studies. There will also

be games and virtual reality demonstrations including a driving simulation, virtual reality headsets and multi touch tables.

To book: online at http://www. iod.com/WMidlandsevents

Tim Luft

Black Country Dinner: Manufacturing past, present and future Black Country Dinner Date: Wednesday, March 18 Time: 18:30-22:00 Venue: Dudley Zoological Gardens,

Castle Hill, Dudley DY1 4QF Cost: £40 pp We are delighted to be returning to Dudley Zoo and Castle again in 2015 for the now annual IoD Black Country Lecture and Dinner. This year we are honoured to welcome one of the region’s foremost social and industrial historians who will deliver a lecture on the area’s unique contribution to the West Midlands business and societal life.

Professor Carl Chinn will lead the debate on Black Country Manufacturing Past, Present and

Future on March 18. He will be joined by two other local speakers for what should be a fascinating event.

We held a similar evening last year, at which we looked at the impact of the manufacturing on the regional economy, and it proved such a popular event we have decided to run it again in 2015 along similar lines. As well as our speakers guests will enjoy a chance to get to know one of the region’s top visitor attractions, before being served a delicious menu of spring minestrone soup, aromatic slow roast belly of pork or Piedmont-style baked red peppers, followed by a white chocolate and passion fruit cheesecake.

The venue itself is of considerable interest.

Dudley Zoo is now a leading tourist destination, with a host of exhibits that make the most of the

zoo’s stunning location at the foot of Dudley Castle. Awards galore have showered down on the zoo with praise for its breeding and conservation work and its research and outreach programmes with overseas zoos and experts in its animals’ natural habitats.

Tickets are priced at £40 + VAT but we are delighted to offer you an EARLY BIRD OFFER at £360 +VAT if you book before February 6. Contact Sue Hurrell to secure your table.

Two hours

Speaker: Carl Chinn

18 | IoD West Midlands January 2015

Left, One of the zoo’s exhibits

Travel matters, with Chiltern Railways reveals winter art collaboration timetable commission

C

hiltern Railways has partnered with leading artists, Heather and Ivan Morison, and Birmingham-based art organisation, Eastside Projects, to commission the latest in a series of contemporary artworks to feature on its new timetable.

The artwork is entitled ‘Trackside walk: Birmingham to London’ and is an interlocking selection of stunning woodcuts inspired by the interplay between the countryside and the line along the route. The artists combine traditional craft techniques to form a science fiction-like image of a slowed-down, close-up version of reality, normally seen fleetingly from a train window at high speed.

Heather and Ivan Morison have exhibited around the world, with their work being represented in influential galleries such as the Tate Modern in London. The artwork will be displayed at stations along Chiltern’s route, showing how transport and art can combine as essential parts of UK public life.

Ivan Morison explained: “We thought about these two huge cities, Birmingham and London.

We thought about the line that runs between them and the stops along that line. We thought

Chiltern art takes you on a walk by the tracks about the houses and the fields seen from the train window between those stations. We got off the train and walked a rambling route, field by field, village by town by city, a dot to dot of stations, putting all those lives lived along the line into an order, placing them into a story of a trackside walk.”

Rob Brighouse, Managing Director at Chiltern Railways said: “The railway has strong links with the art world, reinforcing how it can play an important and inspirational part in everyone’s lives and has the potential to enrich our passengers’ engagement with our stations.

This is the most recent in a series of artistic collaborations and showcases how art has the power to make everyday items and spaces more memorable and interesting.”

Gavin Wade, Director of Eastside Projects

added: “This is an important commission by two artists who have shown an ongoing commitment to Birmingham since the early 2000s when they first produced ground breaking artworks from their allotment in Edgbaston. “Since then they have travelled the world exploring ways of making and storytelling, and crafted along the way a fascinating body of work, from performance to architecture, that questions how we live today. ” As part of the Chiltern Art Collaboration, the train operator worked with Swedish artist Gunilla Klingberg for the May timetable artwork as well as musician and artist Bill Drummond on several initiatives as part of the first leg of his World Tour 2014-2025, which was curated by Eastside Projects in Birmingham this year.

To find out more about this and other Chiltern community projects, and to book our money-saving tickets to London, see

www.chilternrailways.co.uk IoD West Midlands January 2015 | 19

Graduate opportunities The IoD West Midlands regional director, John Phillips, has often criticised the lack of good career advice in schools and an obsession with some middle class parents who automatically direct their children to the professions rather than business or creative industries.

John was therefore delighted to meet IoD member Jonathan Evans, who is the CEO of the Discovery ADR Group, which incorporates Discovery Graduates, a leading graduate recruitment and development organisation which helps secure and retain the right talent for business.

As a result of their meeting John asked Jonathan to outline the core philosophy of his business and how graduates can give your organisation a much-needed injection of new ideas and enthusiasm.

Here is what Jonathan said:

‘‘

At the heart of Discovery Graduates is a simple concept: if you take time to unravel all of the preconceptions that young people just starting out on their careers and graduates have about the commercial world, and work with them to understand what’s important to them – their motivations and their values – then there are an awful lot of fantastic young individuals (with or without a university education) bursting with enthusiasm and chomping at the bit to get their careers going. They just need the chance to prove it!

There are many graduates who have travelled the academic route but without a career plan – and in many ways it is these that need our help most.

It is my belief that all recruitment should be valuesbased. Hiring individuals on skill alone when their values are not congruent with those of the hiring organisation

20 | IoD West Midlands January 2015

How to get the very best from our graduates just does not work. At best it often ends in dysfunctional teams and toxic behaviour and untold damage to the culture. At worst, it ends in disaster, huge cost and a revolving door scenario! Likewise, focus less on their immediate impact and more on long-term potential.

Good graduate recruitment is a strategic decision and one that should be well thought through. We always play the long game with the knowledge and experience that graduate recruitment takes a solid approach to get it right. Successful graduate recruitment is far more than just securing the appropriate number of hires and making sure they all turn up on day one!

I have had the privilege of working with some of the best companies in the world, with inspirational CEOs, MDs and HR professionals who understand that if you are serious about graduates as part of an organisation’s succession planning strategy, you need to take a three-year view.

Our universities are turning out some terrific talent in the making and will continue to do so to meet the

“Focus less on their immediate impact and more on longterm potential....

Successful graduate recruitment is far more than just securing the appropriate number of hires and making sure they all turn up on day one!”

demands of industry but they are not the finished article.

They require attention, support and development which, sadly, is often left to chance. Just as you wouldn’t allow your son or daughter to drive your car without lessons and practice, even though they may understand the principles of how to drive, you wouldn’t and shouldn’t expect your graduates to manoeuvre their way to success within your organisation without showing them how, through training and development.

Statistically, and rather shockingly, the lack of appropriate development for your graduate hires will mean that over a third of all companies will fail with their graduate recruitment over the coming year and they will lose some exceptional potential future stars as a result. What an unnecessary waste of their investment!

If we think back to the start of our careers, at some point all of us were given a chance by someone else but it is my long held belief that more attention should be given to the ‘make-up’ of our children, recognising that we are all unique and not all of us should be guided down a particular path because of a subjective view or expectation.

Our children are forced to make their life choices very early on. As parents and peers, with the best intentions, we steer them towards careers that we feel will be best for them in the long term and not because they are necessarily best suited for them.

The world has changed. The global demands are far more immediate and intense. Organisations seeking high growth in ground-breaking industries require a different breed of talent going forward. Ten years ago jobs such as ‘offshore wind farm engineers’ or ‘app designers’ did not exist and therefore how can we possibly encourage our children to only consider careers and professions based on past experiences and what we knew when we grew up?

I passionately believe that to meet these modern demands this has to start with how we identify, advise and support our children when they are making these life-defining decisions. We need to consider their behaviours, their intellect and their passion in order to stimulate the right conversations between their parents, their teachers and industry, in turn giving them the most clarity we can to make an informed choice.

They have to live with this choice for the next 50 years, we don’t!

IoD West Midlands’ John Phillips concluded by saying: “I am absolutely delighted that Discovery ADR Group has agreed to help us with the fantastic work we have started with the University of Wolverhampton where myself and valued members of the IoD are mentoring current undergraduates. We help young people with basic employability issues and some of the softer skills that older people take for granted and are so important.

“Discovery ADR Group has agreed to help our students by providing, free of charge, a sophisticated behavioural profiling tool that will give them very detailed and personal reports when they start their career searches in earnest.

“I look forward to reporting back in forthcoming issues on the success of this venture.

“Finally, if you are thinking of employing a graduate I suggest you visit www.discovery-graduates.com.”

“Ten years ago, jobs such as app designers did not exist... so how can we encourage our children to only consider careers and professions based on what we knew when we grew up?”

‘‘ Want to know more?

For more details on the ADR Group‘s work, see www. discovery-graduates.com For more details on the IoD/University of Wolverhampton student mentoring scheme, and to get involved, contact John Phillips on 0121 643 7801 / john.phillips@iod.com

New members The following business leaders have joined the IoD since the autumn issue Lara Auger, University of Gloucestershire Nicolas-Gaspard Braham, Embassy of Belgium Kamini Challis, Regional Director G4S Facilities Management UK Ltd Edward Clarke, Managing Director Fed Ex Corporation Ltd Jason Cole, Consultant, Jonathan Lee Recruitment Ltd Gary Crowe, Director RBS Commercial & Private Banking Daniel Cutts, Liaison Financial Services Ltd Gerrard Dunningan, Managing Director Jaffray Care Group Randy Esposito, Business Development Director, Eos Risk Management Limited Jonathan Evans, Group Chief Executive, Discovery ADR Group Ltd Brian Gambles, Director Library of Birmingham Robert Gibbons, Marketing Director, Arrans Limited Phillip Gray, Managing Director Commercial Doctor Ltd Greg Hallett, COO, Everyclick Ltd Dawn Hands, Managing Director, Bostock Marketing Group Ltd Lysa Hardy, NBTY Europe Chris Hart, Director, All Fleet Services Ltd Paul Hawes, Director, Smartbox Assistive Michael Hodgskin-Brown, Managing Director E H Smith Group Ltd Ben Jackson, Capp & Co Ltd Riaz Jawwad, Chief Executive, Foren Money Limited Fiona Lawson, Managing Director Insight Solutions IT Services Limited Tim Luft, Director Serious Games International Ltd Toby Mitchell, Director Activate Sport Management Paul Nye, Chief Operating Officer Ormiston Academies Trust Clive Parker, Director Complete Building Control Ltd Graham Pollard, Chief Executive Klick2Contact EU Ltd Charlie Rawlings, CEO, Full Potential Anne-Marie Stanton, Managing Director Atteso Solutions Ltd Diane Steer, Chief Executive Riss UK Robert Swadkin, Production Director, Solo Rail Solutions Danny Walker, Director, Karndean International Ltd Richard Wood, Operations Director, Synectics Solutions Ltd Philip Yates, Managing Director, Coachwise Consultants Ltd

IoD West Midlands January 2015 | 21

Financial advice

How retirement will look in 2015 On 21 July 2014, the government released its response to the ‘Freedom and Choice in Pensions’ consultation, effectively giving the go-ahead for the sweeping pension changes that were proposed as part of the 2014 Budget in March. These changes could radically alter your plans for retirement, says Paul Morgan of PRM Wealth Management

F

rom April 2015, we will see more freedom in ways people can take their pension benefits when they reach 55. Few would vote against choice and flexibility for their pension, but what do the changes mean if you are planning your retirement? Here we give you five areas for consideration.

More freedom in how you draw your income In theory, the flexibility will allow you to treat your pension fund in the same way as any other investment: you will be able to take withdrawals whenever you want.

From April 2015, if you are a member of a defined contribution pension scheme and aged 55 or over, you will be able to draw money from it as you see fit. You can receive a tax-free cash sum of up to 25 per cent of the amount you take, then you will have the freedom to access some or all of the remaining fund as income, taxable at your marginal rate of income tax. So if you want to access all of the money from your pension, you will be able to take it as a lump sum.

As tempting as it sounds to get hold of your money when you want it, in practice, the tax treatment may discourage you from extracting large sums in a single year. So unless you really need the extra income, you may want to withdraw your pension savings at a slower rate that is more tax-efficient.

Although the new pension freedoms mean you will no longer be compelled to buy an annuity, if you are looking to secure a guaranteed income for the rest of your life, an annuity will still be an appropriate option for you, especially as it’s impossible to tell how long you will live.

Changes to how much you can contribute From April 2015, if you are drawing an income from your pension (after taking taxfree cash) and wish to make contributions to a defined contribution scheme, you can continue to do so, but the amount on which you can receive tax relief (the ‘Annual Allowance’) will be cut from £40,000 to £10,000 a year. This could be via employer or personal contributions.

The £10,000 Annual Allowance will be introduced for those already in ‘flexible

22 | IoD West Midlands January 2015

drawdown’. This provides a potential advantage as the existing rules prohibit tax-relievable contributions if you are already taking income from Flexible Drawdown.

In some circumstances the Annual Allowance will not apply, but the rules can be complex. For example, you will be able to take income from a maximum of three smaller personal pension pots, or an unlimited number of smaller occupational pension pots (in both cases, worth less than £10,000), without being subject to the Annual Allowance restriction. Similarly, if you enter Capped Drawdown before April 2015 and take income within your income limit after this date, the Annual Allowance will remain at £40,000 a year in these cases.

Transferring defined benefit schemes Transfers from private sector defined benefit to defined contribution schemes will continue to be allowed. The Government is also consulting further on allowing full or partial withdrawals direct from private sector defined benefit schemes, to remove the need to transfer out to a defined contribution scheme before taking benefits. If you are a member of a defined benefit scheme that is already in payment and you wish to transfer out, this will continue to be prohibited.

Transfers from unfunded public service defined benefit schemes will not be allowed.

Transfers from funded public service defined benefit to defined contribution schemes will be permitted.

Taxation on death to be reviewed The tax position on death under the current rules is that lump sum payments from any money remaining in drawdown is subject to a death tax charge of 55

per cent. The same tax rate also applies to any remaining pension fund not being used to provide benefits, if the death occurs from age 75 onwards. As part of the new reforms, the Government intends to abolish the 55 per cent tax charge for money inherited from pension funds, regardless of the age of death.

It has also extended the same generosity to money in drawdown, if the death of the holder occurs before age 75. For deaths after age 75, the tax rate for money inherited from drawdown will reduce to 45 per cent.

The new rules are effective from April 2015 but importantly, it is the date the claim is settled rather than the date of death, which determines if the money is paid at the new rates.

Guidance or advice?

From April 2015, the Government will introduce a new right to impartial financial guidance at the point of retirement, for anyone with a defined contribution pension scheme. The guidance will be delivered through the Pensions Advisory Service and the Citizens Advice Bureau. But it’s important to understand that what will be on offer is just guidance – not advice - so while guidance will explain the impact of these new rules and let you know what you could do, it won’t tell you what you should do.

Advice, therefore, remains essential.

Want to know more?

To receive a complimentary guide covering Wealth Management, Retirement Planning or Inheritance Tax Planning, produced

by St. James’s Place Wealth Management, contact Paul Morgan of PRM Wealth Management on 07528 327765 or email paul.morgan@sjp.co.uk.

PRM Wealth Management Ltd represents only St. James’s Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority) for the purpose of advising solely on the Group’s wealth management products and services, more details of which are set out on the Group’s website www.sjp.co.uk/ n Ready to help: products.

PRM Wealth Management Ltd’s Paul Morgan

The ‘St. James’s Place Partnership’ and the title ‘Partner Practice’ are marketing terms used to describe St. James’s Place representatives.

Irwin Mitchell The latest EU ruling on pay could have a marked impact on holiday pay provision for many companies, says Fergal Dowling, Partner, Irwin Mitchell

W

hen an employee takes annual leave, how much should he be paid? You might think that this should be a straightforward question, but it is proving to be one of the biggest and potentially most costly employment issues of 2014-15, and one that has generated widespread publicity following the recent decisions on overtime in the cases of Wood and others v Hertel and Fulton and Bear Scotland Limited.

The EU Working Time Directive (from which our Working Time Regulations derive) does not specify which elements of pay should be included when calculating holiday pay. The UK opted to utilise the method of calculating a “week’s pay” which provides that where a worker has ‘regular working hours’, his holiday is paid at a basic rate excluding overtime and commission. This definition has been successfully challenged in a number of cases.

The EAT has found that non-guaranteed overtime (which a worker must accept if it is offered) that is regularly worked must be factored into holiday pay calculations for the first four weeks leave taken in the leave year.

There was real concern among business leaders that employers could be asked to meet historic holiday pay claims going back 16 years.

These appear to have been alleviated (at least for the time being) as the EAT has imposed new conditions on bringing claims which should limit the financial risk to businesses.

This is because the EAT said that workers will only be able to recover underpaid holiday if they bring a claim in the Employment Tribunal within a strict three-month time limit which starts to run from the date of the underpayment (or the last of these if the worker has been underpaid over a number of months or years).

However, it went onto say that workers will not be able to claim back pay if there has been a gap of more than three months between holiday payments where there has been a shortfall. This is significant because it had previously been assumed that the length of time between underpayments could be longer than three months provided there was an established ‘pattern’.

Full-time workers are entitled to 5.6 weeks holiday and this means that most workers will find they cannot establish an unbroken series of underpayments because they are only entitled to have regular overtime included in their

Uncertainty remains following holiday pay ruling holiday pay for the first four weeks taken in each leave year. Any remaining statutory or contractual holiday can be paid at a basic rate.

This is likely to mean that there will be a break of more than three months between payments.

In an attempt to overcome this, it might be possible for workers to instead bring claims for underpaid holiday in the civil courts. This point is untested but it is likely to be litigated as potentially employees have six years to pursue a civil claim.

This means employers can now rely on this judgment to minimise historic liabilities for underpaid holiday. However, the EAT itself conceded that this aspect of its decision was ‘arguable’ and it is likely that other claims will seek to challenge this at a later date.

Affected businesses now face the very real prospect of having to fund enhanced payments to staff – even though they have operated within UK law for many years.

The decision in these cases is binding on businesses which must now make changes to their pay structures to ensure that nonguaranteed overtime that is regularly worked is factored into holiday pay calculations.

An employer can still legitimately refuse to adjust holiday pay where overtime is purely voluntary, it is ad hoc or where overtime is subject to an employee being able to “reasonably refuse” it (although this point will be determined when the Bear Scotland case goes back to the Employment Tribunal next year). Test cases are likely to be brought to challenge these more common overtime arrangements.

Businesses must also recognise that overtime payments are not the only issue they may have to contend with. A number of issues remain unclear and make it difficult for businesses to plan ahead.

For example, how should overtime be properly calculated? Do businesses average overtime over the previous 12 weeks, as

provided for under UK law? What if this is unrepresentative perhaps because of seasonal fluctuations?

We also expect further arguments about whether commission and bonus arrangements should be included in holiday pay.

This uncertainty is likely to see some companies holding back from making pay rises to staff which, potentially will have a knock-on impact on talent retention. Others are considering withdrawing overtime arrangements, and/or restructuring their pay arrangements. Any changes will require careful planning and consultation if businesses are to avoid other claims.

Best advice? Review your overtime arrangements now. If your business does operate non-guaranteed overtime arrangements that are regularly worked, you must factor this into the first four weeks of holiday paid in each holiday year. n Fergal Dowling is happy to discuss this

or any other legal query with IoD members. See www.irwinmitchell.com for contact details

Fergal Dowling, Partner, Irwin Mitchell

IoD West Midlands January 2015 | 23

Motoring

The beautiful big cat ready to pounce on business buyers

by ROB BESWICK

I

t seems like an age since Jaguar was hived off from the Ford range, sold, somewhat surprisingly, to Indian manufacturing conglomerate Tata. Yet it was only six years ago that a loss-making part of the global Ford portfolio was sold to a company with no track record of building cars for the global market.

You have to wonder today what Ford makes of the deal. It made £1.7b, yet when you see the brand today, was that a good price? Could Ford have turned the corner with Jaguar or had it taken the brand as far as it could?

We’ll never know; one thing that is certain is that from a position of loss-making, Jaguar now returns a healthy profit – of around £1bn as part of the Jaguar Land Rover partnership.

The profits come from a suite of cars that are staggeringly good – and yet, when you consider the XF range, amazingly affordable. The qualities on display carry all the hallmarks of the classic upmarket Jaguar lines of the 1960s, when ‘big cats’ were the only cars for the wealthy to be seen in, yet today’s price tags come with an altogether more moderate ring to them. Simply put, a Jaguar XF for less than 30k: around £3-4k more than a Ford Mondeo in similar spec. Now ask yourself, which turns more heads? Which has more visual appeal?

Which suggests a seat on the board? Case closed.

And with the Jaguar XF, it would be a walnut veneer case with striking aluminium piping.

For that is the vision that greets you when you first open the doors. In my case, the official description was warm charcoal suedecloth seats with bond grain leather facings, a warm charcoal bond grain upper facia, allied to a dashboard of knurled aluminium with satin American walnut. It conjures up the classic atmosphere of Jaguars of old – of a select country club with an air of understated quality and opulence.

But the rest is hi-tech. Slide

24 | IoD West Midlands January 2015

behind the wheel and press the autostart/stop button - no keys here, literally, and more of that later. The child in me loved the elegantly rising automatic gear selector knob from the central console, and the way the air vents were smoothly exposed. Press the ignition and the 2.2-litre diesel purred – not roared – into life.

Easing off, the auto box is nicely grooved, providing an element of delay before providing real pace through the gears. Around town the XF was content to join the rest of the traffic, smoothly rolling through the city with a minimum of fuss – the joys of auto boxes.

But where autos lose – but the XF wins – is away from the traffic, when you open the beast up to the open road. Motorway driving was a joy: plenty of power for overtaking and ‘get out of trouble’ pace on tap. An efficient and easy to use cruise control with ASL (Automatic Speed Limiter) allowed me to set my preferred speed, sit back and let the XF do the work for me.

More fun – if driven carefully – was on rural roads on a lazy Sunday. With good visibility and dry ground under its tyres the XF came into its own, pouring into corners while real grace and pace, coming out the other side with a satisfied smile on its face. Handling is superb: taut, with real feel from the road in the same way you usually only get from a track car or smaller supermini. It comes over all Italian and sporty, shrinking in size to deliver sports car handling and dynamics.

So where does all that fun come from? An engine that’s fitted in a longitudinal format, mated to an eight-speed ZF auto gear box. This features Jaguar Sequential Shift™ which allows faster, smoother gear shifts as well as manual control via paddles mounted behind the steering wheel. To suit your driving preferences or the prevailing conditions, two additional

modes, Sport and Winter Mode, can also be selected with JaguarDrive Control™.

The crucial detail for business users is what this means on the tax band: combined with Jaguar’s Intelligent Stop/Start, it drags the XF 2.2’s emissions to 129g/km CO2, mark, and a return of 57.7 mpg on the combined cycle – that is 21% on the HMRC BIK tables. By way of comparison, it’s better like-for-like than key rivals such as the BMW 520d, Mercedes E-Class and the Audi A6.

Other key reasons to buy: the quality of the interior isn’t confined to smart trim levels and woodwork. This is a seriously comfortable car.

Memory seats allow the driver to select the ideal position, and there’s strong support for thighs, back and neck. To the rear, the sloping roof is a tad tight for comfort for six-footers, and the boot, while cavernous, suffers from that lack of practicality that all saloons face, in that there’s plenty of capacity but it isn’t always usable.

Other problems? None – though I had a personal trauma with the Smart Key System, which grants keyless entry. It’s very clever.

Keyless entry lets you into your XF without pressing a button. Simply unlock and disarm the vehicle by operating the door handle – it senses the key’s presence. But if you still have the keys on you, and try the door handle to check it is locked – as I do, a habit I’ve had for 20 years – the Jag immediately thinks you want to get back in, so conveniently opens the door for you. I was left having to walk away with the keys so they were out of range, then go back to the car to check the door was locked... I know, I know, OCD is my middle name...

But boy, is that the only problem I had. This is a great car to drive, is perfectly positioned price and performance-wise, and looks beautiful. Compared to the rivals, its curves and menacing front grille make it stand out from the pack. On looks alone the XF will turn heads, from five years to 80 years old, wherever you drive. Fancy a Mondeo over this? You must be mad!

Would I have one? Absolutely!

Your finance director might suggest the BMW 520d is a more tax-efficient beast with its lower emissions, but this is a spectacular motor car: beautiful, sleek and stylish If you are looking to change your company vehicle, give it a test drive. Trust me, you won’t be disappointed

Charity spotlight

Celebrating life: The John Taylor Hospice team

J

ohn Taylor Hospice is one of the West Midlands’ ‘oldest new companies’. For more than 100 years its staff have been at the heart of Birmingham, providing end-of-life care and support when and where it is needed.

Founded as the John Taylor Memorial Home on the principle of mutualisation in 1910, it was gifted to the NHS in 1948. In 2011, John Taylor Hospice became an independent social enterprise, a ‘new mutual’ under the Department of Health’s Right to Request process.

Independence has meant a huge step forward for the hospice. CEO Kate Phipps says: “Our purpose is to ease the personal and social cost of illness and death just a little every day.

“Being an independent organisation means our staff can respond with humanity and now all of our care is ‘Taylor-made’ to each person we care for. We have developed new IT systems that work in the background to ensure that care meets the requirements of our investors and we are proud to be able to deliver that care on behalf of the NHS. “Every year more than 8,000 of our friends and neighbours in Birmingham will lose someone they love.

We know illness and death can mean intolerable anguish and be frightening, undignified and costly. John Taylor Hospice is here to help prevent this. It is what our purpose means in practice.”

Each day more than 600 people across Birmingham and the West Midlands will receive the care they need from John Taylor Hospice.

Whether this care is at the in-patient unit or the ‘Heart of the Hospice’ day hospice at The Grange in Erdington, or in people’s homes, John Taylor’s staff and volunteers are totally dedicated to making every moment matter.

This may involve personal and nursing care, it may be balancing medication or it may be support from a team of physiotherapists, dieticians, pharmacists, occupational therapists, social workers and patient and family support worker.

The hospice’s well-being team is also there to ensure excellent mental healthcare is in place and that they provide support for people before and after bereavement, offering a safe space to talk through feelings of pain, isolation and loneliness.

John Taylor is the first hospice in the UK to become an

New approach is at the heart of end-of-life care independent social enterprise and it has become a trailblazer, being shortlisted and winning a series of awards and quality marks.

In November it was one of the first social enterprises in the country to gain the SE Gold Mark Award and was showcased at the launch of this new quality mark at an event at the House of Commons attended by MPs Hazel Blears, Ben Bradshaw and Jack Dromey.

In the same week the hospice won the RBS SE100 Index Storytelling Award for its Benjamin’s Brothers campaign, which targets prostate cancer in AfricanCaribbean communities in Birmingham. These awards in London were attended by Minister for Civil Society Rob Wilson.

John Taylor Hospice continues to work with the NHS to provide care. It also relies on people and local businesses who choose to invest in its future. It costs £14,000 to run all of the hospice services each day and many businesses choose to support the hospice by funding a day or an hour of care.

“John Taylor Hospice has always been at the heart of the Birmingham community and local people and businesses want to invest in the care we provide,” says Kate. “By working together, we are able to continue to provide care and support. We have been there for generations of people in the West Midlands and will continue to be so for future generations.”

John Taylor Hospice CEO Kate Phipps with Hazel Blears MP, receiving the SE Gold Mark Award at the House of Commons

Want to know more For more information click on www.johntaylorhospice.org.uk

IoD West Midlands January 2015 | 25

ART Business Loans

ART – here for business growth’s sake Since its launch 17 years ago, ART Business Loans has been a well-known organisation from which start-ups and micro businesses across Birmingham could access funding.

But now, having helped finance the growth plans of hundreds of businesses, the way it operates has changed greatly in a response to changing demands. Gone is the focus only on start-ups in the inner city, to be replaced by a wider perspective, with larger finance packages on offer to support businesses and a wider geographical remit that covers the whole of the West Midlands. Its brief is now to facilitate growth and jobs creation wherever it can - stepping into the void left by those high street banks who are reluctant to back business enterprise. IoD West Midlands caught up with its chief executive, Dr Steve Walker, to ask how ART has changed, its new goals and how it can help your business access the finance it needs to cater for growth IOD: ART is perhaps best known within the Birmingham business community as an alternative source of business funding for inner city start-ups and micro businesses. Is that still the main sphere in which you operate?

No. We will still target the under-served areas which have been the traditional focus of CDFIs (Community Development Finance Institutions) such as ourselves. However, our focus has always been to support the access-tofinance agenda for businesses wherever they are located and of any size, provided that they were supporting local jobs.

New opportunities and sources of our own funds have enabled ART to widen its lending to cover the wider West Midlands.

IOD: Was it the financial crash of 2008 that necessitated the change?

The change in the lending appetite of the banks for businesses, especially in the SME sector, was already changing in advance of 2008. The crash really emphasised the problems facing both the banks and businesses which have led to other solutions.

The area and scope for our help has widened and other sources of finance, including the Government start-up loan programme, have substituted at the lower end.

ART and the IOD

IOD: Do you still meet companies who have had problems accessing funding from the high street banks? I thought they were all “open for business”, to quote their own PR. We don’t wish to criticise the banks but we know that we are lending at record levels at the moment and in the past 12 months have seen far more businesses approaching ART and other sources of finance to support their growth plans. Some of the businesses we are now talking to are much larger than we would have expected in the past. As a result we have increased our maximum loan size to accommodate larger businesses, and we can now lend up to £150,000.

In our case we only lend if a bank has said no. We are an additional source of finance to the high street banks. What is apparent, however, is that we believe that we could lend more.

With our connections we are also able to signpost to others if we are unable to help fully.

IOD: Banks have been criticised for taking a ‘tick box’ culture to business lending that perhaps has omitted the old concept of relationship banking. Would you say that ART is the polar opposite of that approach?

Our approach does return to relationship banking as it used to be, as we not only visit all new borrowers but do make a lot of effort to understand their business and needs.

IOD: What type of projects do you find companies are looking for you to support?

These vary a lot but are mostly linked to growth. It‘s important to stress that to any business looking to approach ART for finance, we need to see a viable proposition and the key

ART Business Loans has very strong links with the IoD. The current chair of the nine-strong voluntary board of ART is Craig Errington, chief executive of Wesleyan, an IoD member and a former IoD West Midlands and national Director of the Year. Other members of the board are also in the IoD. The first chair of ART at launch in 1997 was Sir Adrian Cadbury, who remains ART president to this day.

26 | IoD West Midlands January 2015

IOD: Do companies accessing finance tend to look only to ART for the funding or does it tend to be a multi-provider approach?

This has been the biggest change over the last few years as businesses are seeing their financing needs met by a package of finance, which can include friends and family, banks and a host of alternative funding sources, some new, such as peer lending, and some established, including ART. What we are also seeing is businesses borrowing from ART in the short term, then repaying us – as there is no penalty for early repayment – and refinancing with the banks or other providers when they are able to.

The faith shown by ART in a business often enables it to access further finance.

Continued on page 28

ART Business Loans

ART - for business growth‘s sake continued from page 26 for the business is to clearly show how they are going to meet their own targets and also repay our loan.

IOD: Do you see yourself as a competitor to the high street banks?

Unlike some of the other alternative sources of finance, we are currently an additional source of finance and are not in competition with the banks.

I do wonder how long this situation will continue, however. I am certain that many of the high street banks will not return to service the market we serve. Our task will be to find additional sources of finance to increase the

help we can provide.

Some banks I believe might prefer to lend wholesale funds to CDFIs such as ART and not lend directly to the smaller business customers.

Many banks are already showing that they cannot provide relationship banking to an increasing proportion of their business customers. That is where ART can step in.

IOD: It does seem at times that the major lenders are placing too many barriers in the way of businesses looking to grow. Do you think ART and its counterparts will increasingly be seen as the ‘traditional’ places from which businesses can access funding?

This is possible but will require additional

funding. A concerted campaign is being launched by the CDFA (see www. cdfa.org.uk for further details), the trade association for the Community Finance sector, to seek to establish additional combined funding from the public and private sector; including the banks - this would mirror the success of the expansion of the CDFI sector in the United States.

IOD: If you had one message to get over to IoD members, particularly those running/ owning SMEs, what would it be?

There has never been a better time to seek finance to grow your business. Look beyond the banks and seek help in sourcing a package of finance and making your case for support.

The ART Business Loans team.

From left, Graham Donaldson, Martin Edmonds, Chris Allen -Lloyd, Andy King, Barbara Seaton and Steve Walker.

ART case study: Aceon Battery Solar Technology Ltd Just two years after setting up in business together, Mark Thompson and his father, Gerry, were celebrating. Not only had they established a successful battery supply business, the pair had developed the world’s first four-pin socket solar-powered docking station and won the UK Trade & Investment West Midlands Region Export for Growth prize 2012.

Having invested their own savings in the original R&D, and with an existing bank loan from Barclays to support the growth of the core business, Mark and Gerry were looking for additional finance to make some modifications before embarking on full production. With the support of an ART loan the business had the confidence to proceed with their plans and has since created a number of jobs and increased their exports.

“The loan from ART enabled us to bring the product to market faster than would otherwise have been possible” says Mark.

28 | IoD West Midlands January 2015

IoD West Midlands January 2015 | 29

Employee benefits

I

n view of the ongoing debate about the work-life balance we achieve in the UK, the impact of mental health at work remains a key concern for businesses across the spectrum. This has led many to question whether we are spending too much time talking about the issue, and not enough time engaging those employees at risk. Stress is the single biggest cause of sickness in the UK, affecting one in five of the working population1, but many employers still do not actively address stress in the workplace.

In encouraging businesses to be proactive, Brian Hall, Managing Director of BHSF Services Ltd, calls on us to picture icebergs, sabre-tooth tigers and elephants.

The iceberg represents employees’ stress both above and below the surface. The obvious, visible ‘tip’ of the iceberg includes factors which are visible to employers and, to some extent, under their control.

Employers can, of course, monitor workloads and look out for some visible stress indicators – headaches, bad tempers, missed deadlines and so on. While some organisations can shield their employees on the basis of these signals, there may, at the same time, be any number of pressures, external to work, affecting the employee. Whether these issues involve marital break-up, substance abuse, bereavement, or debt, the effect they have on the individual in the workplace may go unnoticed by even the most attentive manager.

Of the 11.3 million days the Labour Force Survey 2013-2014 tells us were lost to stress, depression and anxiety in 2013-20142, relatively few will have been caused solely by ‘visible’ work-based issues.

The response to the ‘iceberg’ of stress is the sabre-tooth tiger response. Confronted with one stressful situation or sabre-tooth tiger – a deadline, an unhappy customer, an important presentation – the employee’s in-built fight or flight instinct will kick in.

Their body will respond, and they will tackle the problem, before their stress levels return to normal.

However, if the deadlines, unhappy customers, and other issues are unrelenting, employees are never given the opportunity to ‘come down’ from this state of stress and anxiety. Often, the body’s natural responses work against them, and they find themselves unable to cope with the pressures of work. This may lead to employees requiring a leave of sickness absence, in turn creating more stress for colleagues, as they find themselves picking up extra work.

The only solution to this problem is to tackle stress head on. This is, unfortunately, where many employers fall down, failing to provide employees with the support they themselves have recognised a need for.

Stress can often be the elephant in the room, with neither employers nor their employees wishing to take the first step towards acknowledging the issue and its causes.

The best way for employers to combat this, and proactively encourage good practice in managing stress, is to formulate a strategy for support. This should be clear and consistent across the whole business, from the contract and staff handbook, through to the broader culture of the organisation – stress should not be a dirty word.

30 | IoD West Midlands January 2015

The stress you see is just the tip of the iceberg Of course, stress, like other mental health issues, is a subject which must be treated sensitively and with care. By “eating the elephant one chunk at a time” with the help of key providers and services, businesses can build up a support system for their employees.

The HR support services market is now full of products that can assist organisations to fulfil their duty of care and spot and address warning signs in employees, without having to divert valuable resource from their usual HR functions. By combining support products and services such as e-days, an online absence management system, an Employee Assistance Programme, and occupational health support, businesses can address issues in the workplace, at whatever stage they may be.

Whatever route employees take in response to stress, one way or another, the employer eventually picks up the bill.

With a range of inexpensive, low-admin tailored services available to help employers to support their workforce through stress in their work and personal lives, organisations should be proactive in resourcing the right support for their employees in 2015, rather than simply picking up the bill.

1 http://www.stress.org.uk/ Stress-at-work.aspx 2 Labour Force Survey 2013-2014