Why enage a Non-Executive Director?
Engaging a non-executive director is one of the most important processes a recruitment business can go through. The right advisor can help a business grow significantly and help the organization achieve future growth objectives. On the other hand a poor hire can result in internal conflict and discrepancies. As a result, it is important to follow these best practices when looking for a suitable non-executive director for your staffing organization.
What is a Non-Executive Director?
A Non-Executive Director (also known as an “NED”) is a part of the board of directors, without being an operational executive. NEDs tend to stay away from operative tasks and direct management and focus on strategy, processes and planning. They often also best represent the stakeholders of a recruitment company and ensure the executives are working towards the best interests of the company.
As a result, non-executive directors are vitla to maximizing efficiencies and drive growth and performance. We’ve broken the benefits of hiring a non-exec director into 3 main focus areas.
1. Fresh Perspective
Bringing in an external candidate can provide a fresh outlook on opportunities and inefficiencies in the business. They can provide level-headed opinions that provide a clear and unbiased view.
Non-Execs (NEDs) often understand decision making, policies and processes that can limit or advance a company. These top-level strategies are likely to have a big impact on how a business can scale.
2. Experience
Non-Executive Directors bring with them years of experience. This experience ensures that decisions are backed up with a real-life understanding of reacting and solving problems within a business.
It’s often this experience which is the difference between a company that can grow and be seen as an attractive investment, and a company that struggles to progress and shows signs of inefficiencies and problems.
3. Network
Non-Exec Directors will have built up a vast network of influential and skilled people. Networking takes time and being able to bring in someone who can share resources and opportunities which would normally take decades to acquire provides an enormous competitive advantage.
This is why hiring a non-exec director is such a vital process to allow a company to grow quickly and gain competitive advantage.
Where to Start when Hiring a Non-Exec Director?
