Key things to consider when searching for your first NED role
Once you’ve made your decision to find a non-executive role, it’s important to set your expectations appropriately. Finding your first role is hard and can be a numbers game, so you need to be patient and resilient. Competition is high and those from HR backgrounds are often not as desirable as those from other areas.
Here are some first steps to consider:
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Build your profile and broaden your network. Is your LinkedIn profile up to date and positioning you for non-executive work? Tap into executive search firms with board practices and network extensively with those who already hold board positions and with stakeholders (such as investors and brokers) who might know about available roles.
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While networks are crucial, roles are more widely advertised these days (not just on the golf course). You’ll find them via headhunters, LinkedIn and specialist job boards like Nurole (especially for smaller and third sector organisations). UK public appointment openings are posted on gov.uk.
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Choose your first role carefully. NED roles can carry more risk than executive ones and, once in, you must stay your term. Think about the values and culture of the organisation and the board; you need to be able to build relationships fast. And do your due diligence. It’s better to have no role than the wrong role.
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Check the calendar of board meetings against your availability before applying.
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If you are building a portfolio, try to ensure you are not going to have all your terms end or come up for renewal at once.
Headhunter tips
“In applications, reflect on your ‘anchor points’ of experience and skills. Consider what your genuine differentiators are and ask trusted contacts for feedback. Be prepared to demonstrate achievements that speak to this experience, what you’ve learned from it and how you might apply this as a non-executive. Do your homework on a company and industry. Be prepared to offer a perspective on the challenges and opportunities and marry this with your experience, as well as showing you are up to speed with corporate governance and the regulatory environment. Networking and advocacy are critical. Spend time to make connections, build new relationships and leverage established connections. Build relationships with search firms and advisers who are operating at board level. Advocacy and sponsorship can make the difference in landing your first NED role.”
Chris Smith, Partner, Leathwaite
“Networking is so important. Start with your own network, as there will be lots of people you know sitting on boards. When doing a search, it’s helpful for us to have people introduced, who come with context, so cultivate people who can vouch for you and provide a reference. Be able to articulate what you can bring to a board in a few sentences. Look for chairs who are prepared to invest in you. You are picking a chair as much as you are picking a business. That chemistry piece is so important. Ask questions, meet other NEDs, test the dynamic on the board and between the non-execs and execs. Ask your search partners for analyst reports: it’s helpful to know how the company is viewed by the markets. You can’t underestimate the value of due diligence.”
Anna Penfold and Kerynne Metherell, Partners, Russell Reynolds Associates
“We are increasingly asked to target ExCo HRDs from large and complex organisations. The aim is to locate individuals who can genuinely help to create a workforce for the future. Highlighting your understanding of the strategic issues in doing so, for example, generational differences or trends, and how these impact areas like leadership, culture, transformation, diversity and retention strategies all strengthen your candidature. As does demonstrating that you understand the link between staff morale, deep staff engagement and continuous improvement strategies, and how these go together to enhance the service user, customer or patient experience at the front line. With 80–85% of fixed costs directly related to people, there is a need to broaden HR’s impact beyond the (often more transactional) RemCo input. Showing that you understand this strategic imperative in your application, and that you can be central to ‘future-proofing’ the organisation by helping the executive to devise meaningful target operating models is what we look for in a strong NED application.”
Peter Buffoni, Partner, Gatenby Sanderson (specialists in public sector appointments)