Identifying what jobs a non-executive director will do will help ensure you can measure how successful the appointment has been. Not giving a director guidance on their role can lead to a lack of understanding and direction.
The daily role of an NED will change from one organisation to another. The requirements of an NED need to be stated so potential candidates know what’s expected of them.
We have outlined an example work plan template below.
A non-exec shouldn’t be given tasks that will get in the way of their roles. A non-exec is there to lead an organisation and their day to day job should reflect this. As a result, expect an NED to focus more on creating opportunities, evaluating processes and finding new ways to grow.
One of the main areas an NED will need to focus their time is on helping the board and directors meet targets and achieve goals. The NED needs to be able to identify if the organisation is likely to miss targets and quickly identify how they can overcome any problems.
A successful NED needs to have a solid financial background and understand the chances of an organisation going into financial difficulties or when they should be looking to grow and invest in themselves.
An NED is expected to bring experience and contacts to a business. Having experience and contacts can help an organisation grow and develop. Furthermore, they should be investing a lot of their time into ensuring the business has lots of opportunities to take full advantage of the NED’s contacts and networks.
Planning on hiring an NED to help transform your business? Contact us today for more information.