A great non-executive director can transform a business. They can rally a team, improve efficiencies and help create a more successful organisation. So what makes a great non-exec director?
1 – Knowledge
A non-executive director needs to be able to bring a high degree of knowledge to the business. This knowledge is focused around how to execute strategies and plans. A non-exec director doesn’t need technical knowledge or years of experience in a specific field, rather they need to understand how to build a successful team that gets results.
2 – Supportive
A great NED needs to have empathy and be able to relate and understand employees and the team around them. Getting results isn’t about aggressive sales strategies, instead, it’s about learning how to get the most out of a team and develop efficient systems.
An NED’s role is about finding solutions that best serve the interests of the business and its stakeholders. As a result, an NED needs to be able to create a supportive environment that helps achieve these goals.
3 – Data Orientated
Having measurable data will ensure the business can identify inefficiencies and areas of strength. A quantitative focus on data and stats will mean a non-exec can let the numbers inform decisions and strategies.
Case Studies: What Makes an NED Successful?
At Edward Drummond, we believe that the success of an NED is their ability to add value to the Board. This is as much about inherent experience and track record, as it is their ability to relate to the client’s journey.
With most clients, particularly those growing fast or undergoing significant change, successful working relationships and effective communication, where there is trust and respect across a Board, is often the most critical element. This requires sound judgement when assessing and selecting suitable personalities and communication styles. A successful NED needs to have a balance of being able to question strategy and govern decision making, with teamwork and the ability to listen and integrate into a wider team. This will ensure they have the interests of the stakeholders and Board at the heart of every decision they make.
Go behind the scenes and contact us to see how hiring an NED helped transform a business.