LONDON, Nov. 10, 2014 (GLOBE NEWSWIRE) -- Harvey Nash Executives Search's Board Practice has published a new report that casts new light on the changing role of Non-Executive Directors as the corporate environment demands more transparency, accountability and diversity in its board room. Key findings from the research, which is based on data and interviews with hundreds of board members across the UK, include:
- There is a stark mismatch between the skill sets on boards and the challenges organisations face – Over half of the companies asked thought digital, talent management and corporate reputation / brand were increasingly becoming issues, less than one in ten board members come from a background where they would have these expertise. Board diversity doesn't just come in the form of different genders or ethnicity but in experience too.
- Many new non-executives are ill-prepared for the role – Three in ten new board members were not prepared for the fact that they were not able to offer the expert advice they thought, and over a third did not anticipate the amount of time there were expected to give and how the Board worked.
- The influence of the old boys' network may be fading – Two thirds of respondents went through a formal recruitment process and were unknown to the organisation. However, 79 per cent of the women that responded went through a formal recruitment process compared to just 57 per cent of men, so there is still work to be done.
- Chairs are relatively dissatisfied with the talent on offer – Only one in five Chairs were 'very satisfied' with the pool of talent offered to them and a further six in ten were 'moderately' satisfied, but they may just be using the wrong criteria. Some basic assessment of candidates' expertise and therefore suitability is not assessed fully by all parties involved.
To receive a full copy of the survey please either complete this form or email michelle.smith@harveynash.com
Full press release here