Why you should become a Non-Executive Director
Non-Executive Directors (NEDs) play a vital role in the governance and success of businesses. They are independent directors who bring skills, experience, and expertise to a Board of Directors. NEDs help to set the strategic direction of a company, provide objective oversight and guidance to management, and ensure the executive team is held accountable for their decisions.
Throughout our 20+ years of experience in Executive Recruitment, Moon has placed Non-Executive Directors for countless organisations - from private family businesses and SMEs to FTSE and Publicly Listed Companies. You can explore our Executive Case Studies for some examples of our successful NED placements. Through this journey, we’ve gained a deep understanding of the numerous professional and personal advantages of becoming a Non-Executive Director.
Below are some of the most significant advantages of becoming an NED:
Making a difference - NEDs have the opportunity to make a real difference in the organisation they support. They can help shape the strategy and direction and play a key role in ensuring that the organisation is well-managed and accountable. These actions are often highly rewarding in both a personal and professional capacity.
Broaden your horizons - Working as a Non-Executive Director exposes you to different industries, new people, and fresh modes of thinking. This enables you to grow as a person and expands your professional network.
Develop your skills - NED roles can help you develop a range of transferable skills, such as strategic thinking, corporate governance, and risk management.
Improve your CV - Experience in a NED position is valued highly by prospective employers and increases your employability significantly.
Be rewarded - NEDs at most businesses are remunerated for their services, this is not just about money but the reward of supporting a business on its’ growth journey. In terms of salary, this should typically match the duties and time commitment. Most NED roles are part-time, giving you the flexibility to pursue other interests or commitments. Furthermore, you could earn additional remuneration by chairing risk and/or audit committees.
Before applying to become a Non-Executive Director, it’s important to understand what the organisation is looking to gain by hiring their new NED. Of course, this can be highly specific based on the organisation in question, but here are some of the main benefits an NED provides:
Independent oversight - Non-Executive Directors are independent of the executive team, enabling them to provide objectivity and impartial oversight/guidance.
Strategic expertise - NEDs bring a wealth of experience and expertise to the Board. This helps develop and implement a sound strategy.
Diverse perspectives - Individuals from different backgrounds and experiences bring new ideas and previously unconsidered perspectives to the Board.
Challenge and debate - Non-Executive Directors should challenge the executive team, creating an open debate - ultimately ensuring the best decisions are made.
Legitimacy - A well-functioning Board with NEDs can enhance an organisation's legitimacy and reputation.
If you are a skilled and experienced professional looking for a challenging and rewarding role, then becoming an NED may be a good option for you. NEDs play a vital role in the governance and success of companies, and they can make a real difference in the world. You can browse upcoming NED opportunities on our Executive Vacancies page.
Or, if you’re looking for a game-changing NED for your company, get in touch with the team at Moon and find out how we can help you find the perfect match, or browse our Talent Pool where one might just be waiting for you!
