8 minute read
Women on Boards
Alternative Career
show to become a Non-Executive Director
Insights from Christina Blacklaws
When I finished as President of the Law Society of England and Wales in 2019, I decided I didn’t want to return to a full-time role and so I started to explore my options.
The positions that really attracted me were still in the legal sector but in a more independent, strategic and supportive role.
Four years on and with several Non-Executive Directorships under my belt, I can confidently and fully recommend this career choice to anyone.
I love the fact that I am actively helping and supporting my businesses (most of which are law firms) to achieve their goals. I am intimately involved and invested in these businesses- I really care- but it is not my responsibility to do the work to make success happen. I am there to monitor, challenge, support and feedback, but, ultimately, their success is their own. I am their ‘critical friend’ and this often means also acting as coach and mentor to senior executives in the business.
I’ve had opportunity to help develop strategies around issues about which I am passionate- such as Diversity, Equity and Inclusion, purpose and vision and innovation and technology. This gives great job satisfaction but also freedom in a way I had not experienced in all my many previous roles (although, please note, that NEDs have the same responsibilities as executives under Company law).
In this article, I want to help you to consider and, if it’s right for you, to successfully apply for NED roles.
How to become a non-executive director
1.Skills Required
• Strategic thinking
It is helpful to have the ability to evaluate goals and provide creative solutions that improve the business over the long term. A big part of this is developing clear and practical aims, working out how realistic they are and how long it might take to reach them, while also thinking about the possible outcomes, setbacks and opportunities.
• Diligence
A non-executive director frequently has control over internal audits and performance measurements. As a result, they have a high standard of diligence in carrying out their responsibilities and keeping up with industry standards. Successful non-executive directors have a thorough understanding of compliance and regulation, personal integrity and attention to detail.
• Objectivity
An outside viewpoint is amongst the most helpful things a nonexecutive director may provide. This helps to work out future corporate objectives and advancements. A non-executive director maintains objectivity and handles problems at a distance from the organisation.
• Creativity
Using creativity means finding new ways to solve problems or looking at them differently. In a dynamic corporate world, agility and innovation are essential talents. Non-executive directors may develop unique insights and ways of thinking through creative thinking, which helps an organisation become futureready.
From my perspective, those with a legal skill set are often very well placed to successfully apply for NED roles.
2.Prepare for the role
Be specific about the kind of organisation you want to work with. Governance is a huge part of the role, but this will vary significantly in terms of size and type of organisation. Smaller organisations might be more involved in operational matters. If you enjoy this, it might be wise to concentrate your efforts on smaller entities.
A non-executive director demonstrates an awareness of business finances and legal issues to oversee an organisation effectively. Normally, this results from your executive profession, but to be sure you have the skills necessary to analyse an organisation's, consider enrolling in a personal development programme.
3. Update your CV
As with any other job search, evaluate your career to date and check that it accurately captures your experience before applying for a non-executive director position. Remember that this position places a strong focus on personality and talent, not just your professional accomplishments. Make sure your CV demonstrates your independence and willingness to make judgements.
4. Get the right experience
The market for non-executive directors is quite competitive. It might be particularly challenging to land your first non-executive director role, but there are several preparatory steps you can take to increase your chances:
• Consider accepting a non-executive director position at a non-profit or charitable organisation. Not only might this be tremendously rewarding, but you will also gain useful experience.
• Try to locate a mentor who currently serves on a board. Ask them to provide you with insights into how the board functions, suggestions, access to director networks and personal recommendations.
• Become a school governor. The obligations and responsibilities of a school governor are almost identical to those of a non-executive director. You become a more wellrounded candidate as a non-executive director when you combine your commercial skills with the ability to offer an objective viewpoint in operating a school.
5. Do your research
Before you apply for any job, get your facts straight. Become an expert on the company and the markets or the sectors it operates in. If you join the board of a company, it is a big decision with legal responsibilities so back it up with as much information as you possibly can. Act as if you were about to acquire the business and make your due diligence match the investment.
6. Prepare for the interview
It is critical to distinguish between promoting yourself as an executive and a non-executive director during your interview. Although you may discuss any relevant executive management experience career during your interview, try to focus on the knowledge you have obtained, the lessons you've learnt and how you might apply these to the organisation. In general, when interviewing for a non-executive director position at a big firm, emphasise your independence and ability to challenge things positively. In a smaller organisation, they may seek a decisionmaking partner with experience and empathy.
Not every organisation looking to hire a non-executive director has a functioning board or even a chairperson. In certain cases, forming a suitable board begins with the appointment of a non-executive director. This is especially true in the small and medium-sized enterprise (SME) sector, where a foundermanaging director eventually realises they can no longer operate in a vacuum in terms of making strategic decisions. The process here may be much less formal.
7. Evaluate the opportunity
After the interview take the time to reflect on what happened and what you have learnt. What value could you realistically add to the board? Do you like the people who would be your colleagues? Could you work with them and would they listen to you? Would you be able to influence them in the way you would like? Having reviewed all of this, you need then to make the decision. Do you really want this role and are you ready to commit three years of your life to them - or more? Sometimes in major negotiations like this, the further down the track you are, the harder it is to walk away. Do not let this happen to you. Go back to the definition of the perfect role that you created at the outset and measure this role against it. Does it fit? If it does not, does it matter? Are you willing to compromise or are you in danger of taking something that is wrong? If it is wrong - walk away. Better to do that than to find yourself in the wrong environment.
8. Keep building your network
Maintaining and building relevant networks does not come easily to everyone. LinkedIn is a very powerful tool and you
can create opportunities to engage with complete strangers from the safety of your own keyboard. New directions require new networks so work out how you plan to join the circles that you would like to be part of. Opportunities generally come through people you know so make sure that you are visible and connected. Find the networking routes that suit you and your personality.
9. Stay current
Your executive role may have kept you one step away from changes in the way that business is done. There is no excuse for anyone today not to have an informed view on Social Media, understanding how it works and what value it can add to business today. Understanding technology and the impact on business, people and strategy is a critical part of anyone’s skill set.
10. Time commitment
A non-executive director invests a significant amount of time in managing the organisation. Make sure you can commit the necessary time (and a bit more) to the role.
Wishing you every success and hoping to hear that some of you are keen to join the ranks of NEDs!
