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Board recruitment - Coggle Diagram
Board recruitment
Board induction
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Can transform into part of an ongoing mentoring or coaching relationship that is focused not just on providing task knowledge of governance, board and committee process and risk that the board thinks the new director needs to know but also on supporting the more behavioural, emotional, motivational, relational and resilience aspects of what the new director uniquely might want and need
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A more systematically orientated induction will include a focus on building relationships with key board stakeholders
FRC guidance recommends
parterning a NED with an ED may speed up the process of them acquiring an understanding of the main areas of business activity, especially areas involving significant risk
The 2017 ICSA report suggests two broad approaches a board could consider to take the stakeholder perspective into account when deciding on the recruitment process
Reserve one or more board positions for directors drawn from a stakeholder group such as the workforce
To extend the selection criteria and search methods for NEDs to identify individuals with relevant experience or understanding of one or more stakeholders groups
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What process is chosen will very much depend upon the talent management perspective that an organisation has
The charismatic talent management process will therefore likely include using existing senior and board level contacts and networking will fellow education alumni as a way to search for prospective candidates
It may the involve initiating a standard selection process involving unstructured interviews that do not account for potential unconscious bias
Director talent is identified through showing competence in current best-practice knowledge, skills and personal attributes and the nomination committee's awareness of these competencies enables them to establish new director profiles and search for prospective candidates through a much broader range of mechanisms than just the demographic echo-chamber of personal contacts, potentially to include agencies and formal advertising
After identifying and shortlisting potential directors, the committee will engage in a due diligence process which may involve matching a candidate's competencies against the director profile competency matrix.
Candidates will then be approached and asked to complete a competency-based interview - there is also the potential for a significant vetting process which may include detailed CV checks, reference checks, professional background checks, personality profiling (in particular the Hogan derailment profiles) and multiple interviews in different settings
Once candidate suitability is confirmed, they can then be nominated for election and appointed. This is likely to lead to a board director having the potential to be both highly expert and empathetic and who can therefore become a valued and cohesive team member
Adding in some leading-edge recruitment methodologies such as using blind applications, social media and digital data assessment and being interviewed by/meeting a variety of key stakeholders beyond the nomination committee or their future board peers as part of the selection may enhance the systemic nature of an effective board director recruitment process