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You have probably heard a lot of people talking about Non-Exec’s and the value they can bring to a company. You may even have considered a Non-Exec for your business or felt they are more suited to a large organisation. But what is a Non-Exec? In this article we will go through what a Non-Exec is and what you can really expect from hiring a Non-Exec whether your business is an ambitious SME or large corporation.
A Non-Executive Director (abbreviated Non-Exec, NED or NXD) is a member of the board of directors of a company or anorganisation. The Non-Exec does not form part of the Executive Management Team which means they can provide objective criticism and creative contribution.
The main difference between an Exec and a Non-Exec, and the most important aspect of the Non-Exec, is their independence of the management of the company and its ‘interest parties’, which means they can bring a degree of objectivity to the Board.
A Non-Exec is normally hired to focus on the overview of a company; the strategic direction, performance of the management team, communication and risk management, not the day-to-day operations of the company. This is to bring:
Depending on the reason for your company hiring a Non-Exec you can expect different contributions to the company. For younger companies you might be looking at a Non-Exec with business experience and someone with a proven business background and sound financial judgement. Other companies might want someone who has gone through similar situations before; whether it is an expansion, floatation, tough financial times or relocation.
The contribution is always guidance and someone to go to for advice, but it is also for useful contacts and a network that can help the company grow and make the right decisions.
If you are considering hiring a Non-Exec or would like to get a free consultation to see if your company or organisation would benefit from hiring a Non-Exec, contact us email@example.com or call Karen Calver at SG Resources directly on 07976 736622.
SG Resources offers extensive experience and expertise in providing a range of recruitment solutions from Non-Executive Directors and Executive Search (Head Hunting) to Interim Management. We have successfully worked together with a number of our clients to solve different business challenges from succession planning and supporting growth plans, to short term interim solutions. We are constantly looking for ways to enhance our services and provide innovative solutions.
One thing remains constant though, we always carefully tailor our approach to meet the needs of your business, the sector you are in and any cultural influences you may have.
We believe in a long term successful partnership, which is why it is so important to work closely together; helping you to find the best talent in the marketplace and building high performing teams to secure the success of your long-term strategies.