IoD to strengthen NED register
22 October 2007
IOD to strengthen NED register
ONE YEAR on since the launch of the joint IoD/OSA Recruitment initiative and it has proved to be a successful development. The scheme is now an established register for independent Non Executive Directors and a valuable resource for the island’s businesses.
OSA Recruitment’s Managing Director Nick Graham commented: “We now have approximately 90 individuals registered and available for potential NED assignments, creating a comprehensive resource of diverse skills and experience. In addition, we have been successful in completing several assignments as ‘hirers’ recognise the benefit of good corporate governance and strategic direction through the knowledge and experience of professional NEDs.
What we need to develop over the next 12 months is greater commitment from those "hirers" who are looking to recruit a NED. The fact that this is a completely free service (both to the hirers and the applicants) means there should be no obstacles in achieving this commitment."
"To date more than half a dozen successful placements have been made with candidates from the register, across captive insurance, funds, banking and a family business. However, to gather momentum we need to increase the depth to the register. We are looking to register more members with a diversity of skills thereby providing greater choice to the hirer to find and employ the best talent. Furthermore we need greater acceptance from businesses that appropriate corporate governance should promote diversity on a Board"
Carol Goodwin of the local IoD Committee believes that “Building better boards means companies spreading their nets and trawling for new recruits wherever people with the skills, knowledge and experience or background they need might be available. More diverse boards require more diverse sources of supply.
Boards that include directors with diverse skills and experience have the scope to consider a wide range of perspectives, and generate richer, more informed discussion of the issues facing the company, and are more likely to anticipate problems and produce high quality solutions when they arise
Feedback from recruitment experts and companies suggests that there is no shortage of people with the necessary talents but that there are barriers, real and perceived, to more diverse recruitment. The composition of boards is changing - the UK, as a nation, is not making enough use of the available talent. Neither is Guernsey – we need to do better!”
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