Since the Cadbury Report and the Higgs Report, Non-Executive Directors (NEDs) have come to play a key role in the corporate governance of companies of all sizes. A NED has the potential to make a short-term contribution to the success of the business and help guide the medium, longer term objectives of the organisation.
In our local region, Adjacency has a particular interest in helping SMEs to expand and enhance their businesses through the appointment of high calibre NEDs. As well as having the governance responsibility, they bring a highly developed commercial and strategic acumen with a demonstrable track record of success.
In this way SMEs are often able to engage talent that ordinarily, as a full time executive, may well have been impossible for them to attract to the business be it in terms of scale or affordability. Great value can be achieved from the insight of a NED contributing to the basics of a SWOT analysis and balanced scorecard.
Finding the right NED can be challenging. Most companies appointing a NED look for a track record in their market sector, or one which presents good opportunity for synergy and knowledge transfer into the company.
This isn’t always easy taking conflict of interest into consideration. What is more important is finding the balance of Board fit and an individual with the strength of character to challenge the Board on matters of integrity, compliance, strategy and being fearless in highlighting the consequences of decisions.
At Adjacency we look to deliver a comprehensive shortlist in a short timescale at an agreed fixed price for the appointment. We will already be connected with many suitable candidates or will have conducted comprehensive interviews and referenced any prospect we present to you.