In this article, NEDonBoard explains how to become a non-executive director (NED). We also answer frequently asked questions about the role and importance of NEDs and outline the advantages of fast-tracking your NED ambitions with the NED Accelerator Programme.
What is a non-executive director?
As a non-executive director or NED, you will sit on the board of a company but will have no daily management or operational responsibilities within that business. You will ordinarily be appointed by letter for a NED role based on your experience and expertise. Your role is to act as a “critical friend”, which means providing both scrutiny and mentorship to the CEO and their senior management team. You will be an independent voice in the boardroom.
Related post: Who can be a non executive director?
How much is a non-executive director paid?
You will be compensated for your input as a NED according to the amount of time your spend discharging your duties, the complexity of the issues you deal with, and the size of the organisation in question. As a general rule of thumb, remuneration for non-executive directors can vary from a threshold of around £20k for NEDs appointed to the board of an SME to upwards of £80k for NEDs of FTSE 100 companies.
Related post: What can you expect as compensation for a non-executive director role?
Why are non-executive directors important?
Non-executive directors are important because of the impartiality that they bring to boardroom discussions. As a NED, you will be expected to demonstrate a high degree of independence and autonomy to hold the decision-making of the executive directors to account. As well as offering your expertise and valuable insights, you will need to be fully conversant with the multitude of risk and compliance issues that are commonplace in modern business.
That is because UK law does not distinguish between executive and non-executive directors. All board members have the same duties and responsibilities, which makes becoming a NED a serious undertaking. However, that should not blunt your ambition to become a non-executive director. With diligence, application and support from NEDonBoard and our wider NED community, you can take your place at the boardroom table with confidence.
How do I become a non-executive director?
Becoming a non-executive is made easier and quicker with the NED Accelerator Programme® from NEDonBoard. Our online training programme will fast-track your boardroom ambitions, providing the knowledge, skills, tools and strategies you need to secure interviews and execute your NED duties effectively. A comprehensive 100% of our course graduates told us they were confident that the NED Accelerator Programme would move their career forward.
As the professional body for non-executive directors and board members, NEDonBoard knows what it takes to reach the top. We have distilled all of our experience and expertise into the NED Accelerator Programme to bring you the UK’s premier NED course. Learn at your own pace with more than five hours of insightful videos, covering everything from boardroom liabilities to proven strategies for securing your first NED role.
The NED Accelerator Programme includes a wealth of useful resources, including downloadable summary sheets, high-impact NED CV template, and the instructive guide “What to Expect of the NED Role”. Furthermore, on completion of the programme, you gain an industry-recognised qualification awarded by NEDonBoard, as well as CPD credits. All that will be left to do is to become a NEDonBoard member to gain access to our jobs board, networking events and peer support from our inclusive NED community.
For more information about the NED Accelerator Programme or NEDonBoard membership, please contact NEDonBoard on +44 (0) 208 1 333 220 or email [email protected]