Technology leaders explain how to become an NED
Today, the importance of technology in every business is obvious. It can help reach new markets and customers, improve processes, provide crucial data for decision making, and deliver revenue-generating products for tech and non-tech companies alike. Because of this, more than ever, technology leaders are ideally placed to take Non-Executive Director (NED) roles on boards looking for transformational leadership.
But how do you become a NED? InX recently spoke to tech leaders who are NEDs alongside their full-time role or have developed a full NED and advisory portfolio. Here’s their advice:
One - Constantly connect
“It’s your personal network that’s probably the most important thing – making sure you’re well connected and networking to be best placed when opportunities come up.” Dave Roberts, Global IT Director, Stantec
The relationships you build during your career are key to landing non-exec and advisory roles. It’s about being in the circles where you want to find yourself in the future. By making contacts among CEOs and chairpeople, you’re putting yourself in the shop window. Joining a board also means you’re growing your non-exec network, which will help you secure future opportunities. As well as potential employers, it’s important to maintain good relationships with the people who can connect you to them. Speaking regularly to top head-hunters who you trust will ensure you’re front-of-mind when any suitable NED roles come onto the market.
Two - Get a seat at a different table
The jump to a board-level position can be daunting when you’re not sure where to start. Take every opportunity to build your experience of the kinds of situations you’ll find yourself in as part of a board. What happens in a boardroom? How do they react to a crisis? How do you need to operate as a part of the discussions? Becoming a trustee or governor for a charity or school is, in many ways, an entry level non-exec role. This will help you gain the confidence and skills you might need on a board. Although some organisations won’t view a position with a small charity as being equivalent non-exec experience, the knowledge you’ll gain is invaluable. It’s all part of the learning process.
Three - Understand your worth
“It’s better to be famous for something rather than just being famous – but who do you want to be famous with?” Adam Banks, independent non-executive director
It’s not just about what you want out of a non-executive director role, but what you can provide. There needs to be a mutual benefit. When you’re looking for roles, consider companies who could use your specific skills and experience. Look at what you’ve achieved and think about what you can bring to the organisation, whether in an advisory or non-exec capacity. For an opportunity to be right for you, there must be an intersection between your particular skill set and the company’s needs. While you’re there, you’ll gain vital experience that prepare you for other NED roles, as they come up.
Four - Get your hands dirty
“Some tech leaders view a portfolio NED career as a route towards semi-retirement. Beware: it’s hard work, takes time and effort, and is highly competitive. Boards expect NEDs who are at the top of their game and bring current, valuable experience. You’ll need to continue to stay ahead of business and technology trends and be committed.” Natalie Whittlesey, Director, InX
Achieving a NED role might mean that you’ve reached an advanced stage in your career, but it doesn’t mean that it’s time to take it easy. As well as investing a lot of effort into the opportunity, you’ll need to genuinely care about the company you’re working with and immerse yourself in its activity, whether that’s spending your weekends reading board papers, going to board meetings, or helping in emergencies. Getting involved in these conversations will also help you gain a broader commercial and strategic skill set and awareness, which will position you more favourably for future opportunities.
Five - Get ready to juggle
“Take on something you’re interested in. You don’t want to read hundreds of pages on banking regulations if banking regulations don’t float your boat.” Nadine Thomson, Global Chief Technology Officer, and Executive Consulting Lead, MediaCom
Be under no illusions – it’s not easy doing a NED role alongside a permanent role. Some organisations aren’t keen on their execs being involved in NED opportunities, so if you’re thinking about accepting a non-exec role, make sure you clear it with your regular employer first.
Before you take on the role, agree how much time you’ll be committing weekly or monthly, so you’re setting the right expectations from the very start. Make sure you carve out the time required to perform the NED role but also to deliver on your day job. Many NEDs achieve that balance by taking on only one NED role alongside their leadership positions – but do think about what works for you, personally. Being a NED can be a hefty commitment, so it helps if you enjoy what you’re doing.
Six - Know what you’re getting into
“These roles can come in various shapes and sizes, so understand what responsibility you have and what you want, then take a big, deep breath. Know exactly what you’re going into before you sign on the line and get started.” Robin Young, NED and advisor specialising in operations, IT, digital transformation, and cyber security
As with any new exec role, you’ll need to research the opportunity. Understand the culture and finances of the company you’re going into, and, crucially, your legal liability, which will vary depending on the nature of the role. In some non-executive director roles, you’ll be paid less than an executive and carry more personal responsibility. In a start-up, you’ll have more of an advisory role than a legal non-exec, but you’ll be closer to its day-to-day operations. The role you take will depend on how much you want to be involved – particularly if things go wrong.
A nod to becoming a NED?
For organisations and their people, hybrid working has been a boom to non-executive director roles. Companies need more tech expertise at board level whilst hybrid working lends itself to people who want to prioritise life over work. Being a NED gives you the opportunity to use your critical skills and develop new ones that together can make a genuine difference to an organisation.
Interested in becoming a NED? Get in touch with Matt Smith. He’d love to discuss your current situation and what you could potentially gain from being a non-executive director.