In the quest for new skills and more diverse membership, boards are increasingly open to taking on first-time directors. This article explores the implications of this trend, from the qualities expected of first time-directors to how they are identified, evaluated and onboarded.
Board chairmen and heads of nominating and governance committees, particularly those leading strong and competent boards, are starting to think more broadly about what makes a good board member and are increasingly open to appointing first-time directors. They may do so for a variety of reasons, for example, to correct a gender imbalance or create a generational shift; to bring in an expert on digital, social media or consumer behavior; or to hire someone with experience in a specific geography.
In Europe, the vast majority of first-time directors are women, due to the plethora of legislation and targets adopted at the national level to increase the presence of women in the boardroom. In the U.S., the picture is different. Although around one third of new directors are joining their first board, diversity is not the main driver. The recruitment of these new directors is mainly about bringing specific skills and knowledge to the board.
See full Article: https://www.spencerstuart.com/research-and-insight/recruiting-the-first-time-director-in-greater-china
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