The Top Workplace Trends of 2018

By Team NEDonBoard

Predictions by Ian Lloyd, Director at Vistage UK.

  1. Human interaction is back- the link between positive working relationships and increased collaboration and job satisfaction is nothing new. Look at Apple’s new facility and Google Cafés as examples of what’s possible when people stop emailing and start talking. While technology can make us more efficient we believe more companies will put greater emphasis on F2F meetings, phone calls and video conferencing.
  2. Employee burnout- Employees are working longer hours and the pervasive influence of technology is leading to longer working days and significantly decreased amounts of down-time. A 2017 study by Kronos and Future Workplace blames burnout on up to half of companies’ annual workforce turnover.
  3. Networks rather than silos- smart leaders are realising that dividing their organisation into functional areas of expertise (i.e. silos) does nothing to promote team working or strategic thinking. Getting good people together to work cross-functionally requires different thinking and training but the rewards can be massive. This is also reflected in the boardroom with increasing emphasis on developing boards composed of board members with diversity of skills and expertise.
  4. Personalised Learning- catering to an individual’s pace, style and goals, and breaking learning down into short, digestible chunks …read more

    Read more here:: The Top Workplace Trends of 2018

Highlights of the NEDonBoard Conference: Insights shared with our audience

By Elise Perraud

On 20th March, NEDonBoard hosted its annual conference, Tomorrow’s Business: Tomorrow’s Board. In this article, we are sharing some of the insights given by our outstanding speakers and panellists: Jeremy Small, Anna Marks, Dr. Yvonne Thompson CBE, Gillian Karran-Cumberlege, Elisabeth Stheeman, Jemima Coleman, Neil Sinclair, Abeed Janmohamed and Sharon Constancon.

For those who attended the conference, we encourage you to share with us and with your network what you took away from our keynote speakers and empowering panellists. We are looking forward to hearing from you!

For those who could not attend our event, we have summarised a few highlights for you:

  • NEDonBoard’s mission is to serve the non-executive director (NED) community, raise the standard of NEDs in the UK, champion the NED role and be the voice of NEDs in the UK.
  • Audience and speakers. The event was attended by aspiring or already appointed NEDs and employers looking for NEDs.
  • Effective Corporate Governance goes beyond the Company Act and the Corporate Governance Code. Critical factors contributing to effective corporate governance include behaviour, culture, skills, experience and integrity.
  • The non-executive director should focus on directors’ statutory duties and monitor thoughtfully. The NED is a “sceptical friend”, not a “critical friend” and plays a vital role …read more

    Read more here:: Highlights of the NEDonBoard Conference: Insights shared with our audience

Diversity Matters in the Boardroom

By AlexTrif

Today, NEDonBoard is hosting its annual conference, Tomorrow’s Business: Tomorrow’s Board. In organising the conference, we made the choice to feature a Culture and Leadership panel to discuss once again the importance of achieving diversity in the boardroom. Diversity takes many forms and UK boards have room for improvement to achieve broad representation in the boardroom in terms of gender, ethnicity, education, social background, experience, behaviour and age.

Progress to achieve better representation of women in the boardroom are tangible but more needs to happen

Representation of women on corporate boards has increased. The Hampton-Alexander Review published in November 2017 reported that in 2016 women represented 27.7% of FTSE 100 boards compared to 26.6% the year before. Over a third of the FTSE 350 are already at 33% or more, or ‘on track’ to do so by 2020.
On 2nd February, the London Stock Exchange opened, lauding the increase in the members of the 30% Club. The 30% Club UK now counts 27 members, which have £10.5TR of assets under management. New members include Blackrock, JP Morgan Asset Management and Standard Life; they will be voting against boards that fail to appoint more women. This is good news.
But as this year’s International …read more

Read more here:: Diversity Matters in the Boardroom

Our Response to the FRC Consultation and How Our View Might Differ From Other Contributors

By Team NEDonBoard

On 5th December 2017, the Financial Reporting Council (FRC) published proposals for the latest revisions to the UK Corporate Governance Code (Code). The Consultation period ended on 28th February and the FCR received over 250 responses from various parties. NEDonBoard sent its response on 27th February on behalf of its members and the community of non-executive directors and board members.

Director independence and tenure limit

Proposal around director independence is one of the most contentious point. The proposal aims at ensuring effective succession planning and proper composition of board.

  • The introduction of the 9-year tenure limit for independent chairs and directors is one of the most controversial point as it will prove problematic for a large number of listed companies. The FT reports that Aviva is happy for the proposed 9-year tenure limit to apply to non-executive directors but not to chairs while the International Corporate Governance Network expressed concerns around the rigidity of the definition.
  • NEDonBoard welcomes the introduction of tenure limit. We consider that independence and the promotion of a new generation of decision-makers in the boardroom are essential and we advocate for a 7-year tenure limit. The tenure limit should apply to all non-executive directors and most importantly …read more

    Read more here:: Our Response to the FRC Consultation and How Our View Might Differ From Other Contributors

NEDonBoard: “Happy International Women’s Day in the Boardroom”

By Rachel

Women's Day - NEDonBoard

We truly appreciate just how much more effective better-balanced boards are thanks to the many inspiring women we have worked with, including our outstanding advisors and our remarkable NEDonBoard community members.

Inspiring women in the Board Room

For example, FTSE 250 NED Anne-Marie Durbin, spoke with us during an interview addressing questions around boardroom culture, the positive and negative factors relating to engagement in the boardroom and where new non-executive directors often go wrong.

This month we are also looking forward to hearing insights from Elisabeth Stheeman, experienced FTSE 250 Non-Executive Director, further exploring this important topic – Leadership and Culture: Empowering Women and Diverse Boards. Increasingly regulation (including the FRC’s Corporate Governance Code) and boards are considering the benefits of diversity on boards – but what does this look like in practice and how do you empower individuals on a diverse board? As business leaders, we can all benefit from discussions around effectively engaging with our fellow board members….be they men, women, from the LGBT community, of different ethnic backgrounds and cultures, generations, or with different expertise and perspectives. If not already done, you might register …read more

Read more here:: NEDonBoard: “Happy International Women’s Day in the Boardroom”

NEDonBoard’s Response to the FRC Consultation on the Revised UK Corporate Governance Code

By Team NEDonBoard

Introduction

The FRC has invited interested parties to respond to the Consultation by Wednesday 28th February. NEDonBoard has coordinated a response on behalf of its members and its community. NEDonBoard focused its response on Part 1 of the consultation related to the UK Corporate Governance Code and Guidance on Board Effectiveness Questions. We acknowledge that the FRC will publish on its website the responses it receives to the consultation.

UK Corporate Governance Code and Guidance on Board Effectiveness Questions

Q1. Do you have any concerns in relation to the proposed Code application date?

NEDonBoard: NEDonBoard has no concerns with regards to the proposed application date.

Q2. Do you have any comments on the revised Guidance?

NEDonBoard: NEDonBoard has no comments on the revised Guidance. The Guidance document is well written and the “Questions for Board” section is particularly useful for aspiring and newly appointed non-executive directors and board members.

The Guidance places greater emphasis on stakeholders than the Code, which NEDonBoard views positively.

Q3. Do you agree that the proposed methods in Provision 3 are sufficient to achieve meaningful engagement?

NEDonBoard: NEDonBoard considers that the three proposed methods are sufficient. We note that the non-executive directors should meet the criteria of independence. As a side note, …read more

Read more here:: NEDonBoard’s Response to the FRC Consultation on the Revised UK Corporate Governance Code

NEDonBoard’s Response to the FRC Consultation on the Revised UK Corporate Governance Code

By Liv Noble

Introduction

The FRC has invited interested parties to respond to the Consultation by Wednesday 28th February. NEDonBoard has coordinated a response on behalf of its members and its community. NEDonBoard focused its response on Part 1 of the consultation related to the UK Corporate Governance Code and Guidance on Board Effectiveness Questions. We acknowledge that the FRC will publish on its website the responses it receives to the consultation.

UK Corporate Governance Code and Guidance on Board Effectiveness Questions

Q1. Do you have any concerns in relation to the proposed Code application date?

NEDonBoard: NEDonBoard has no concerns with regards to the proposed application date.

Q2. Do you have any comments on the revised Guidance?

NEDonBoard: NEDonBoard has no comments on the revised Guidance. The Guidance document is well written and the “Questions for Board” section is particularly useful for aspiring and newly appointed non-executive directors and board members.

The Guidance places greater emphasis on stakeholders than the Code, which NEDonBoard views positively.

Q3. Do you agree that the proposed methods in Provision 3 are sufficient to achieve meaningful engagement?

NEDonBoard: NEDonBoard considers that the three proposed methods are sufficient. We note that the non-executive directors should meet the criteria of independence. As a side note, …read more

Read more here:: NEDonBoard’s Response to the FRC Consultation on the Revised UK Corporate Governance Code