The combination of a company’s strategic and board succession plans can be a framework to begin the conversation around director search.
Directors and management will most probably have differing ideas about what skills and experience should drive the search for the next director.
To focus the conversation at the nominating committee level, here are a few approaches that can be verbalized:
The Forward-Thinking Approach
Anticipated needs based on the strategic plan and how to advance the company to the next level, or assist the company in strategic choices on the horizon.
The Spot-On Approach
Anticipated needs based on a specific problem the company is facing.
The Diversity Approach
Anticipated needs based on a multi-gender, multi-talented, multi-ethnic, multi-generational, or multi-national focus.
To be the most effective at this stage of the search, an in-depth conversation to vet and define the approach will drive an effective search process and identify the critically important leadership talent needed.