Vol 10 Issue 8
- Date:02 May 2012
- Type:Boardroom Report
Unlocking hidden networks
More than half the directors participating in a recent survey cited not knowing the "right" people in what could be described as "a hidden network" as the biggest barrier for those looking to start their directorship careers.
The Emerging Directors survey, conducted by the Australian Institute of Company Directors across four Australian states in November 2011, drew over 1,500 respondents, almost 72 per cent of whom already had at least one board position.
Increased scrutiny as a result of new executive pay laws and the Centro court case are placing increasing strain on remuneration committees and could put upward pressure on their directors' fees, warns Ben Morris, the head of Hay Group Australia's executive reward practice.
The Australian Institute of Company Directors has welcomed draft Federal Government legislation making the governance of superannuation funds more transparent, but says more reform is needed.
Research by Perpetual has highlighted several opportunities for charitable not-for-profits (NFPs) to boost their board effectiveness through improved board member selection and review processes.
Collaboration and teamwork have become qualities we expect from modern executive teams and boards of directors, especially as the issues they deal with become more complex.
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