News

HWithin our HR community, there are many senior professionals who look to extend their careers and continue working, even if they’re in a position where they could comfortably retire. In my network, I’m constantly talking to people at this level who say, “I’ve got one more big role in me” or “I’m going to hang on to my position a bit longer, then get a board appointment.” Whilst it’s a great direction to want to go in, a Non-Executive Director (NED) position is never a given, especially for ASX-listed boards. Consequently, if you’re considering a NED role as an option for later in life, you need to start preparing sooner rather than later. So, how do you go about managing your career to ensure you’re ready for a board appointment when the time is right?

It obviously starts with being successful in your corporate life from a technical perspective, but it’s not all just about your successes! Building your credibility means getting the right amount of commercial exposure at the C-Suite level and having the right skill set (particularly related to financials/P&L experience) on your resume. Whilst gaps in knowledge or expertise will naturally appear, it pays to improve any weaknesses as early as possible (i.e. in the middle of your corporate HR career, rather than in your last couple of corporate gigs). Pay attention to where they are for you and focus on addressing them. If you’re looking at your professional development, the Company Directors Course – delivered by The Australian Institute of Company Directors’ (AICD) – is a must for anyone thinking about applying for board appointments.

Networking is also an essential factor. This means that being confident and putting yourself out there (and being ready for knock backs), is still critical to making your move into a NED role.

From the people we’re speaking to, it’s clear that senior HR professionals are looking to stay in the game much longer, and as a community we need to make the most of this expertise. If this is the direction you’re heading, I’d suggest starting small – look out for NED positions with Not-for-Profits or smaller businesses, which can provide you the exposure you need whilst giving you the platform to add genuine value. Above all, remember it’s never too early to start preparing – by the time you get to your last corporate role, it’s often too late.

In addition to adapting to changing HR trends, we also need to become more aware of government regulations and how they’ll affect current operations. For example, changes to legislation in healthcare and finance may have a significant impact on HR, so it’s vital that companies are up-to-date and prepared to make changes in response.

Have you recently stepped into a NED position? We'd love to hear your thoughts on the transition, and any challenges you’ve faced in the process!