When you start your journey as an entrepreneur, you have a vitality that makes you believe that you can do all the things on your own no matter what happens. When things become complicated and your workload increases, you start building up a team of directors loyal to your organization. But, a time arrives when you think that something is missing, and you can do a lot more than just take the opinions of your existing board of directors. One day, having the opportunity to include fresh ideas and people crosses your mind. You hear the term ‘Independent Director‘for the first time.
Has this day arrived in your journey of entrepreneurship? If yes, there is nothing unusual. Businesses and organizations can thrive only when they give space to new ideas and new individuals. However, it is also not easy to add new permanent directors. Thus, we offer you the choice of finding people who can act as a director of your company and at the same time stay independent. If you find the idea contradictory, it is better that we first make you familiar with the term before telling you why you should hire one for your organization.
What Exactly is an External or Independent Director of a Company?
External directors are members of the team of your board of directors who have been hired for the company’s specific needs. They give their opinions in the board meetings, suggest ideas for the organization’s growth, try to provide solutions to the existing problems, and do many other things.
However, what makes them independent is that they do not have any material relations with your organization other than the remuneration they get for the post. They are also not involved in the day-to-day activities of a director and do not perform any other executive tasks. For this reason, they are also referred to as non-executive directors.
Why You Should Recruit an Independent Director
The corporate world is buzzing with the term independent or external directors. If you are looking to expand your team of board of directors and are still confused between independent and non-independent directors, here are a few reasons why choosing the former can prove to be a better option.
1. They Will Always Be Impartial
Corporate life is not free from partiality and vested interests. Inboard meetings, the organization’s interests take a back seat when members who are partial and have material interests start influencing decisions. But external directors stay impartial and vouch for only what is best for the company as they have no material relations with its management. They will also not be favoring any other board members.
2. They Bring Fresh Ideas
When a company becomes old, doors might get closed for fresh ideas from the top leadership. It is because the same people have been making decisions, and it is normal for their ways to become old. With a new external director, you find someone who brings along new ideas that can help grow your organization.
3. Independent Directors Bring Loads of Experience
The best thing about these professionals is their level of experience and expertise. And if your organization is in its nascent stage, these two things can prove the most beneficial aspects. They can help groom the CEO and management to take on challenges they will face in the future.
Find External Directors With Faster Landings
These directors are the best way to gather subjective and unbiased opinions about how your organization works. You can include them in your team and gain a lot from their experience and skills. You need to find someone in the corporate industry who has what it takes to deliver the best results. With Faster Landings, you can get highly qualified Independent Directors for your company who knows how to add wings to your organization’s growth. Reach out to us to learn more.