Today's corporate directors have various options when it comes to their own professional development and performance effectiveness. Typically, directors' options include: Directors' Colleges, participating in company training, or seeking expensive consulting from outside professionals. The investment is often substantial for these types of development options: Why invest the time and money for programs with cursory, finite, and invasive outcomes?
Quick Facts: A look at Director Recruitment & Performance*
- American companies hold an average of eight board meetings a year. This number does not include telephonic meetings.
- For these meetings, board members are spending twice as much time to prepare as they did 20 years ago.
- 63% of board members surveyed say they spend on average 10 to 20 hours per month on board related matters for each board they serve on.
- Personal risk is the primary reason, potential board candidates refuse a board position.
- 55% of current board members indicate that it is more difficult to recruit high-quality directors.
- 80+% of board appointments are made through formal searches via contracts with professional organizations.
*Source: 34th Annual Board of Director Study, Korn/Ferry International, 2007
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