Recently CTPartners released the latest report in the Firm’s Trend Talk series: Digital Expertise in the Boardroom. Following is an excerpt.
One of the most sought after credentials for corporate board members today is digital expertise, and there should be no mystery as to why that is the case. Only a few years ago, companies would have considered just a narrow range in which they might deploy digital technology to build their businesses or solve business problems. Yet today, digital technology is being utilized across a much larger swath of business areas and initiatives, with objectives that include customer engagement, cost reduction, product development, and increased productivity, to name a few.
And while many companies have been beefing up their management teams with digital experts for a number of years, many still lack digital orientation and know-how on their boards of directors. This makes it difficult for a board to fully participate in strategic discussions regarding the opportunities presented by digital technology and digital-based services, or even ask senior management the right questions.
Given the broad business impact of digital technology today, it seems clear that demand for directors with such knowledge will only increase in the future. Identifying leaders with digital expertise for board roles is not as simple, however, as tapping a programming whiz to run software management or product. Board roles demand accomplished leaders who have the depth of experience, operational understanding, strategic business insights, and gravitas to provide strong leadership and influence on digital matters addressed by the board.
Marc Gasperino, Managing Partner and Global Head of CTPartners’ Digital Practice, notes that businesses of all sizes are trying to gain an edge by improving their digital footprints. “Whether it’s through the improvement of online channels and mobile platforms, the expansion of brand presence and awareness through social media platforms, or an overall emphasis on customer experience and satisfaction, digital executives who understand how to swiftly implement and execute such strategies are in high demand and there is a low supply. Getting the right one to join your board isn’t easy.”
A seasoned board search partner with an extensive global network and deep knowledge of the digital leadership talent pool can be an invaluable ally in identifying the right kind of potential board leaders with depth in digital, as well as an ability to serve effectively as a director.
To read the full CTPartners report, visit: http://www.ctnet.com/TheFirm/TrendTalks/