What kind of board should you build for a growing business?

This guide is to help anyone who is building a board of directors for a growing business. As a business owner, you know your company can mature and expand in many ways, depending on your industry, your funding, and the products you have to sell. Another factor that can help drive growth is the skills of your board members. Finding the right board members to fuel business growth means taking a close look at the skill sets of your directors. There has been a change Between the pandemic, geopolitical crises and the rise of AI, it’s easy to see how this decade is dramatically shifting the way we do business. Companies' priorities have changed. When thinking about business growth, the skills they want at the board level have changed too. In an interview with CGI, board recruitment expert David Schwarz said demand had shifted away from traditional corporate governance and towards adaption. “In the past, finance, audit risk, and legal were the three most requested skill sets at the board level,” he said. “But the percentage of those people on boards is decreasing, and replacing them are HR, marketing, IT, change management, and general industrial senior leadership experience.” In short, companies realise that to grow; they will likely need fresh talent at the highest level. What new skills do boards want? The short answer is anything that will help a company conform to the new normal and embrace the attitude of adaptation . The most in-demand skillsets are: Environmental, social and governance (ESG). It’s probably the hottest topic in corporate governance. Green initiatives, employee welfare, governance integrity - all, and much more, fall under the ESG heading. Companies want experts on their boards who can navigate this topic, which is why it’s such a valuable skill. Anyone new to ESG can always think about getting qualified. Digital transformation. The pandemic has thrust countless organisations into the digital age from which we'll likely never return. More businesses work online now than ever before, but the skills gap is very present at the top. A recent Corporate Governance Institute survey found that two thirds of board members don't feel they have the confidence to handle new tech properly. That's worrying and speaks volumes to the challenge lying ahead. Diversity and company culture. Changing attitudes and new laws are forcing companies to rethink their treatment of employees drastically. Are the right equality policies in place? Are multiple viewpoints recognised? Do workers have a way to voice their concerns? Risk management. New trends and fresh ways of working bring unknown risks. That’s not automatically bad, but it can become bad if a company lacks the right risk management expertise. Just take AI as an example. Remember Don’t fool yourself into thinking these skill sets have replaced older trends like legal and finance. These are still important; they’re just sharing their prominence far more with newer demands. What hasn’t changed in board member recruitment? Character. Board may want new skills within their ranks, but zooming out, they are still looking for the same type of individual who can land in their role and excel from day one, fuelling growth the entire time. They want someone who has enough experience to qualify for a boardroom environment who has a strong contacts book, knows people in the industry, and networks with them for advice, partnerships, etc. who believes in the organisation, has read its mission statement and thought, ‘I’m behind this effort.’ who is an excellent cultural fit for the organisation. In summary Growth is fuelled by innovation, and that doesn’t just apply to products. Leadership needs innovation too, so it’s crucial to pay attention to the current trends in board recruitment and realise your company may need some of the newly popular skill sets.

Rapidly acquire the skills and knowledge you need to lead.

Diploma in Corporate Governance

Certified Corporate Governance Professional

Certified Company Secretary Professional

Certified ESG Professional

ESG Strategy and Governance

Company Secretary

Overview of Corporate Governance

AI Governance

CSRD Reporting

Go Further With Membership

Join the largest global educator of university credit-rated and qualified directors in corporate governance.

University partnership

Partner Network

Attend online and in-person events to get the practical skills and insights you need to make an impact as a leader.

Webinars

Masterclasses

Information sessions

Webinars

Insightful and thought-provoking content to help you become a great board director.

eBooks

Case studies

Guides

Interviews

Lexicon

News analysis

Member spotlight

Thought leadership

Podcasts

Stay Relevant With Membership

What kind of board should you build for a growing business?

About this author

Insights on leadership

Related Posts

Rapidly acquire the skills and knowledge you need to lead.

Diploma in Corporate Governance

Certified Corporate Governance Professional

Certified Company Secretary Professional

Certified ESG Professional

ESG Strategy and Governance

Company Secretary

Overview of Corporate Governance

AI Governance

CSRD Reporting

Go Further With Membership

Join the largest global educator of university credit-rated and qualified directors in corporate governance.

University partnership

Partner Network

Attend online and in-person events to get the practical skills and insights you need to make an impact as a leader.

Webinars

Masterclasses

Information sessions

Webinars

Insightful and thought-provoking content to help you become a great board director.

eBooks

Case studies

Guides

Interviews

Lexicon

News analysis

Member spotlight

Thought leadership

Podcasts

Stay Relevant With Membership

What kind of board should you build for a growing business?

About this author

Insights on leadership

Currently trending

Related Posts

85% of directors link governance failure with lack of training

Boardroom Resilience in 2026

“This paradox is alarming” New data suggests major board readiness gaps