Business leaders are backing a global trend and introducing independent advisory boards to help shape…
Advisor Engagement Market Rate Analysis 2020 Benchmark Report Released
The Advisory Board sector is growing and maturing as more organisations look to leverage flexible and scalable governance structures and quality insights to support their strategic objectives.
According to the Advisor Engagement Market Rate Analysis 2020 – 2021 Report released by the Advisory Board Centre, Advisory Board professionals are dedicating an increasing amount of time within their portfolio of work to formalised Advisory Board engagements. On average, Advisory Board roles account for 30% of a portfolio of work for professionals.
According to report author and Advisory Board Centre Founder and CEO Louise Broekman, the overall growth and development of the Advisory Board sector will continue to increase the demand from organisations for talent.
“Advisory Boards are a valuable structure to support organisations to gain insights for today that can significantly change the trajectory of their business in the future. To do this requires a combination of a strong, best practice foundation to the Advisory Board structure and Advisors that have the ability and desire to help drive strategic foresight discussions that truly add value and impact to the organisation.”
The report found that for commercial advisory engagements, variability of investment by organisations in their Advisory structure has reduced compared to the 2019 – 2020 report.
The report surveys global Advisory professionals to gain an understanding of how they are structuring their Advisory engagements, their rates structures and portfolio mapping.
While virtual meetings were already commonplace in many Advisory Boards, current travel restrictions have shown that many organisations are now even more accepting of accessing talent from other locations.
“The current COVID operating environment has highlighted an issue that has existed in organisations for many years. The rate and pace of change, coupled with an uncertain operating environment, means that it is almost impossible to have internal mastery. Highly competitive and robust organisations of all sizes that invest in developing a strong, global network of diverse skills to support and inform their Owners, Executives and Directors are more agile, can confidently make decisions at speed while accommodating for risk,” said Broekman.
The Emerging Industries sector, including cutting edge technologies such as renewable energy, AI, robotics and tech-enabled businesses, is highly active in engaging Advisory Boards.
The Advisor Engagement Market Rate Analysis 2020 – 2021 Report is an annual benchmark report provided exclusively to professional Advisory Board Centre members.
For more information on the report, or to learn more about independent, formalised Advisory Boards for your organisation contact firstname.lastname@example.org .