Increasing NextGen Representation
The ability for industry, government, academia and corporates to access a qualified talent pool of NextGen’s for participation at a board level including committees, panels, advisory and governance boards is critical in today’s economic, social and governance context.
A portfolio-style career is attractive to many younger professionals. It allows them to engage at a very senior level with organisations in a board or advisory capacity via flexible arrangements that are supportive of other personal and professional commitments.
GROWING NEED FOR DIVERSITY ON ADVISORY BOARDS
In our latest State of the Market Report, our research found a distinct shift in how professionals are seeking to engage at a board level with an increasing move away from traditional governance board and director roles into advisory boards. Since 2019, the number of advisory boards globally has grown by more than 52% in two years.
Advisory boards value diversity of thought and perspective and can only be truly represented by people from diverse backgrounds. However, NextGen is underrepresented, comprising just 33% of qualified advisory board professionals. Embracing NextGen into modern leadership will enhance the impact of greater diversity on strategic decision-making.
The NextGen Initiative effectively addresses this increasing requirement for young leaders to participate at both the executive leadership level and at the boardroom table.