Changes in the business environment made it more difficult for search committees to build a board with the right skills, according to the Association of Executive Search Consultants’ 2014 BlueSteps Board Director Career Survey.

Demand is increasing for board director candidates with sector-specific and function-specific expertise, especially in the areas of technology and financial services.

“Boards can no longer rely on the old boys network or ‘friends of the chair’ to fill what have become critically important positions,” said Peter Felix, AESC & BlueSteps president. “As the role of the board director comes under increasing scrutiny and the prudential burdens upon directors grow, it is incumbent upon chairs of boards and chairs of the nominating committees to be fully knowledgeable about the competencies, behaviors and motivations of their board members. The board must reflect the challenges of the environment and the skills required to address them.”

The survey found the most-needed skills for today’s board director candidates include:

• Strategic thinking: 85.4 percent
• Leadership/management: 48.8 percent
• Interpersonal/communication: 42.7 percent
• Financial: 26.8 percent
• Sector knowledge: 26.8 percent
• Decision making: 25.6 percent
• Technology: 11.0 percent
• Mentorship: 11.0 percent

Technology/telecoms was the most in-demand sector background for board director candidates with 56.4 percent, followed by financial services and healthcare/life sciences with 52.6 percent and 30.8 percent respectively.

The 2014 BlueSteps Board Director Career survey was conducted in May 2014 and included 107 responses from board directors across the world.