PwC finds UK non-executives are busier than ever

Nobody doubts that non-executives directors are busy people. According to research by the accountants at PricewaterhouseCoopers, their busy now even if they're serving on fewer boards. Regulatory requirements mean their time commitment has grown by 20 per cent in the last few years, while their fees have changed very little. Nonetheless, 63 per cent found the role more attractive. These gluttons for punishment may be enjoying – if that's the right word – the task of working their way through the most difficult economic circumstances in decades. PwC asked 110 non-executive directors and company secretaries from the top 350 companies for their experiences and opinions. They found:

• Committee duties: The biggest burden on regulation has affected the chairman of the audit committee, according to almost half the respondents. Remuneration committee chairs come a close second.
  
• Obstacles: The list of difficulties associated with the job is topped by regulatory requirements, but it includes lack of time for debate, uncooperative executive directors and a lack of information.
  
• Executive pay: Remuneration committees face their biggest difficulties in determining how to create the right target, aligning them to strategy and then designing the right incentives. No surprise there.
  
• Director fees: None of the respondents thought non-executives were paid too much. No surprise there, either. A bit more than half thought non-execs were paid well enough, though.
  
• Board evaluation: 90 per cent of the top 100 companies had annual board evaluations; 79 per cent of the next 250 did. Almost everyone thought they were useful.

"While the economic outlook is still uncertain, many companies have emerged from the crisis in relatively good shape and are ready for the upturn," PwC said. "The fact that so many companies survived and are generally well governed is often overlooked by the critics of the current board structure, who call for increased regulation and compliance."

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