Searching for a Board Position: Things to Know and Strategies to Help
If you are contemplating serving on a board, it is important to understand the different types of boards of directors, their structures, their roles, and how to locate opportunities.
Things to Know:
Serving on a board of directors can provide several professional and personal benefits and may be a natural next step for executives in their careers. However, serving on a board of directors is not a passive job; it requires commitment, hard work, and responsibility. The benefits should be balanced with the responsibilities that come with it.
This comprehensive guide outlines these benefits and shares a breakdown of board types, structures, roles, and responsibilities. Learn more about board compositions to better identify which role and type of board may be a good fit for you and your leadership skills.
For example, different types of companies will have different structures of their boards. Some may have independent directors, while some may not. In publicly traded companies, there is often a separation of power between the board and management, with the board serving as a checkpoint on the work of the CEO and other senior executives. Would this be a good fit for you?
Strategies to Help:
Before committing to a board search, it is important to understand board requirements and desired skills. You must also understand your own value in relation to these operations. Are you prepared to demonstrate a clear alignment between your offerings and board requirements? You must.
This guide overviews the most common skills that boards desire, how to contemplate your offerings in relation to their needs, ways to boost your skill sets, and the best methods to search for positions.