Securing a position on a board, whether in the corporate or non-profit sector, represents a significant and enriching step in any professional’s journey. For career coaching clients, board service emerges as a potent Career Advancement Tool, offering a unique avenue to influence organizational governance, contribute meaningfully to communities, and elevate their leadership profile. Board membership strategically positions individuals as discerning leaders, entrusted with safeguarding the best interests of an organization, thereby enhancing their professional trajectory and opening doors to new opportunities (Blanc, 2016).
Board service extends beyond mere resume enhancement; it provides a platform for active participation in the governance, strategic decision-making, and future planning processes that shape organizations (SpencerStuart.com, 2010). For professionals aiming for career progression, board membership can be instrumental in:
- Gaining high-level leadership experience
- Sharpening strategic planning capabilities
- Expanding professional networks
- Developing financial acumen
- Enhancing visibility and professional reputation
- Creating avenues for continuous professional development
- Providing exposure to diverse perspectives and industries
- Deepening understanding of corporate governance principles
Understanding the Responsibilities of Board Membership
Serving on a board entails a significant commitment to providing strategic guidance, direction, and diligent oversight, always prioritizing the organization’s welfare, regulatory compliance, and strategic objectives. This role demands a deep dedication to the organization’s mission, proactive engagement with its challenges and opportunities, and the capacity to offer valuable insights and leadership (BoardClic.com, 2023).
Organizations actively seek board members who bring a wealth of expertise, relevant experience, and a robust professional network. The expectations and compensation structures for board members can vary significantly, contingent on the type of board and the organization’s nature.
- Corporate Boards: These boards govern publicly traded and private companies, with members responsible for overseeing strategic direction and corporate governance. Compensation typically includes annual retainers, stock options, and deferred stock.
- Non-profit Boards: Members of non-profit boards are stewards of the organization’s mission, strategy, and financial health. They ensure resources are ethically and efficiently managed. These positions are usually uncompensated, with members often expected to contribute personally, engage in fundraising, and volunteer.
- Advisory Boards: Advisory board members offer specialized advice and support to company or organizational management. They lack governance responsibilities or legal obligations and may receive compensation in various forms, including equity, cash, or other benefits.
- Start-up Boards: Start-up boards guide young companies through growth phases and scaling challenges, providing strategic direction and financial oversight. Members, including founders, investors, and industry experts, might be compensated through equity, cash, or expense reimbursements.
Leveraging Board Service Across Career Stages as a Career Advancement Tool
The essential skills for effective board members are multifaceted, encompassing industry-specific knowledge, digital proficiency, and a strong grasp of Environmental, Social, and Governance (ESG) principles, complemented by crucial soft skills like adaptability and emotional intelligence (BoardClic.com, 2023). Integrating board service into a career development strategy makes sense at any career stage, acting as a powerful career advancement tool. Consider these stage-specific approaches:
Early Career Professionals: At this stage, the focus should be on establishing a strong skill set and diverse experiences. Seeking mentorship and embracing learning opportunities are crucial. Engaging in volunteer board roles, committee work, or junior boards can effectively build credentials and expand professional networks (Khandewal & Eades, n.d.).
Mid-Level Professionals: Professionals in mid-career should emphasize their leadership experiences and specialized skills, such as financial acumen or digital transformation expertise. They should pursue board opportunities that offer strategic influence and professional growth, such as non-profit boards, advisory boards, or boards of smaller private companies, where their specific expertise can be highly valued.
Senior-Level Professionals: For senior executives, board service serves as a platform to amplify industry impact, mentor emerging leaders, and apply extensive experience to guide organizations through complex challenges and opportunities (SpencerStuart.com, 2010). Leveraging their established networks, including executive peers and board members, they can identify opportunities within corporate boards of publicly traded or large private companies, leadership roles in non-profit boards, and founding positions in advisory boards for new ventures.
How Career Practitioners Facilitate Board Service as a Career Advancement Tool
Career practitioners play a pivotal role in guiding clients to recognize and explore how board roles can significantly shape their career trajectory, enhance their skill sets, and provide avenues for professional growth and influence. By offering tailored advice, resources, and ongoing support, practitioners empower clients to secure board roles that align with their career aspirations and to excel in these positions. Key strategies include:
- Career Assessment and Gap Analysis: Employ tools like SWOT analysis to evaluate strengths, weaknesses, opportunities, and threats relevant to pursuing board roles, ensuring a strategic approach to career advancement.
- Market Analysis:
- Identify organizations and industries that resonate with the client’s skills and professional interests.
- Analyze emerging trends in board composition, such as diversity and inclusion initiatives, and growth sectors to target effectively.
- Personal Branding:
- Define the core strengths and accomplishments the client should highlight to differentiate themselves.
- Determine the most pertinent aspects of their professional experience for board applications.
- Strategize the use of professional social media platforms to enhance visibility and networking.
- Tailored Development Plans:
- Recommend practical learning and development opportunities (formal education, workshops, mentoring) to bridge any identified skill gaps.
- Advise on leveraging current roles to develop critical board-relevant skills through special assignments, projects, and committee participation.
- Networking for Success:
- Identify key individuals who can provide support and guidance in the board search process.
- Recommend relevant networking events, professional groups, and associations to expand connections and opportunities.
Resources for Finding Board Opportunities
To effectively leverage networking, career development, and community engagement for board candidacy, aspiring board members can enhance their visibility and appeal to organizations seeking new directors. Resources that offer valuable tools and insights for navigating this process include:
- BoardNetWork: www.boardnetwork.com
- National Association of Corporate Directors (NACD): www.nacdonline.org
- WomenCorporateDirectors (WCD): www.womencorporatedirectors.org
The journey to securing a board position can be demanding yet profoundly rewarding, fostering both personal and professional enrichment. Career practitioners are instrumental in helping clients navigate the complexities of board service, tailoring their approach to align with individual skills and passions, and positioning them as compelling candidates for impactful board roles. By viewing board service as a strategic career advancement tool, professionals can unlock significant opportunities for leadership and influence.
References
Blanc, A. (2016, June 8). Being a board member is a three-step strategy for advancement, not a retirement plan. Forbes.com. https://www.forbes.com/sites/averyblank/2016/06/08/being-a-board-member-is-a-3-step-strategy-for-advancement-not-a-retirement-plan/?sh=7528f5713ded
BoardClic. (2023, Dec. 20). These are the six most desired board skills for 2024. https://boardclic.com/blog/these-are-the-six-most-desired-board-skills-for-2024
Khandewal, A., & Eades, S. (n.d.). 10 things I learned while serving on a young professionals board. BoardAssist. https://boardassist.org/blog/10-things-learned-serving-young-professionals-board/
SpencerStuart. (2010, May). The benefits of board service. https://www.spencerstuart.com/research-and-insight/the-benefits-of-board-service
Laura Johnson, CEO/Creative Director of LLEJ Careers LLC, is a Certified Master in Personal Branding and Digital Strategy who excels in helping executives showcase their unique value. Drawing on her 16 years of experience serving more than 1,000 clients across various industries, she offers personalized, accessible services that shape personal brands and significantly enhance the professional legacies of her top-tier executive clients. Laura partners with her clients to communicate their value in a way that resonates with board search committees and recruiters, enabling them to contribute meaningfully to organizations. She can be reached at [email protected] or https://www.linkedin.com/in/laura-lee-ellen-johnson
