This is the fifth part of a series of blogs examining why people come to Hattrick Advisory Services for executive coaching and/or mentoring services. Of course, few come to us for only one thing, but these blogs examine the most common themes that arise in our confidential services. You can read the fourth article in this series here.
A good number of our executive clients are looking to become a board member, both as a way of earning income and giving back to community organisations. Some already are and are looking to do more. What steps do you need to take? What skills and attributes do you have that will be valuable? Where do you need to grow? At HAS, we have coaches who serve on boards, both locally and globally, and who can work with you as you develop your particular niche.
At Hattrick Advisory Services we have considerable experience of working with boards. Our Managing Partner, Graham Wood, currently serves on the boards of Eco Agricultural Partners, NextGen Foundation and CoachActivism as well as the advisory board of DotGlasses. The Coach Activism role in as part of an executive board, meaning the members do the actual work too!
Making the transition from executive to board member can happen at any time in a career. Boards are increasingly looking for younger members as part of their commitment to diversity and better governance. They want people who can make a difference, bring a perspective that may be lacking and give them access to skills and mindsets they may not have. Many of our clients who are in the later stages of their current careers are also often curious about such roles.
At HAS we work with a diverse set of clients looking to make the next step into the boardroom. We encourage those with this ambition to develop the skills and mindsets for these roles, regardless of their backgrounds and skill sets.
We have written elsewhere about the vital role between a CEO and her board, especially the Chair.
There are some excellent resources out there for those who are curious about what a board role entails. A good place to start your exploration is the blog pages of Board Excellence or, for those looking for specifically nonprofit roles Board Source. There are also many recruitment companies that will guide the right candidates towards the right roles, including our friends at Career Connections
Questions our clients often ask include:
- Can you help me prepare for a board role?
Yes! We can work with you so that you are clear about what you want from a board role, what you have to offer and how best to articulate that in the marketplace. We can discuss mindsets, understanding the difference between an executive and a governance role and other pertinent issues.
We encourage our clients to think deeply about what they may bring to a board, what is necessary, and what is helpful. For some moving from a senior executive, making multiple decisions daily and having people defer to them, a shift in mindset is necessary. Yes, there will be fiduciary responsibilities, and matters you are legally responsible for, but often your role will be to listen, learn, nudge and be of service to the CEO and their team. Good board members know where they can add value and when to be quiet; focusing on the strategic and not the detail. The often humorous LinkedIn comments from Steve Allman provide helpful insights into what board members sometimes do that is not helpful!
- What are boards looking for?
So many different things! A start-up may not want the same kind of board as a heavily regulated bank. Good boards will be looking for people to compliment, not mirror, the skills they already have. They may be specifically looking for people with a specialised skill set, finance or IT or legal, for example, or sometimes they want people from a more generalist background. They may be looking for people who have different backgrounds and experience than those who are already serving.
- How much of a time commitment will it be?
You should always ask about this in your interview (yes, even if you are offering your services for free) the process should be competitive. You won’t want to go into a role without being sure that you have enough time to do it well. Most boards will meet 3 or 4 times a year, nowadays often over Zoom with maybe, one in-person meeting a year. There will be numerous sub-committees serving the full board, and they will take time too, as well as emails and other forms of communication as situations develop. And, of course, stuff happens. For example, the CEO may leave suddenly, and the entire board has to pull its weight to deal with the interim and then the recruitment cycle.
- I don’t see many people like me on boards. Is it right for me?
Yes! There was a time when boards seemed to consist entirely of older men. While the process of change has been frustratingly slow, things are changing. Good boards constantly look for people who bring something different to the table. Those who don’t then look elsewhere. You will still, unfortunately, find boards that are very male or consist of people mainly from the same background. But they are becoming more the exception than the rule.
- I’ve only been working for a few years; should I wait?
No! At HAS, we love coaching people earlier in their careers for board roles in the near future. Younger people can bring in skills and mindsets that are different, not better, but different. For example, we are working at the moment with a younger woman who is very familiar with Artificial intelligence both from a hands-on, practical point of view and also from a future of work perspective. Many boards will be enhanced by her knowledge.
- Will I be paid?
For Nonprofits, NGOs, etc., the answer is nearly always no. They will often pay out-of-pocket expenses to attend meetings, etc., but there is no attendance fee. An excellent resource for those looking at nonprofit boards can be found here. And, remember, you can gain valuable experience and do very good work with very small community groups, focused in a village or small town.
Most commercial organisations pay board members something, often an attendance fee. Others may provide an annual stipend to compensate them for the work they do.
- Will I have legal responsibilities?
Mostly, yes. You can be held accountable if things go wrong in the organisation, especially on the financial side. At HAS, we coach clients to understand these risks, what they mean to them, and how they can ensure, through their focus and attention to detail, that the risks are minimised and that they can be proactive in noticing any worrying trends.
So, you may be thinking about adding a board or two to your portfolio, ready to make a move or wondering what this may look like in your unique circumstances. At HAS, we can work with you to achieve what you want, help you with the application and interview process and most importantly, coach you on the mindsets and skills that a board will value from you.
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