Getting yourself board-ready is a journey where you need to be realistic in your skills, experience and value you bring to a board. You also need to be mindful that it is a very competitive marketplace. There is an over-supply of qualified corporate directors for a limited supply of available corporate board seats.
So, how do you start your journey to get board-ready so you can compete for a corporate board seat? The first step is to ask yourself these 10 questions to determine your readiness for leading and serving on a corporate board.
10 Board-Ready Questions
1. Do you have a minimum of 10 to 15 years of experience in a senior executive role in the public, private, crown or not‐for‐profit sectors?
2. Are you prepared to commit at least 200 to 300 hours per year to a corporate board role?
3. Do you have the support of your own Board of Directors and/or senior executives to serve on a board?
4. Do you have a formal governance certification or designation (C. Dir or ICD.D) from the Directors College or the Institute of Corporate Directors?
5. Have you ever served on a board, not‐for‐profit or for profit?
6. Are you a team player that understands the dynamics of boards is one of the most critical components of good governance?
7. Do you fully understand the role, responsibility and liability of a corporate director?
8. Do you understand the difference between a board of directors role versus a management role?
9. Do you have financial acumen—can you read and understand financial statements?
10. Do you have experience in critical areas in our changing world such as Risk Management, International Markets, M&A, Cyber Security, Digital Media, Big Data, etc.?
If you have determined that you need to begin your journey to get board-ready please consider registering for our Women Get On Board Getting Board-ready workshop series.
The purpose of the Getting Board-ready workshop series is to help women gain insights and learn about the skills they need to prepare for board opportunities. These half-day workshops will be facilitated by corporate directors, governance experts and search experts. They will share their experiences to empower women to become more confident in order to lead and serve on boards.
Getting Board-Ready Workshop Links:
Understanding your role on a Board – http://bit.ly/Workshop1Oct7
How to prepare yourself for Board roles – http://bit.ly/Workshop2Nov4
How to get yourself on a Board – http://bit.ly/Workshop3Dec9
All Three Workshops: http://bit.ly/Workshop1Oct7
Stayed tuned for more Women Get On Board blogs on getting board-ready!