You have been asked to a board interview. Congratulations! Now that you have landed the interview what do you need to do to prepare? A board interview is similar to job interview in that you want to put your best foot forward. Where board interviews differ is the preparation from a governance point of view rather than from a management viewpoint.
Top ten tips to help you prepare for a board interview
- Understand conflicts. Ask for their corporate calendar and make sure it doesn’t conflict with your other current boards — also ensure that you have the time to commit to this board. Are there other conflicts that you have to be concerned with like your current employer, financial or related parties?
- Know your value proposition. What value-add you will bring to the board? For more information see my blog on Preparing Your Board Resume.
- Research, research, research. Do your due diligence. Go on SEDAR (www.sedar.com) and read the company’s latest annual report, annual proxy circular, quarterly filings and press releases. Also check out the company’s social media and what is trending online about the company.
- Gain a strategic understanding of the company. What are the opportunities and challenges that the company is facing? Is the company going through transformational changes, or high-growth through acquisitions?
- Prepare, prepare, prepare. Like a job interview, you want to come prepared to your
board interview. Make sure you know what members of the Board you will be meeting with. Know their background, experience and skills. Find out who the independent board members are and what the ratio of executive to non-executive members is.
- Understand the culture of the board. Where do you fit in? Look at the current board composition and their board diversity policy. What would it mean for you if you are being considered to be the “first” woman on the board? Ask questions about your fit. Find out how the board works together. Is it collegial? Does the board evaluate its own performance?
- What board committees exist? What committee(s) would you be considered to join?
- Know your expected contribution. Why did the company identify you as a board director candidate?
- Compensation. Review their board compensation in their annual proxy circular. Is there an expectation to purchase shares? Is the compensation in line with your expectation? How often do they do a board compensation review?
- Practice, Practice, Practice.
If you are interested in learning more about preparing for board interviews and building your board profile, please sign up for Women Get On Board’s How to get yourself on a Board workshop on March 30, 2016: http://bit.ly/March30Workshop .
Refer a new member (or become a Women Get On Board member) before or on International Women’s Day, March 8th, 2016, and be entered into a draw for the chance to win one free ticket to a Women Get On Board workshop of your choice – a $300 value. Email email@example.com to refer someone or join Women Get On Board by March 8th, 2016!