At Women in the Boardroom, we offer expert advice on a lot of the issues and topics surrounding board service; how to get more women serving on corporate boards, branding yourself for board service, why women make great board members, and we also provide valuable techniques, resources, and strategies that women need to obtain for their 1st, 2nd or 3rd board seat. Here, we’re going to revisit the very profound but simple question; Why serve on a corporate board? Serving on a corporate board can be a highly rewarding experience for a variety of reasons. Here are some key motivations:
Intellectual Challenge
Ever heard the saying, “The people around you determine your success?” Having a board seat will expose you to other smart, talented people and challenge you all to work through complex issues that require sharp thinking and deft persuasion. As a director, serving on a corporate board is a great way to gain experience in industries, products, and services that you may not have worked in before or be intimately familiar with.
An Enhanced Resume And Reputation
Being selected to serve on a corporate board is a significant endorsement of your expertise and leadership capabilities. It enhances your professional reputation and positions you as a thought leader in your industry, increasing your influence and visibility. Naturally, All of these skills apply directly back to your day job as well.
A Fulfilling “Second Career”
Some directors serve on boards exclusively, usually after several decades holding management, executive and c-suite level positions. They want to follow a different lifestyle from the day-to-day intensity of an executive job, whether for family, age or other reasons, but still apply their skills in a stimulating way. Although each director might describe the motivation for board service in a different way, nearly all agree that they believe they get more out of every meeting than they give.
It’s Prestigious
Corporate board seats can be scarce, and competition is fierce. But with the right initiative, preparation and guidance, you’ll find yourself being invited to interview. Landing a corporate board seat will signal to your peers that you’re contributing your expertise at the highest level.
Service To Others
As a board director, you’ll be providing guidance and advice to help a company reach its best potential. Good directors get to know the ins and outs of a company, its competitors, guard the interests of stakeholders, and help maximize the company’s performance. Benefiting the company’s employees and stakeholders is a satisfying way to give back! As a board member, you also have the opportunity to mentor and guide senior executives and emerging leaders within the company. This can be a rewarding way to give back and support the development of the next generation of leaders.
Your Time Is Now
Serving on a board will bring you both personal and professional benefits. You’ll discover, from an insider’s perspective, how a company conducts business while sitting at the table with intelligent people from different backgrounds, learning how they approach business, influence decisions, and communicate. And that’s an amazing privilege because having access to this type of knowledge can benefit you by translating well to your career and your current role.
If you’re interested in continuing the conversation, Reach out to me directly!
Sheila Ronning, CEO & Founder, Women in the Boardroom.
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