The Advantages of Sitting on a Board of Directors

Leadership

Oct 11

Are you considering joining a board of directors or evaluating how this placement could be beneficial in your career? Are you wondering if the time you’d have to invest is worthwhile?

Joining a board of directors is a big commitment, but the rewards are well worth the effort. In this article, we’ll take a look at some of the main benefits of sitting on a board and how to take this exciting step forward in your career.

Financial Benefits

The financial benefits are usually the last thing aspiring board members consider when joining a board. By this point in your career, you’ve earned your money through the years of dedication and hard work that are required for you to land a seat on a board of directors. However, it’s worth mentioning this particular benefit as the income you gain from this position to compensate you for your time and expertise can be a nice nest egg for your retirement.

It’s also worth mentioning that your potential for income will be more substantial on a public or private board of directors rather than on a non-profit board. That being said, starting with a non-profit board is a great way to gain experience to advance to a more prestigious position.

Networking Opportunities

Being on a board will give you the opportunity to make more high-value connections and expand your horizons for future positions. You may even have a particular board in mind because of who else is on it.

Networking is also a significant part in landing a board position. Knowing who to talk to and conveying your interest in a board position at various networking events can help you cultivate the connections you need to succeed. Again, you may start in a position that you will use as a stepping stone to advance based on the connections you make through networking.

Accolades and Notoriety

Being on a board of directors looks really good on a resume. Really good. As a result, it will boost your public profile, opening up the opportunity for more accolades and notoriety. You will have the opportunity to attend various conferences and events as a keynote speaker or person of interest. In essence, being on a board of directors is the catalyst for exponential growth in your career.

New Experiences and Knowledge

You’ve likely learned a lot throughout your years in a leadership position that will help you land a position on a board of directors, but have you thought about how that position will help your career? As a board member, you’ll be able to see things from the other side of the equation. You’ll get more experience and have opportunities for increasing your knowledge that will benefit you at work.

To be an effective board member, you have to love continued learning. Consider how your improved knowledge in your industry can create a cycle of improvement.

How to Get There

There are a lot of advantages to being on a board of directors, both for your career and personal life. So how do you get there? Here are some things you should do:

Have an updated resume and bio to present to organizations.
Have proven experience within your industry, particularly in a leadership role.
Have prior board experience, usually through a non-profit board to start.
Complete a board certification program.
Reach out to your networks and convey your interest.
Work with an executive coach with experience in board placement to help you reach your goals.

Getting on a board is a combination of having the right skills, the right experience, and knowing the right people. Working with a coach and board placement organization can help you make the right connections and get a board position that will help you reach your career goals.